Fijian Holdings Limited (FHL) has reached an extraordinary financial milestone by distributing over five times its initial capital to shareholders since its founding in 1984. Prime Minister Sitiveni Rabuka, who inaugurated the new FHL Tower in Suva, emphasized that this achievement showcases the vision and tenacity of the iTaukei-led conglomerate and its founders.
FHL, which commenced with a humble capital base exceeding $1.1 million, has grown into a substantial $900 million conglomerate with interests spanning finance, construction, tourism, retail, and manufacturing. Rabuka highlighted the remarkable returns for early investors, noting that consistent dividend payments and increasing share values have yielded returns equivalent to 15 times the original investment. This positions FHL as one of the most successful indigenous-owned corporations in the region, reinforcing the importance of economic participation for dignity and national progress.
Despite facing challenges due to the COVID-19 pandemic, global supply chain issues, and market modifications, FHL has succeeded in maintaining profitability. The corporation is now setting its sights on surpassing $1 billion in total assets by 2026, indicating a new phase of growth and increased confidence in its prospects.
This recent success follows FHL’s 40th anniversary celebrations, during which CEO Jaoji Koroi remarked on the ninefold increase in share value and its significant impact on empowering iTaukei resource owners. At the anniversary event, several shareholders were recognized for their dedication, underlining the vital contributions made over the decades to the company’s vision.
The company’s enduring commitment to fostering economic empowerment aligns with Fiji’s national objectives and showcases a unique model for inclusive growth within the Pacific region. FHL’s significant accomplishments, such as a property portfolio valued at $183 million, further exemplify its strategic investments aimed at promoting economic participation among iTaukei communities.
In summary, FHL’s trajectory over the past four decades reveals an inspiring story of growth, resilience, and community empowerment. With a forward-looking vision and a commitment to sustainable development, FHL aims to continue fostering economic prosperity in Fiji and the wider Pacific region, highlighting a promising future for its shareholders and communities alike.