FijiFirst in 700k Debt

FijiFirst party’s net liability currently nests at $701,180 and around $855,938 for working capital deficiency, according to the party’s audited financial accounts as of December 31, 2023.

The report which can be accessed via the Fijian Elections Office website details the party’s derails of expenses that the party is facing.

According to the audited report, compared to $380,057 in 2023, their operational expenditures as of December 31, 2022, were $4.222 million.

By the end of 2023, the party’s net deficit had dropped to $701,680 from $1.02 million in 2022.

As per FijiFirst’s financial situation, at the end of the last year, the trade and other payables current liabilities were valued at $907,664, while the total liabilities amounted to $910,422.

By the end of 2023, the party funds deficit totalled $701,680.

For the year that concluded on December 31, 2023, there was a net surplus of $323,864 as opposed to a net loss of $1.656 million in 2022.

As of December 31, 2023, the bank balance and cash on hand were $22,583, while the net liabilities were $701,180, down from the net assets of $1.025 million in 2022.

Party leader and founding member Voreqe Bainimarama and founding member Aiyaz Sayed-Khaiyum both resigned last Friday.

The bombshell resignations also noted the party’s executive committee resignation.

Also adding weight to this is a notice issued by Supervisor of Elections Ana Mataiciwa on May 30, giving the party until 4 pm on June 24 to amend the constitution regarding dealing with internal disputes.

But with the exit of two eminent politicians, the question is, will the party pay this up or choose to be deregistered.

Feedback: jone.salusalu@fijisun.com.fj