11 March 2021, Lautoka | 12 thousand Sugarcane farmers to benefit from a joint agency collaboration between Unit Trust of Fiji and the Sugar Cane Growers Council.
An historic milestone was reached this afternoon between UTOF and SCGC, to empower the sugarcane growers to save and invest for their future. The initiative was formalized by a Memorandum of Agreement (MOA) that will pave the way for the sugarcane growers to access UTOF’s financial services and investment facilities.
Under the Agreement, UTOF will work closely with the Council and the Fiji Sugar Corporation (FSC) to redirect an agreed farmers cane proceeds revenue to be invested in UTOF for future financial needs. Essentially, cane growers will be able to invest directly with UTOF based on the highly competitive Tax-Free returns for the growers future investment needs.
UTOF Chairperson Shaenaz Voss said this initiative enables the 12 thousand growers to directly access UTOF’s services and competitive returns. Such arrangement will create an enabling environment where growers to build their wealth for their future needs. She further stated that UTOF is ready to empower the growers and provide competitive returns on the growers investment based on our $245 million investment portfolio.
The Council’s Chairperson Reshmi Kumari said the event concludes the three-tier financial empowerment approach for the financial well-being of the growers. She further stated that the Council is appreciative of this joint agency collaboration and is in line with the Fijian Government’s effort to improve the financial well-being of the farmers.
UTOF also opened its new office at the Growers council building in Lautoka to support this initiative.
The two Chairpersons today was also a fitting tribute to the International Women’s Day whereby the two institutions are being led by two women Chairpersons. An appreciation was accorded today, with great expectations now initiated to advocate for personal wealth management, reduce institutional dependency and encourage financial independence.
For more information, please contact Sakiusa Bolaira on 9980150 or email; email@example.com