Capital market community sets target

The capital market community in Fiji has set its target to reach over 100,000 investors by the end of 2020. In an interview with Sun Business, Fijian Holding Group Limited chief executive officer, Nouzab Fareed, revealed Fiji’s

current capital market had close to 40,000 investors and there was a need to bring in more.

Mr Fareed said Capital Fijian Holdings Unit Trust and Unit Trust of Fiji currently had more than 30,000 investors while listed companies had close to 15,000 investors.

“This means that we are still below 50,000 investors, but the target is to make it 100, 000 by the end of 2020,” he said.

Mr Fareed, who was among the 15 Fijian delegations that attended the 2019 World Exchange Congress said more awareness was needed on Fiji’s capital market on the

world market.

He said with Fiji hosting the 2020 World Exchange Congress in May next year, Fiji would be recognised both locally and globally.

“Globally capital market plays a big role and their countries that have capital market who are much larger their GDP,” he added.

“A lot of people at the 2019 World Exchange Congress were not aware that Fiji had a stock exchange.

“I was happy that Fiji’s stock market is highly modern in terms of other stock market in the world while we are far away in terms of participation.”

He added: “In Fiji it is still small, our stock markets is becoming large now in terms of market capitalisation but still we don’t have enough people.

“We will need to create awareness and we are grateful to the Government who have agreed to fund the World Stock Exchange Congress in Fiji in May 2020.”

Mr Fareed said this would put Fiji on the world map and also Fijians would also be aware of their own capital market.