More than 80 percent of people living in rural Fijian communities are in debt as a recent study has found that borrowing in Fijian communities is pervasive and financial literacy is very low.
That is the revelation from the financial capacity Advisor for UNDP, Jeff Liew at the launch of the Financial Capability, financial Competency and well being in rural Fijian households survey carried out by the UNDP.
Liew said the survey which was carried out in a total of 14 villages in Naitasiri highlighted that in Fijian communities the ability to manage debt was very low, with 50% of the villagers not even understanding the meaning of loans.
Liew said this lack of financial literacy would see people falling victim to "get rich quick" schemes and other fraudulent activities.
Meanwhile, ANZ Chief Executive for Fiji Norman Wilson said that as part of their community program they are undertaking the Rural Banking Initiative which has seen over 70 thousand people take advantage since it started in 2004.
The research which was undertaken in 2007 and was this afternoon released jointly by ANZ and UNDP.
The man who allegedly murdered his wife after a heated argument in Veisari on Saturday has been told by the Suva Magistrates Court to seek legal repre...
1 hour ago
The Fiji National Disaster Risk Management Office (NDRMO) will be conducting inspections and testing of the Flood Early Warning System (FEWS) in ...
3 minutes ago
A New Zealand man has been charged with trying to import AUD$10 million worth of heroin into Sydney in floral-patterned bags.
In a joint statement ...
58 minutes ago
The Fiji National Provident Fund (FNPF) has recorded its strongest financial performance in history, generating more than $1 billion in investment ...
1 hour ago
A massive fire at a Goa nightclub in India killed 25 people, with police saying the blaze spread quickly because the club was built with wooden ...
1 hour ago
Energy Fiji Limited says that while power has been restored to most areas affected by recent severe weather, some customers remain without ...
2 hours ago
The Fiji Airways Men’s National 7s side are working on their fitness as they prepare for the start of the 2025/2026 World 7s Series this ...
4 hours ago
There is a constant struggle that we seem to have in Fiji with upholding and respecting the rule of law, and in my view, I think it starts at the ...
3 days ago
Tribunal proceedings for suspended Corrections Commissioner Dr Nakarawa are underway, focusing on allegations of misbehaviour during his tenure as ...
3 days ago
