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Set up funds

Repeka Nasiko
Monday, August 18, 2014

WITH 593 landowning units, the Ba Province has one of the largest numbers of landowners in the country.

This is why the company entrusted with shares distributed to provincial councils through business ventures want the landowners to establish their own trust funds.

The Ba Provincial Holdings Company Ltd through its restructure program has been encouraging landowning units in the 107 villages to establish their firms.

"The plan is that when you talk about the tokatoka or the mataqali — it's a vanua structure," said Ba Provincial Holdings Company Ltd Commercial and Business Services manager Jese Saukuru.

Mr Saukuru believes the only way landowning units can prosper from the native land lease payments is if they reinvest their income.

"We need to get our people to establish a more business-like structure.

"They need to have a trust and that becomes their business arm.

"For instance, for my tokatoka, which is a vanua structure, we don't talk much about getting into business but in order to change that we need another platform — a business platform."

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