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Landowning Unit Invests Its Funds for Earthwork Projects

“This will provide employment opportunities for our people, use part of profit to support our socio-economic development plan and as well diversify to other forms of business with high demand in the market.”
23 Sep 2022 17:15
Landowning Unit Invests Its Funds for Earthwork Projects
The landowning unit in the village of Nabawaqa, in of the interior Nadroga/Navosa, celebrated last week. Photo: Laisenia Tui

A landowning unit of Nabawaqa Village in Nadroga Navosa has invested its iTaukei Land Trust Board (TLTB) funds to assist in earthwork projects.

Members of Mataqali Nakoro/ Nase of the Yavusa Tokadrau, through their business arm, Nakoro/Nase Investment Cooperative Limited, were glad to see their lease money put in the right investment.

Spokesperson Laisenia Tui said this was the first investment project for their mataqali from the funds kept and invested by TLTB since 1982 after the opening of Monasavu Dam.

 

“We are one of the Monasavu LOU that gave land for the construction of Monasavu Dam and our forefathers decided to invest some funds for our future generation to benefit from,” he said.

Mr Tui added that TLTB kept and invested those funds into Fijian Holdings and Unit Trust of Fiji and reached a stage where it had allowed the LOU to withdraw those funds and start their own investment businesses.

“We approached Higgins Company for road work contract, with green- light granted, we know we are investing right to a business that Government provided budget for every year,” he said.

 

“This will provide employment opportunities for our people, use part of profit to support our socio-economic development plan and as well diversify to other forms of business with high demand in the market.”

Mr Tui thanked the Prime Minister, Voreqe Bainimarama, who is the chairman of the TLTB board, for all the good efforts put in place by the Government of the day.

“For successfully investing our funds and giving our savings back to us to start our mataqali business to benefit our people. Also, our thanks to TLTB CEO and his management team, for their support in our achievements,” said Mr Tui, who is also the Namosi Provincial Administrator (PA).

Mr Tui said they also plan to buy other machines such as a digger, tractor, dump truck, water truck and roller. They invested $231,000 in a grader.

“So that we can excel well and meet the work standard demanded by Higgins,” he said.

 

He shared their LOU objective:

  • Establish a company owned by all mataqali members
  • Establish our co-operative and get all mataqali members as shareholders
  • Create employment opportunities for our people
  • Support government in get- ting our rural roads in good condition all times
  • Company to support the implementation of our development plan
  • There is impact in the improvement of our people socio-economic living standard
  • Support our national ecnomic growth and
  • Build peace, stability, love and unity within the mataqali

 

Story By: Waisea Nasokia

Feedback: waisean@fijisun.com.fj



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