Annual Report Summary – 2019: A Year of Growth and Progress for the Fund
The 2019 year was marked by significant milestones for the Fund, reflecting its commitment to advancing the iTaukei and Rotuman communities. Despite challenges, including the discontinuation of a hotel project and the devastating fire that destroyed the Valenibose property, the Fund achieved positive results in various areas:
- Strategic Growth: The Fund launched its 2019-2023 Strategic Development Plan, prioritizing financial sustainability, language and cultural preservation, leadership, and human capital development.
- Financial Success: The Fund reported a gross revenue of $8.1 million and net profits of $1.4 million, driven by successful investments, including shares in RB Patel and Fijian Holdings Limited (FHL).
- Community and Educational Impact: The Fund renewed key partnerships, including with the University of the South Pacific, and supported educational initiatives, including the graduation of traditional leaders in leadership and governance.
- Cultural Preservation: With a continued focus on iTaukei language and heritage, the Fund distributed nearly 7,000 bilingual books to schools.
- Leadership Changes: The Fund appointed Mr. Aisake Taito as the permanent CEO and welcomed Mr. Meleti Bainimarama to the Board as the new Permanent Secretary for iTaukei Affairs.
Looking ahead, the Fund remains committed to its mission of supporting iTaukei and Rotuman communities, with exciting new projects and investments lined up for the future.