$782.4m mobile money transfers

$1.2m profit for company

Bottlers of VaiWai and AquaSafe Natural Artesian water – Pleass Global Ltd (PBP) – recorded a net profit of $1.2 million in 2022. Company chairman Warwick Pleass said this was a growth of 11 per cent compared with the previous financial year. In its 2022 audited financial statements, the company recorded a 92 per cent...

$7.6b commercial banks’ loans and advances

Commercial banks’ loans and advances in 2022 was $7.6 billion, states the Reserve Bank of Fiji’s 2022 annual report that was tabled in Parliament on Monday. The RBF said the commercial banking industry was able to withstand the impact of the COVID-19 pandemic, having maintained satisfactory levels of capital, earnings, liquidity, and marginal asset quality...

$36.8m bonus

BSP Life yesterday announced a bonus payout of $36.8 million for the 2022 financial year which will benefit about 40,000 policyholders. Managing director Michael Nacola said last year they recorded the highest growth in their investment portfolio. According to Mr Nacola, last year BSP Life received around $89m in investment income, achieved a higher degree...

Trade facilitation top on Fiji’s development agenda

Trade facilitation is a top priority in Fiji’s development agenda, says Deputy Prime Minister Manoa Kamikamica. While opening the Supporting Trade Facilitation, Digitalization and Digital Transformation in the Blue Pacific workshop in Nadi yesterday, he said Government wanted to ensure Fiji remained an attractive place for investment and business. “We recognise that, by streamlining our...

BSP Life announces bonus allocation

BSP Life announced a total bonus allocation of $36.8 million, which according to its managing director Michael Nacola, is the highest in its 145-year history. At a press conference yesterday, Mr Nacola said the bonuses were distributed to their life insurance customers with investment-linked policies. He said over the past 10 years, BSP Life had...

$150k investment creates 20 new jobs

An investment of $150,000 in Labasa Town which has been completed will provide employment opportunities for about 20 people. Although opposed and challenged by other existing business houses which resulted in a tense public hearing between supporters and those who objected, the investor Amelia Simmons yesterday confirmed receiving her approved plan from the Ministry of...

Sigatoka-based company records $795k profit

Sigatoka-based Pacific Green has reported a profit of $795,691 for the 2022 financial year compared with a profit of $381,766 from the same period last year. The company recorded total revenue of $4.8 million in 2022. “These strong results were due to reduced operating costs through more efficient production processes and better inventory management, timely...

Single mother builds her way to greatness

Women do many things and handle many situations better than their male counterparts. When faced with a crisis, most women find a way to keep their families intact and their priority would be to ensure their children’s needs are met. Take the case of Elisabeta Torava Waqa. She has worn many hats and been called...

‘Workplace did not cause death’

The Employment Relations Court in Lautoka has disagreed with a doctor who testified that employees who walked in and out of freezers at their workplaces were susceptible to “stress”. Resident Magistrate Indula Ratnayake said this in a recent ruling that found Radisson Blue Resort was not liable for the death of one of its workers...

$951.6m in personal remittances – RBF

Personal remittances into the country amounted to $951.6 million, states the Reserve Bank of Fiji August 2021-July 2022 annual report that was tabled in Parliament yesterday. The RBF said this continued to increase with a significant rise in funds received via the mobile money platform. “Inward remittances (including international mobile money transfers) rose by 15.9...

Solar power for water

Solar Fiji has been growing steadily as a result of the reliability of its products for off-grid areas in the country. Company director Joe Baravi said they had recorded an increase in the demand for solar power. “Yes, there has been an increasing demand of solar power for off-grid and grid-tied commercial and residential clients....

Locals learn from celebrity chef

Local chefs at the Sheraton Fiji Golf and Beach Resort and the Fiji Marriot Resort Momi Bay got a chance to learn from Australian celebrity chef Matt Moran who, over two days, showcased his wide-ranging talents in fine dining. The restaurateur was a guest at the two Sheraton Resorts property where local and international guests...

PRB success stories – Board built estates to support small town growths – The Draiba Estate

Located approximately 1.5km from Levuka Town and neighbour to Draiba Village is the 24 flat-Draiba Public Rental Board Estate. With a total population of approximately 120, the estate is daily managed by Keasi Kalou, the estate caretaker. The Public Rental Board Housing Estate community officer Sitiveni Tabua said the caretaker was daily assisted by the...

‘Best in Class’ award for local company

A local ICT solutions provider – VirtualFlex Solutions Ltd – was awarded the 2022 Best-in-Class – Pacific Region award by Vertiv. A statement from the company said Vertiv was a global provider of critical digital infrastructure and continuity solutions. While presenting the award to the company in Suva, Vertiv representative and head of sales NZ,...

