Fijian Holdings Limited (FHL) has achieved a remarkable financial milestone, having returned more than five times its initial capital to shareholders since its inception in 1984. Prime Minister Sitiveni Rabuka, speaking at the inauguration of the new FHL Tower in Suva, praised this achievement as a testament to the vision and determination of the iTaukei-led conglomerate and its founders.
Starting with an initial capital of over $1.1 million, FHL has transformed into a substantial conglomerate worth approximately $900 million, with diverse interests in sectors including finance, construction, tourism, retail, and manufacturing. Rabuka emphasized the benefits for early investors, noting that ongoing dividend payments and rising share prices have resulted in returns reaching 15 times the original investment. This positions FHL as one of the most successful indigenous-owned corporations in the region, underscoring the significance of economic participation in fostering dignity and national progress.
Despite navigating challenges such as the COVID-19 pandemic, global supply chain disruptions, and evolving market dynamics, FHL has proficiently maintained its profitability. The corporation is now focused on achieving over $1 billion in total assets by 2026, reflecting a new phase of expansion and an optimistic outlook for the future.
This latest success follows FHL’s recent 40th anniversary celebrations, where CEO Jaoji Koroi highlighted a ninefold increase in the company’s share value and its positive impact on empowering iTaukei resource owners. During the celebrations, several loyal shareholders were acknowledged for their commitment, showcasing the significant contributions made over the decades towards achieving the company’s vision.
FHL’s steadfast dedication to promoting economic empowerment aligns with Fiji’s national aspirations and presents a distinct model for inclusive growth within the Pacific region. The company’s achievements, including a property portfolio valued at $183 million, illustrate its strategic investments aimed at enhancing economic participation among iTaukei communities.
FHL’s impressive journey over the past four decades exemplifies growth, resilience, and community empowerment. With a forward-thinking vision and commitment to sustainable development, FHL is well-positioned to continue driving economic prosperity in Fiji and the wider Pacific region, promising a bright future for its shareholders and communities alike.