Fijians proving they can and do Save: Kaumaitotoya

Fijians are saving and investing for their future, dispelling the long-held belief that locals do not save money,

Unit Trust of Fiji (UTOF) chairperson Lavinia Kaumaitotoya said financial literacy programs have created a new generation of Fijians who understand the importance of financial security.

"All the time, we hear negativity that Fijians don't save, but I dispel that," Ms Kaumaitotoya during the announcement of the 2025 Final Dividend Declaration and Distribution on Thursday.

"Today, Fijians are saving. People in our villages, regular moms and dads, they are saving."

She credited UTOF's Noqu Vanua financial literacy outreach program for the cultural shift in savings behavior across the country.

Of the 4,000 new account holders recorded in the past year, 80-90% are ordinary families and children, according to chief executive Vilash Chand.

"There is a lot of financial discipline now amongst our Fijians," Mr Chand said.

"They have the capacity and capability to save, and they've been coming to us for that."

The Employee Investment Scheme (EIS) allows workers to automatically deduct small amounts from their fortnightly pay.

"Even if it's $10 or $20 a fortnight, it's working," Ms Kaumaitotoya said.

"You start small, because from small things, greater things come."

She said grandparents are also investing in their grandchildren's future, creating intergenerational wealth.

The growing savings culture comes as UTOF's portfolio reached $600 million in funds under management, with 108,000 active account holders.

Ms Kaumaitotoya said the trend proves Fijians are taking control of their financial futures when given accessible options.

Feedback: kaneta.naimatau@fijisun.com.fj