Outcome to serve as voice of women entrepreneurs

The outcomes of the 2nd WIN (Women Invigorating the Nation) convention will serve as the voice of women entrepreneurs at the national policy level at the upcoming national economic summit. The convention kicked of with glamour and ambition with an admirable level of environmental consciousness and about twice the number of participants than the inaugural...

AML framework – FIU addresses gaps in compliance

Fiji has strong anti-money laundering laws and regulations, in particular the Financial Transactions Reporting Act and the FTR Regulations. Fiji FIU director Razim Buksh said the International Monetary Fund (IMF) team met him and his senior staff during their visit to Fiji with discussions centred around Fiji’s anti-money laundering (AML) framework. “Fiji was assessed on...

IMF recommends extensive reform of Fiji’s tax strategy

The International Monetary Fund (IMF) has recommended an extensive reform of Fiji’s tax strategy which could increase revenue generation for the government. IMF’s Mission chief for Fiji, Asia and Pacific Department, Marshall Mills said the team was of the view that increasing VAT was one of the best ways to assist in rebuilding the revenue...

Strengthening investments

The Fiji Government delegation who are part of the 2023 Fiji Investment and Trade Mission to New Zealand, along with the local exporters were hosted by Ernst & Young (EY) to discuss pathways on how New Zealand can strengthen investments and partnerships in Fiji agriculture for successful exports. While sharing his vision, Deputy Prime Minister...

60th anniversary reward for customers

The Pacific Fishing Company Pte Ltd, better known as PAFCO is on a mission to reward its customers for the company’s 60th anniversary and one loyal customer leaves no chance of being forgotten. PAFCO’s 60th Anniversary Bash promotion was closed on March 11 and major winners were drawn at the Punjas Suva Office Board Room...

60 more Fiji bus drivers leave for NZ

About 60 more bus drivers are expected to leave Fiji for New Zealand in the coming week. Deputy Prime Minister and Minister for Trade Manoa Kamikamica made the remark while appearing on an interview with Radio Tarana in New Zealand this week. This comes as the Fiji Bus Operators Association (FBOA) expressed its concern about...

A new phase: The future of Fiji’s tourism industry is green

Under turquoise seas a unique cornucopia teeming with marine life awaits those lucky enough to holiday in South Pacific nation Fiji. Visitors here are welcomed with open arms. Tourism is vital to the lives and livelihoods of everyone in Fiji. Now rebounding strongly after the pandemic forced a virtual shutdown, Fiji’s tourism industry faces a...

Decision day for source codes ownership looms

The High Court in Suva will determine on March 28 the ownership of computer source codes — a company or its former director. Software Factory Pte Ltd (SFL) has taken civil action against former director Parmesh Dayal. It has asked the court to order Mr Dayal to hand over source codes being used by Software...

Significant risks to Fiji’s economic outlook remain – IMF

While Fiji’s strong economy is set to grow by 7.7 per cent of GDP this year, significant risks to the outlook remain, especially the high debt levels. According to the International Monetary Fund (IMF) team led by Marshall Mills, the team estimates Fiji’s debt levels to be around 85 per cent of the GDP, which...

Special recognition for Naituyaga

“NEVER had I imagined that I will reach such a milestone and achieve so much after starting my business.” These were the words of entrepreneur, Milinia Naituyaga after she received the special recognition award at the Academy for Women Entrepreneurs East Asia (AWE) Regional Summit 23 held in Kuala Lumpur, Malaysia earlier this month. A...

‘Rare gem’ in tourism

THERE are people in the tourism industry who stand out by just being who they are. These are the rare gems who strike a chord with tourists and locals alike. And their names are always synonymous with the properties they work in. Like Salote Naisua Bali. Her smile and warm greeting to every visitor to...

Policies should focus on medium-term growth – IMF

A team from the International Monetary Fund (IMF) recommends that with a strong economic recovery underway, government’s policies should focus on maintaining medium-term growth, rebuilding buffers and enhancing resilience. Led by IMF’s mission chief for Fiji, Asia and Pacific Department, Marshall Mills, the team also highlights that key priority is to reinforce the balance sheet...

It’s love at work

NOT many women can say they love the work that they do. Many find themselves having to contend with whatever work they can find and then search deep within themselves for the strength to continue in a career they never intended to get into in the first place. And then there are the lucky few...

Negotiator calls for a balanced and equitable framework

THERE is a need for a balanced and equitable framework that addresses the challenges faced by less developed members like Fiji, while pursuing economic advancements in the Indo-Pacific Region. This was stressed by permanent secretary for Trade, Co-operative, SMEs and Communications, Shaheen Ali, as Fiji’s Chief Negotiator of the Indo-Pacific Economic Framework (IPEF) in Bali,...

Engage with staff consistently

ENGAGE with staff consistently. This was the advice of BSP Life managing director Michael Nacola to more than 300 HR practitioners who attended the 2023 BSP Life FHRI Convention at the Sofitel Resort and Spa in Denarau. “It has to be something that you do because it is important,” he said. “It is just as...

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