Great news for landowners as the iTaukei Land Trust Board (iTLTB) has approved the establishment of a Holding Company and its subsidiary to spearhead TLTB's new commercial activities.
iTLTB says the significant decision was made during its 463rd Board Meeting and the move marks a major milestone as iTLTB embarks on a New Business Direction aimed at empowering iTaukei landowners through commercial ventures.
They say this new development will facilitate iTLTB's shift towards broader commercial activities designed to generate sustainable income and wealth creation and long-term economic opportunities for iTaukei landowners.
They further say the Board is committed to ensuring that these initiatives foster economic empowerment and enhance participation in key sectors, including investment advisory, land development, and property management.
iTLTB says the structure of the new entities was developed in collaboration with Consulting Firm PricewaterhouseCoopers (PwC), who provided expert advice on the best approach for iTLTB's commercial arm.
They say the PwC report includes a detailed analysis of legal, financial, and operational structures to ensure compliance with Fiji’s laws while maximizing benefits for landowners.
It says the report also highlights the flexibility of the structure, which includes provisions for strategic partnerships and potential future expansion into joint ventures and credit finance institutions.
Minister of iTaukei Affairs and Chairman of iTLTB Ifereimi Vasu says the establishment of this Holding Company and its subsidiary represents a critical step forward for iTLTB.
He says it will allow them to diversify their business operations, promote economic empowerment for landowners, and create new opportunities for wealth generation.
Vasu says the Board’s decision aligns with TLTB’s broader strategy of enhancing iTaukei landowners' economic participation.
He adds the commercial arm will operate independently from TLTB’s core land administration activities, ensuring that both governance and business operations are managed effectively to mitigate risks and deliver sustainable growth.
