FIJIAN TEACHERS $22 MILLION ASSET BASE HAILED A SUCCESS

Government has applauded the constant growth of the Fijian Teachers Association’s Cooperative Thrift’s asset based investments from $900,00 at its inception in 1997 to $22 million in 2023.

Opening the FTACT’s annual general meeting, Deputy Prime Minister Manoa Kamikamica said the Association has led by example and continues to give other Itaukei initiatives a boost.

“You are the example of how an i-taukei based business can be run. I urge you to be ambassadors of entrepreneurship and the co-operative movement. The learnings fromyour co-operative here today can be replicated in the communities you teach or in yourvillages. This ultimately will create more economic activity, more income opportunitiesand better welfare of our people,” Kamikamica said.

He urged the association to support other Itaukei businesses that looked to make successful profits.

“Given your success, and as part of your CSR, the FTA Co-operative could considerhelping other i-taukei businesses or MSMEs by backing them or financially supportingthem. As you know, access to capital is a constant challenge, particularly for MSMEs.”

Kamikamica said Government was also looking at introducing other ventures to help the people of Fiji.

“As part of addressing this issue, the Government will soon be introducing alternativesources of financing through Crowdfunding and Small Offers platforms, through astandalone legislation. This will be regulated through the Reserve Bank of Fiji. We willdefinitely welcome you to not only be part of the consultations in the enactment of thislaw but to use the platform to support i-taukei businesses once it is operationalised.”

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