The South Pacific Stock Exchange (SPX) is ramping up its initiatives aimed at enhancing financial literacy among the public, with a specific focus on Fiji. During the recent “Ring the Bell for Financial Literacy” ceremony, SPX Chief Executive Sheraj Obeyesekere revealed that a strikingly low ten percent of Fiji’s stock market is owned by individual investors, while institutional investors dominate the remaining ninety percent.
Obeyesekere stressed the critical need for individuals to be well-informed in managing and investing their finances. This year alone, the SPX has conducted nearly 100 community engagements across the country to demonstrate that investing in shares is accessible even to those not classified as wealthy. He highlighted the invaluable insights gained from visiting rural communities, where locals expressed that a lack of financial literacy had hindered their potential to better their financial circumstances.
The Chief Executive further articulated that empowering communities with financial knowledge is essential for enhancing their overall financial well-being. He emphasized the importance of collaboration among financial institutions, advocating for a collective approach to broadening financial literacy efforts. Such cooperation is deemed crucial in shaping Fiji’s future and empowering its citizens to make sound financial decisions.
This push for financial education coincides with a broader optimism within the SPX, which has seen a remarkable increase in investor engagement, including a 200 percent surge in new investors this year attributed to various educational campaigns. The SPX’s previous initiatives have also led to a rise in daily trading values among individual investors, indicating a growing appetite for market participation.
With community outreach efforts at its core, the SPX is paving the way for a more inclusive financial environment in Fiji, ensuring that more individuals can participate in the capital market and contribute to economic growth. The commitment to fostering greater financial understanding and engagement aims not only to bolster individual financial health but also to strengthen Fiji’s overall economic resilience in a changing financial landscape.