INDIGENOUS investment company Fijian Holdings Limited (FHL) Group has an investment pipeline of close to $200million over the next three years.
Prime Minister Sitiveni Rabuka revealed this while delivering his address at the official opening of the FHL Tower in Suva yesterday.
He said this indicated a strong vote of confidence to the economy and to the country.
He said the FHL Group’s strategic direction in the next three years was anchored on the theme: ‘Growing into new frontiers in pursuit of our purpose’.
“This theme will underscore some bold investments, including the upgrade of the cement mill in Lami, the broadening of product offering by Merchant Finance and some strategic investments by South Seas Cruises in the tourism sector,” Mr Rabuka said.
“Perhaps, the most significant change by FHL is the allocation of $50m to be invested directly with landowners to unlock their resources.
“Through a joint venture model, FHL will contribute cash equity to landowner companies and jointly develop their businesses.”
FHL has launched its first impact investment with the Nawaibuta landowners in Korovou, Tailevu to build a commercial complex in Korovou town.
Mr Rabuka said a few other projects were on the way, including a commercial complex in Tacirua with a landowner group from Kalabu Village, “as FHL continues to find ways to integrate more iTaukei meaningfully in Fiji’s economic sectors”.
“Like any new initiative, this will not be easy and we would encourage your patience and support as FHL explores new frontiers to meeting its purpose.
“As we look ahead, FHL’s focus on impact investment marks a new chapter, where success is defined not only by profit but also by purpose,” Mr Rabuka said.
