Fijian Holdings Limited, in collaboration with the Ministry of iTaukei Affairs, has completed a feasibility study for establishing a dedicated investment bank targeting resource owners and MSMEs in Fiji.
The study, supported by the Great Council of Chiefs, the Itaukei Resource Owners Forum and the Government, recommends transforming Merchant Finance Limited to cater to this segment’s unique needs.
Minister for Itaukei Affairs Ifereimi Vasu expressed satisfaction with the study’s outcomes, highlighting the government’s commitment to lowering barriers to resource owners’ access to financial services.
“When I assumed office, my primary concern addressed to FHL was about devising ways to lower the barriers for resource owners to access financial services. I am delighted to announce that the feasibility study supports the viability of such an initiative and outlines the strategic steps to implement it effectively,” Vasu said.
During the handover of the report, Jaoji Koroi, Group Chief Executive Officer of FHL, highlighted the significance of the Solesolevaki Framework in enabling this important study.
“FHL is committed to supporting the government’s efforts in boosting the economic potential of our resource owners and enhancing the growth of MSMEs through accessible financial services. This initiative is linked directly to the purpose for the establishment of FHL, which is to accelerate iTaukei’s participation in business.”
Key recommendations will be presented to the Cabinet for further action, including establishing credit-enhancement schemes and training facilities.
The study, conducted by Invexa Business Solutions Ltd, was partly funded by the government through the Ministry of iTaukei Affairs.
