The Fiji Development Bank (FDB) is actively encouraging young iTaukei individuals to consider early investment in property as a means to ensure financial stability and create a legacy for future generations. FDB Chief Executive Filimone Waqabaca addressed a pressing issue within iTaukei families, many of whom experience the unfortunate reality of parents passing without passing down property or significant assets to their heirs.
Waqabaca emphasizes that by investing in property at a young age, families can break the cycle of inheritance gaps and build a foundation for wealth that can be handed down. He stated, “If we can buy property now at an early age, after a few years, use that first property as security and generate from there,” highlighting the potential long-term benefits of property ownership.
Furthermore, Waqabaca pointed to the FDB’s flexible loan terms, which can extend up to 30 years, as an advantageous option for young buyers who may be concerned about the upfront costs of investment. This initiative aims to strengthen generational wealth and improve economic outcomes for iTaukei communities, fostering a culture of financial responsibility and stability.
By encouraging the youth to take proactive steps towards property investment, the FDB is not only promoting individual financial growth but also working towards enhancing the overall economic landscape of iTaukei communities. With the right tools and resources, young individuals can create lasting change and contribute positively to their family legacies.