BSP Life launches $7 million Voivoi Development Project that will employ about 150 Fijians

BSP Life launches $7 million Voivoi Development Project that will employ about 150 Fijians

By Rashika Kumar
Friday 30/10/2020
RBF Governor breaks ground at the BSP Life's Voivoi Development - [Photo: BSP]

BSP Life has launched its $7 million Voivoi Development Project with a groundbreaking ceremony in Nadi that will see about 150 Fijians employed over the project duration.

BSP Life Managing Director, Michael Nacola says given the significant impact COVID-19 has had on tourism, this investment could help boost economic activity for the Nadi region.

He says the project adds to their already strong and diversified $787 million investment portfolio.

DSC-4820[BSP Life Managing Director, Mr. Michael Nacola and RBF Governor, Mr. Ariff Ali at the BSP Life Voivoi Development ground breaking ceremony in Nadi.]

Nacola has highlighted that new projects mean new jobs, incomes generated, increased spending, and positive flow-on effects that can accelerate the country’s economic recovery and adds this is a great time to invest given the ready supply of labour and reduced cost of materials.

He says BSP Life has great confidence in the country’s ability to recover from setbacks and the country is resilient and the people are resilient and as leaders in the private sector they must do what they can to drive activity that supports recovery.

Nacola hopes the development will encourage local and foreign investors to move planned projects from shovel ready status to shovel moving status and has also made a call to decision makers to support local investment.

The development will have a mix of warehouses and office spaces and local suppliers have been engaged in the development.

DSC-4836[BSP Life Managing Director, Mr. Michael Nacola and RBF Governor, Mr. Ariff Ali at the BSP Life Voivoi Development ground breaking ceremony in Nadi. ]

Meanwhile, Nacola has also highlighted that BSP Life’s investment portfolio has increased by $22 million in the last 10 months.

While COVID-19 has had some impact, the portfolio’s well diversified nature, built over many years with prudent management, has provided resilience to withstand economic shocks.

He adds that as individuals, it is difficult to make large investments of this nature but together, through pooling of funds via life insurance policies, they can do so and make a difference.

Nacola is urging more Fijians to take up life insurance to protect their loved ones from unplanned events like COVID-19 and have another source of savings to supplement their Fiji National Provident Fund.

DSC-4854[BSP Life Executives and Board of Directors with RBF Governor]

FEATURE NEWS
People’s Alliance had proposed for PM’s pay to be maintained at $328,750
The People’s Alliance Party had proposed to the Parliamentary Emoluments Committee for the Prime Minister’s salary to be maintained at $328,750 an...
13 hours ago
LATEST NEWS
Mavericks clinch 108-105 win over Timberwolves in Game 1 of Western Conference Finals
Luka Doncic led a strong finish for the Dallas Mavericks, swishing crucial shots down the stretch, drawing a couple of fouls and even playing strong ...
8 hours ago

FijiFirst submitted proposal similar to the committee recommendation for salary increases
The only opposition party in parliament, the FijiFirst, had proposed an increase in salary of the Leader of Opposition from $120,000 to $200,000, ...
12 hours ago

Crime increases by 73% in April, 14 police officers charged for various offences – Acting COMPOL
There has been a 73 percent increase in overall crime in April this year while serious crimes increased by 65 percent when compared to the same ...
14 hours ago

Nurses buying syringes and needles for patients at public hospital
Serious concerns continue to be raised by Fiji Nursing Association President, Doctor Adi Alisi Vudiniabola on nurses having to buy needles and ...
14 hours ago

Not the right time to increase MPs pay when many Fijians are struggling – Dialogue Fiji
Dialogue Fiji has today expressed its concern and disappointment over the recommendations made by the Parliamentary Special Committee on Emoluments, ...
14 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
yb
IN DEPTH
Ministry of Home Affairs Talanoa Session on Illicit Drugs and Substance Use Disorders in Fiji
The pervasive threat of illicit drugs has emerged as a pressing concern, rapidly infiltrating and destabilizing our society therefore the Republic of ...
7 days ago

Bainimarama and Qiliho hearing in dismissal of 2 police officers case
Acting Director of Public Prosecutions John Rabuku says he wants the hearing of former Prime Minister Voreqe Bainimarama and suspended Police ...
7 days ago

Sayed-Khaiyum case on alleged payment of Saneem's taxes without proper approval
It is alleged that between the 30th of June, 2022 and the 12th of July, 2022 in Suva, whilst being employed in the civil service as the Acting Prime ...
7 days ago

TOP