The co-operative will act as the business arm of the Fiji Police Credit Union and help create economic activity in the country.
Acting Prime Minister and Minister for Trade, Manoa Kamikamica said this about the Fiji Police Families Savings and Investments Co-operative Limited, an initiative designed for the Fiji Police Force members and their families to invest in and benefit from business ventures.
Mr Kamikamica officiated at the launch of the initiative in Suva on Thursday.
“The future is bright for the Fiji Police Families Savings and Investments Co-operative Limited,” he said.
“I have been informed that the co-operative will have a diversified business portfolio from thrift and savings, real estate, wholesale and retail and transport services.
“This is what the Coalition Government believes in; investing, diversifying and shaping the future for a better Fiji.”
Mr Kamikamica said the co-operative joined 550 working co-operatives in Fiji that hold over $151 million in assets, $26 million in revenue, and a record net profit of $2.5 million.
“We have 36 operating co-operatives that are from the thrift and credit sector that hold $115 million or 76 per cent of the total asset base of the co-operative portfolio in Fiji,” he said.
As a new co-operative, the Fiji Police Families Savings and Investments Co-operative could enjoy an eight-year tax holiday under the Co-operative Act 1996.
Feedback: jernese.macanawai@fijisun.com.fj
