FNPF to cease COVID-19 Micro Business Assistance next Friday

FNPF to cease COVID-19 Micro Business Assistance next Friday

By Rashika Kumar
Tuesday 02/05/2023
[Photo: File]

The Fiji National Provident Fund will cease its COVID-19 Micro Business Assistance next Friday after assisting 168 members withdraw a total of $905,231.62 since October, 2021.

FNPF says the Assistance was a relief product introduced during the COVID-19 pandemic period, targeting members aged 50-54 years with their plans for income generating activities.

CEO Viliame Vodonaivalu says although the product had a low take-up rate, it had served its purpose amid unprecedented times.

Vodonaivalu says they had received 331 applications in total, out of which 168 members qualified for the assistance.

He says the FNPF Board has approved the closure of the product as it was intended to be a temporary relief assistance during the COVID-19 pandemic.

The CEO says they are also aware of similar products offered by other financial institutions, targeting the same group that members can explore and they know that many would have now been re-employed or found new employment.

Vodonaivalu adds he is also congratulating their members who have opted to venture into micro business because they have taken it upon themselves to contribute to the economy as SMEs are an integral part of the Fijian economy.

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