The newly inaugurated Fijian Holdings Limited (FHL) Tower is set to significantly enhance the involvement of iTaukei people in Fiji’s economy. This landmark structure represents a major milestone in the ongoing efforts to empower indigenous communities through business participation and investment.
During the inauguration ceremony, Prime Minister Sitiveni Rabuka highlighted that the FHL Tower not only showcases exceptional architectural design but also symbolizes the realization of a vision established over four decades ago. This vision aims to encourage the iTaukei community to take active roles as participants and leaders in the nation’s economic development. The Prime Minister noted, “This tower stands as a reflection of what can be achieved through clear vision, courage, and determination. It symbolizes our progress as a resilient, faithful, and united people. FHL’s growth proves that local leadership can deliver world-class results.”
Rabuka praised FHL for its unwavering commitment to overcoming challenges, which included disruptions caused by the COVID-19 pandemic and global supply chain issues that delayed the project’s completion.
Established in 1984, FHL was created to promote iTaukei ownership in crucial sectors of Fiji’s economy. Today, it has grown into a $900 million conglomerate that employs nearly 2,000 Fijians across various industries such as finance, construction, tourism, and retail. Rokoseru Nabalarua, Chairman of the FHL Board, described the 18-storey eco-friendly tower as “a beacon of hope” for increased iTaukei business representation, crediting the visionary contributions of past leaders who paved the way for FHL’s achievements.
Strategically located in Suva, the new FHL Tower will house several significant local and international organizations, including the Asian Development Bank, the Korean Embassy, and the United Nations Development Program. This establishes the tower’s position as a vital element in enhancing the region’s financial ecosystem.
The opening of the tower is part of a broader $50 million impact investment initiative by FHL, aimed at creating economic opportunities for iTaukei communities. Previous reports reveal that FHL has already allocated $14.6 million of this fund for joint ventures across various localities, promoting greater economic participation among iTaukei resource owners.
As FHL continues its mission to empower indigenous populations and foster economic participation, the completion of the FHL Tower stands as a hopeful indication of growth and resilience. This development not only showcases the potential for sustainable growth but also reinforces the importance of local leadership and investment, promising a prosperous future for both the company and the communities it serves.