Interest expressed by Fijians in investing in the stock market or share market as it is also often referred to, is consistently growing.
Fiji has only one stock exchange – the South Pacific Stock Exchange (SPX) – where companies can list their shares and the public can buy and sell these shares.
In its latest Stock Market Trading Report (for October 2025), SPX reported 29 new investor entrants during the month, “aggregating to 396 first-time investors entering the Fijian Stock Market for the year.”
Many more are curious about how it works and how to buy and own shares.
As the experts will tell you as they have told us, investing in the stock market should not be seen or done in isolation but as a part of your diversification strategy as you make the decision not to put all your proverbial eggs in one basket when you save.
The Fiji Times takes an inside look at what exacly our very own stock market is in an exclusive interview with chief executive officer of the South Pacific Stock Exchange (SPX) Sheraj Obeyesekere.
FT: There’s growing interest in the stock market and the stock exchange. We’ve had readers asking how it works.
Mr Obeyesekere: What the stock exchange does is it helps investors, members of the public connect with companies that have issued shares that are looking for investment, and right now we have 20 companies, well known Fijian businesses that have listed their shares publicly for trading where members of the public can buy those shares and become shareholders of those companies. For example FMF who have listed three companies, RB Patel Group, Fijian Holdings Ltd, Pleass Global, Port Denarau, Kontiki Finance, Sun Insurance, Fiji Care Insurance, just to name a few. So it’s a list of 20 well known companies that have issued shares. So the concept is as a member of the public, you can connect with the South Pacific Stock Exchange and through one of the three broker firms, purchase shares in these companies, which have a value, which have a share price. And as those companies perform over time, the share price increases. And once the share price increases, members of the public that bought those shares then have the opportunity to sell at higher price through the stock exchange and earn a profit.
That’s one aspect of how you benefit from a stock market investment.
Another aspect is if you are a shareholder, over time as companies perform and as they are profitable, they distribute a part of their profits to shareholders proportionate to the number of shares they hold (dividend), so that is also another form of income that you can generate when you own shares in the Fijian stock market or in the companies that you own shares in.
For example, Company A has had a good year and has declared dividends. You will be receiving some funds to your bank account as part of those profits.
So those are the two main ways that you can benefit. Being a shareholder, as I said, means you own a share of the company so you own a part of the company. That means you will be invited to their annual general meetings, you will have voting rights, you will be receiving their annual reports. So it’s a very formal, well-regulated market, regulated by the Reserve Bank of Fiji, and a very transparent market.
Our website, spx.com.fj, has a list of share prices of all the 20 companies that I spoke about as well as all the financials of these companies and any key announcements of these companies are listed on the SPX website. So, all information relating to these companies that investors need in order to make investment decisions are also mentioned.
Finally, this concept of stock market investing or share market investing or buying shares in companies that are listed is very common around the world. Even the most famous companies – like Facebook, Google, Amazon, even some sports clubs like Manchester United are all listed on their respective stock exchanges, they have issued shares to the public and members of the public have bought shares. And the same concept applies around the world as well, so it’s considered as a good investment mechanism to diversify your savings. So along with having funds in bank accounts or having funds in FNPF or unit trusts, share market investment is also another avenue or another tool through which you can diversify your savings and make your returns grow.
FT: When you look at the range of instruments you can use to diversify your savings – such as a bank account, a unit trust, etc – investing in a stock market is usually said to be a more risky undertaking and is not for people who have not learnt how to save something first.
Mr Obeyesekere: Well, any form of investment has a certain risk. Stock market investment is something we call high-risk, high-return, or high risk/high reward asset class.
So, there is a certain amount of risks involved. Share prices go up and also come down. Like making profit, where you buy shares for a certain price and sell it at a higher price, you can similarly also make a loss if you decide to sell at a price lower than you bought the shares.
The important part is that risks can be managed, and that is why we have stockbroker firms who are advisors to members of the public on how to carry out stock market investments.
Good thing is in Fiji, we have seen 20 companies performing well, 19 out of 20 companies have been profitable, 18 out of 20 companies actually did pay dividends this year. In Fiji we see strong corporate performance and a strong set of 20 companies that you can invest in, which somewhat manages the risks.
Those 20 companies are all well-reputed and well-functioning, well-known companies.
But there are always risks involved and we would never advice anyone to invest all their savings or all the money that they have in the stock market.
The stock market is a tool that you should use for diversification. If you have a pool of money or a pool of savings, what we always advise is it’s always good to have some money in a normal bank account to access when you need it during emergencies. You can also look at other avenues, like unit trusts, which would take your funds and invest in other tools, FNPF (Fiji National Provident Fund) is a very good mechanism for saving and you can also use other tools like the stock market to diversify, then your risk would spread and the chances of you losing all your money are little to nothing.
It’s all about the concept of not putting all your eggs in one basket.
FT: For those who do decide to invest in companies that are listed on the stock market, I understand this is something that must be done through the stockbrokers. One cannot just come to a stock exchange to buy shares. Please explain this requirement.
Mr Obeyesekere: To invest in the stock market, it has to happen through a stockbroker. The stockbroker is your representation in the market.
So, not everyone can be a stockbroker firm. To be a stockbroker firm, you have to be licensed by the Reserve Bank of Fiji and also approved by the South Pacific Stock Exchange.
In Fiji we have three stockbroker firms: Kontiki Stockbroking, Fiji Stock Brokers Ltd and FHL Stockbrokers Ltd. So investment in the sharemarket has to be made through these institutions who have employed stockbroker representatives who are experts at carrying out trades in the stock market. That’s their daily job. That’s their bread and butter.
Their job is to watch the share prices of these 20 companies, read the financials of these companies, interact with investors and provide them active advice on how to invest and on what to invest in. So that investment advisory aspect is very important. The only people that can act as your gateway to the share market in Fiji are those three firms. There’s no one else that can help you invest in the stock market.
So that is an important consideration. Don’t just listen to anyone who may say ‘mpaisa me $200 and I will give you shares in Fijian Holdings’. It does not work that way. Shares can only be bought through these three brokers. And we do that for a reason. We do that because this is what we call a regulated market. So we can control things like unwanted scams and we can control the transparency. More importantly, we know that most people from the public who come to the stock market will be first time investors so it will be a new thing for them. So we need handholding, advice, nurturing, to go through when they initially start investing in the market. That’s why we encourage anyone to please come through a stockbroker firm. Over a period of time, as you invest, as you profit, as you research about these companies, you will become a seasoned investor. But the stock market is a market for both seasoned investors and newcomers. That’s why we always encourage newcomers to go through the brokers. The role of the brokers is advice members of the public and their clients. Once you come and meet the brokers, you become their client and it’s similar to getting service from any other organisation that has clients. They will advise you on anything related to the stock market.
When selecting what to invest, tell your broker your investment objectives. For example you have $1000 and you want to make it $3000 in one year, then they will accordingly advise you on what type of companies will allow you to do that.
The other alternative is you would like to save $1000 every year for 15 years for your child, so in that sense, they would probably advise on different companies that probably pay more dividends.
So the objectives depends and stockbrokers will provide that expertise and advice.
