Fiji’s education sector has reached a significant valuation of $350 million, as reported by Hasmukh Lal, CEO of Oceania Education & Technology Solutions (OETS). This revelation came during the launch of the Oceania Institute of Technology (OIT) in Nadi, which is a new subsidiary of OETS.
Lal, with nearly 18 years of experience in the tertiary education field and 12 years in leadership roles, emphasized that the educational landscape is evolving rapidly, driven by technological advancements and global connectivity. He pointed out that the upcoming Generation Alpha will be heavily integrated with technology, thus shifting how education is delivered and received.
In terms of funding, Lal detailed that within Fiji, approximately $150 million is designated for scholarships, alongside $100 million allocated for operational grants to tertiary institutions, including the Tertiary Scholarship and Loans Service (TSLS) and the Higher Education Commission of Fiji. Additionally, the Fiji National Provident Fund’s 2025 annual report indicated that around $40 million was dedicated to education assistance and development grants. Furthermore, scholarship expenditures in Fiji are estimated at $25 million, with various private fee-paying programs contributing around $10 million, and around $25 million sourced from levy collections. This comprehensive breakdown solidifies the $350 million figure as a conservative estimate of annual public and private investment in the country’s tertiary education sector.
Lal stressed that such substantial investment underscores the need for a review and bolstering of laws to ensure the government and public sector can achieve optimal returns. He advocated for the exploration of public-private partnerships to enhance human capital development, particularly if public institutions fall short in meeting the country’s educational needs.
In a forward-looking initiative, Lal announced that OIT aims to have a strong Pacific focus and will engage in consultations with both governmental and private sector entities. To further enhance community impact, OIT plans to establish a Centre for Entrepreneurship & Community Empowerment.
Having personally invested $1 million in this new institution, which is located at Challenge Plaza in Namaka, Nadi, Lal shared that the Pacific Hub is already enrolling students, with the first trimester set to begin at the end of February. This development holds promise not only for enhancing education options in Fiji but also for fostering entrepreneurship and community growth throughout the region.