The chief executive officer of the iTaukei Land Trust Board (TLTB), Solomoni Nata, has urged landowners to adopt a new mindset, abandon the dependency mentality, and strive to lift themselves out of poverty.
Yesterday, TLTB distributed its first set of 10 loan offers from its iTaukei Development Fund Facility (TDF), a new initiative aimed at enhancing service provision for landowners whose land is held in trust under the iTaukei Land Trust Act of 1940.
“The current status of iTaukei wellbeing is dire. We are seen as poor in our own country—75 percent of our people live in poverty, and we iTaukei are the poorest among them,” Nata told the newspaper.
“This type of assistance is designed to help them build their own businesses, utilize their land or other resources to start new enterprises,” Nata said.
The TLTB serves a total of 7,747 landowning units, including yavusa, mataqali, and tokatoka, and administers 53,446 leases on these lands, generating approximately $53.5 million in lease rentals annually.
Every year, TLTB distributes between $100 million to $120 million in lease money to these landowning units. However, according to Nata, this money is often spent without lifting the iTaukei out of poverty.
This has prompted changes at TLTB. “We need to reverse the situation. We can’t just remain inactive, so we are sourcing funds to assist them. Today, we witnessed the first round of assistance to the mataqali and individuals, with no deposit required but based on a solid business plan,” Nata said.
“I’m telling the landowners that the current path we are on must change. They need to adjust their attitudes towards investment and embrace the business culture—wake up early, save money, and avoid unnecessary spending on traditional matters,” he added.
“This is a collaborative approach to business. We review the business proposals, provide some initial assistance, and then follow up. If needed, we can inject further aid because this is the landowners’ money, and we don’t want it wasted.”
The TDF, allocated $5 million by TLTB, will offer eligible landowners low-interest business loans to start or expand enterprises.