VANUA Balavu Holdings Ltd (VBHL) is hoping to raise $650,000 at its Vanua Balavu Day next month.
With 17 villages, who are all shareholders in VBHL, secretary Tomi Finau is confident they will be able to achieve the target.
According to Mr Finau the large villages had been tasked to raise $25,000 each with $20,000 to be invested into the Vanua Balavu Island Trust (VBIT) while the remaining $5000 would go to VBHL. The smaller villages were expected to raise $15,000 each, of which $10,000 would be invested with VBIT and $5000 to VBHL.
“The Vanua Balavu Day festival will bring the people of the island together to raise funds on behalf of their village. These funds will go towards their shares in the two entities — VBHL and VBIT.”
VBHL was established in 2012.
Mr Finau said, the company had grown and this year would see the first payment of dividends.
