South Pacific Stock Exchange Signs MOU To Attract Landowners To Invest In Fiji’s Stock Market

Agreement indriectly supports Government’s plans for financial literacy and financial inclusion

By Sonal Shivangani

SUVA, Fiji (Fijilive, August 29, 2016) – The iTaukei Land Trust Board (TLTB) and South Pacific Stock Exchange (SPSE) today signed a three-year Memorandum of Understanding to attract landowners to participate and invest in Fiji’s stock market.

Speaking at the signing, TLTB Board member Ro Epeli Mataitini said the TLTB is confident landowners would participate actively in the stock market through the purchase of shares which will have an impact on the development of the economy as a whole.

He added that it would help the TLTB officers to also educate land owning units about the benefits of investment.

“Our officers in the Landowners Affairs Unit (LAU) have been conducting Financial Literacy Training for the landowners and through this MOU, TLTB will be well equipped to create awareness and improve landowner’s understanding on investment opportunities that are available in Fiji’s Stock market,” he said.

SPSE Chief Executive Latileta Qoro commended TLTB for seeing the immediate and long-term benefits of the MOU and agreeing to it without any reservations.

“The MOU priority is to ensure that land owning units become informed investors who are able to confidently make sound investment decisions,” she said.

Qoro added before the signing of the MOU they had various discussions on what the focus of the agreement needed to be. “We focused on some investor education sessions, how we can partner on that.

We also focused on some media articles and partnership with respect to talk back shows and partnering to see how we can increase the awareness using those mediums.”

She said the MOU was beneficial at the national level as it was cutting right across the Government’s plans for financial literacy and financial inclusion.

“At the financial system level we have the capital markets master plan that has a vision of over a 100,000 investors by the year 2025 and if we are focused on building this partnership a small exchange with a big network like TLTB, we could help address that vision and start to see more participation from the land owning units and consequently will contribute effectively the 100,000 investors,” she explained.

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