Vanua Finance to assist i-Taukei landowners

May 25, 2024 7:51 am

The Resource Owners and MSME Investment Bank is now being implemented by Fijian Holdings Limited through Merchant Finance.

Minister for i-Taukei Affairs, Ifereimi Vasu says this initiative aims to significantly increase the wealth and participation of i-Taukei and Resource Owners in economic activities.

Vasu says the conclusion of the feasibility studies is that there is a strong case for the Resource Owners and the MSME Investment Bank.

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“Merchant Finance Limited is the right vehicle to set up a new Resource Owners and MSME dedicated divisions to achieve the objectives of significantly increasing the wealth and participation of i-Taukei and Resource Owners in economic activities.”

Vasu says Merchant Finance has begun the implementation process, starting with the establishment of the dedicated Resource Owners division, known as Vanua Finance.

“The primary goal of Vanua Finance is to make finance more accessible to i-Taukei and Resource Owner businesses. Additionally, Merchant Finance has created a new gender-based financing team called Marama Finance, focused on making financing more accessible to women-owned businesses.”

The Vanua Finance team will be fully operational in June 2024 and will initially utilize existing Merchant Finance products to serve Resource Owners.

New products tailored specifically for Resource Owners will be rolled out to the market over the next three to six months.