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Vanuabalavu fete, a grand success

Tevita Vuibau
Sunday, October 14, 2012

THE Vanuabalavu festival has been hailed a success after organisers of the three-day fete raised $354,384.25.

Official Mesake Koroi said the festivities were publicised as a universal reunion for the people of Vanuabalavu.

"This festival took about a year to plan and organise and the amount we've raised is the culmination of all that planning and hard work," Mr Koroi said.

"As a matter of fact we aimed to raise $300,000 but we managed to surpass that and this is a success as far as we're concerned."

He said the money would be used on the Vanuabalavu Islands Trust and the Vanuabalavu Holdings Ltd.

"The Vanuabalavu Islands Trust will own Vanuabalavu Holdings Ltd and this means it will own 51 per cent of the shares in the trust. And the rest of the shares will be owned by the 17 villages in Vanuabalavu," he said.

He said each village, had set itself a target, which was $25,000 for big villages, and $15,000 for smaller villages.

"So for example, the villages that raise $25,000, $20,000 of that will go to the trust and $5000 will go as that village's share in Vanuabalavu Holdings Limited."

Mr Koroi said the money derived by the trust from dividends in its subsidiary company Vanuabalavu Holdings Limited would be used to invest in the education of the children of Vanuabalavu.





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