Advances in Lease Payments and Support for Landowner Participation
Our General Manager, Mr Semi Dranibaka, talks about- “Fiji Hardwood Milestones” in the video below.
He talked about making advanced lease payments to ensure that landowners receive the full benefits of their agreement.
In the first half of 2024, Fiji Hardwood has taken significant steps to support our landowners by making advance payments for their leases. We are pleased to announce that we have paid all pending leases from February through June of this year. This first advance payment was made in January of this year.
We have also completed payments for the second half of the year, extending right up to December. This advance payment is great news for our major landowners, ensuring financial stability and peace of mind.
In addition to lease payments, we have fulfilled all our outstanding stumpage payments from last year and have also covered the last three months. This commitment underscores our dedication to providing a fair share to our landowners, allowing them to benefit directly from Fiji Hardwood’s success.
We are actively working with government budget releases and collaborating closely with the Ministry of iTaukei Affairs, the iTaukei Land Trust Board (ITLTB), and Fijian businesses to encourage greater landowner participation in the forest industry.
With the right government support, we anticipate the rise of many Fijian-owned businesses within the mahogany industry this year, marking a new chapter of growth and collaboration.