TLTB set to establish Wealth Fund

January 23, 2024 12:07 pm

TLTB Acting Chief Executive, Solomoni Nata

The iTaukei Land Trust Board is set to establish the iTaukei Wealth Fund, a significant initiative aimed at empowering landowners to become property and business owners.

TLTB Acting Chief Executive, Solomoni Nata, during an interview with the Radio Fiji One announced that the board plans to allocate 10 percent of its annual earnings to the fund, totaling a potential $10 million annually.

Nata says the primary objective of the Wealth Fund is to assist landowners in paying compensation to business operators who have utilized their land until the expiration of leases.

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“This allocation would significantly contribute to elevating the living standards of landowners, going beyond the ordinary. The fund’s focus extends beyond compensations, aiming to facilitate landowners’ entry into various sectors such as property ownership and business ventures.”

Discussions surrounding the Wealth Fund have been progressing positively, and it is expected to be operational from May onwards.

This initiative reflects a commitment to economic empowerment and sustainable development for landowners associated with TLTB.