THE iTaukei Land Trust Board (TLTB) today (29 August 2016) signed a Memorandum of Understanding (MOU) with the South Pacific Stock Exchange (SPSE or Exchange) in an effort to enhance the level of awareness and participation of land owning units in Fiji’s stock market either through investment or capital-raising.
TLTB Board Member Ro Epeli Mataitini said the agreement would add value to TLTB’s land management services by focusing on investment in the stock market.
“Our officers in the Landowners Affairs Unit (LAU) have been conducting Financial Literacy Training for landowners and through this MOU, TLTB will be well-equipped to create awareness and improve landowners’ understanding on investment opportunities that are available in Fiji’s stock market,” he said.
In signing this MOU, TLTB is confident that landowners in Fiji have the potential to participate actively in Fiji’s stock market through the purchase of shares which will have an impact on the development of the economy as a whole.
SPSE Chairperson, Dr Nur Bano Ali added that this partnership marked an important milestone in SPSE’s investor education agenda and that this MOU was the first of the many associations that the Exchange would like to embark on with other key stakeholders. We also believe that this initiative is well-aligned with the Government’s National Development Plan and Capital Markets Master Plan priorities.
SPSE Chief Executive Officer, Ms. Latileta Qoro said, “We commend the Board and in particular the Executive Management of TLTB for seeing the immediate benefits and the long-term value of this partnership and agreeing to the same without reservation. The MOU priority is to ensure that land owning units become informed investors who are able to confidently make sound investment decisions. We are looking forward to developing and increasing the availability of information and materials in the iTaukei language with TLTB and in particular the LAU.”
The Memorandum would involve the joint formulation and implementation of an annual investment literacy plan of activities and information sharing sessions between SPSE and TLTB personnel.