Minister for Rural and Maritime Development, Sakiasi Ditoka, has underscored the importance of directing remittance funds towards savings and investments.

The backdrop to this emphasis is the revelation from the Reserve Bank of Fiji that inward remittances for the year 2022 reached approximately $1.4 billion, with a projected rise of around $1.2 billion this year.

The minister says that the shift towards digital financial services has been noted in the aftermath of the COVID-19 pandemic.

“Financial services are for everyone, irrespective of race, religion, or distance. At the same time, this allows our diaspora community, which has contributed immensely to the development of our country over many years through inward remittances.”

Minister for Rural and Maritime Development, Sakiasi Ditoka.

Referencing the insights from the 2019 and 2020 Household Income and Expenditure Surveys, Ditoka points out the youthful demographic makeup of Fiji, with over half of the population below 30 years of age.

“And sadly, most of Fiji’s poor are young people. We need to ask ourselves this question of what we can do to change this trend as our young people are the future of Fiji’s tomorrow.”

Ditoka also states that access to formal financial services among Fijians has surged from 64 percent in 2014 to 81 percent in 2022.