Apenisa Waqairadovu 
[Photo Credit: Freepik]
The South Pacific Stock Exchange is intensifying its efforts to promote financial literacy.
Speaking at the opening of the “Ring the Bell for Financial Literacy” ceremony this morning, SPX Chief Executive Sheraj Obeyesekere revealed that only ten percent of Fiji’s stock market is owned by individual members of the public, while institutional investors hold the remaining ninety percent.
Obeyesekere emphasised that every individual has the right to make informed decisions about how they manage and invest their money.
He says that so far this year, the SPX has carried out close to 100 engagements across the country, educating Fijians that investing in shares is not just for the wealthy.
“What encourages us to keep doing this is the fact that whenever we visited communities, especially from people in the outer islands and rural setting, and they told us that had they known the importance of financial literacy they would have been in a better place now.”
The Chief Executive added that promoting financial literacy is about empowering communities with the knowledge to improve their financial wellbeing.
He has also called on financial institutions to collaborate and take a unified approach to expanding financial literacy efforts, saying such cooperation is vital to shaping Fiji’s future and empowering its people.
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