Fiji Welcomes Largest-ever Private sector Investment from Japan
The Fijian Government has entered into an agreement under which a consortium, namely Sevens Pacific Pte Limited, owned by Chugoku Electric Power Company (“CEPCO”) and the Japan Bank for International Cooperation (“JBIC”) will acquire a 44% shareholding in Energy Fiji Limited (“EFL”).
The investment by CEPCO and JBIC is the culmination of an exhaustive process to identify a highly experienced and credentialed international utility to acquire a shareholding in EFL. It was a critical objective of any transaction that the investor not only offer a financial investment to Fiji, but contribute deep operational expertise and experience in electricity generation and networks.
CEPCO’s exceptional track record as an international, integrated electricity utility made them the ideal candidate for the divestment. With CEPCO and JBIC as strategic shareholders, EFL will have the ability to tap into world-leading operational expertise, project delivery experience, technology and financial capacity to support the company in meeting the growing electricity demands of the nation and its renewable energy targets, while also providing reliable, renewable and affordable electricity to all Fijians.
Fiji is wholly committed to an ambitious net-zero carbon emissions target and plans to transition away from fossil fuels and to utilise exclusively renewable energy sources by 2050. With over 50% of EFL’s electricity already generated by renewable sources of hydro, wind and biomass, Fiji is well placed to achieve its long-term targets. The combined expertise and capital of CEPCO and JBIC is expected to dramatically boost this transition.
Acting Minister for Economy, Mr. Faiyaz Koya also announced his full support for the transaction:
“Energy Fiji Limited has found a reputable partner for change in the Chugoku Electric Power Company as it prepares to spearhead Fiji’s transition to carbon neutrality by 2050. Despite the obvious challenges the COVID pandemic has posed for cross-border agreements, Fiji and Japan have capped 50 years of strong diplomatic ties with the single-largest investment ever made by a Japanese company in Fiji. With Chogoku’s operational capacity and expertise at its disposal, EFL can perform better for the Fijians who rely on their services today while transforming into the driving force behind Fiji’s renewable energy revolution.”
The consortium will acquire 44% of shares in EFL, acquiring 24% from Government and 20% from FNPF. As a result of the share purchase, FNPF will fully divest its shareholding in EFL to the consortium. FNPF’s Acting CEO, Viliame Vodonaivalu, who led the initial investment in EFL, expressed his strong support for the transaction and acknowledged the tireless efforts by all employees at EFL in building an outstanding company.
“The opportunity for FNPF to invest in EFL was unique in both the quality and scale of the business and supported our investment strategy to diversify into more growth assets. EFL is an exceptional operation and undoubtedly one of Fiji’s leading corporations, supported by the dedicated efforts of management and employees.
Today we are happy to announce to our members that the investment was a success, yielding excellent returns for them especially given the prevailing economic environment. This will further solidify our financial performance and return capital for reallocation to other investment opportunities.
Following the divestment, the Fijian Government will continue to remain the major shareholder in EFL, retaining a controlling interest of 51% of the shares in EFL while Fijian account holders with shares in EFL continue to hold 5%. Following the signing of the share sale agreement, a number of additional conditions are required to be met before the financial close.
The Government was advised by ANZ Corporate Advisory and Squire Patton Boggs.
(Source: The Fijian Government Website, 26 March 2021)
Video message – New Year Greetings from HE Mr. Isikeli Mataitoga, Ambassador Extraordinary and Plenipotentiary of the Republic of Fiji to Japan
The coronavirus pandemic forced the Governor of Tokyo to cancel the “Tokyo Ambassadors Night,” a New Year’s reception which the Tokyo Metropolitan Government holds every year. This year, Ambassador Isikeli Mataitoga was honoured to represent the diplomatic corps in Tokyo, and delivered a New Year greetings and words of encouragement to the citizens of Tokyo.
Please click the link https://www.youtube.com/watch?v=hU0rHjb-4_Y
TROPICAL CYCLONE YASA RELIEF APPEAL
The Embassy of the Republic of Fiji in Tokyo has set up a Tropical Cyclone Yasa Relief Fund Account, to assist the people of Fiji, who have been badly affected by the most horrific cyclone destruction.
Tropical Cyclone Yasa, a category 5 storm cyclone, brought gusts of wind of up to 345km per hour, causing flooding and landslides. Fiji’s second-largest island Vanua Levu and coastal areas of many islands were impacted by storm surges and flooding during the height of the storm on the 17th December 2020.
In the aftermath of the cyclone and flooding, there has been a loss of lives, many people left homeless, massive destruction of buildings, schools, hospitals, public infrastructure and businesses, villages and some maritime islands were flattened, and livelihoods destroyed. The full cost of the damage suffered by the people of Fiji will not be known for a few weeks as the relief assessment teams are currently working hard with the limited resources they have and with the assistance from donor countries to span the whole of affected Fiji. However, the cost of damage is estimated at hundreds of millions of dollars. It was the strongest storm in the basin since TC Winston in 2016 and the strongest in the cyclone season 2020-21.
The relief donations will be used to rebuild the lives of the many people across Fiji who suffered the cyclone’s drastic devastation to their homes and livelihood. Notable schools in Bua, Macuata, Cakaudrove in Vanua Levu, Taveuni, Yasawa, and Southern Lau have suffered severe damage to classrooms, teachers’ quarters, textbooks, school resources, etc. These schools are needed to be rebuilt now, forcing many students to find alternative schools to continue their studies as reconstruction work on these schools would take 1 to 2 years to complete. Also, many affected students would be without school stationery and uniforms.
The Bank and the Bank Account details in which you may deposit your financial donation is as follows:
Account Number: 3043244
Account Name: FET NATURAL DISASTER RELIEF APPEAL FUND
Name of Bank: Mizuho Bank (Savings)
Branch Name: Kamiyacho Branch
It is anticipated that most people in Vanua Levu and rural maritime islands will be without homes. More than 3,206 people are still living in evacuation centers. Initial damage assessment, which was completed on 28 December by the Commissioner Northern Division, reveals that 6,000 houses were partially damaged while 1,500 houses were damaged entirely caused by flooding, storm surge, and destructive winds in the wake of TC Yasa. Many houses are needed to be rebuilt and will require emergency shelter (tarpaulins and toolkits) and essential household items assistance (clothing, kitchen sets, solar lamps, blankets), as well as appropriate technical assistance. According to the Ministry of Education Fiji assessment, close to 85 schools in TC Yasa affected areas have sustained damages.
As a result of massive damage to agricultural areas on Yasawa-i-rara, Vanua Levu, Taveuni, and Maritime Islands, including Koro, Cicia, Moce, Komo, which is home to many farmers, food security has also been impacted as livestock and farms have been destroyed.
The core expense of the Government’s rehabilitation and reconstruction work is three-pronged which encompass (i) provisions of basic needs (food, shelter, water, accessibility, livelihood, health, and sanitation; (ii) restoration of essential service (roads, ports, jetties, airfields, water electricity, communication, education, continuity of Government machinery); and (iii) economic recovery (infrastructure, utilities, tourism sector, private sector, agriculture, fisheries, and forestry).
Thank you most sincerely for your goodwill and generosity to help.
TC Yasa Loloma Package Launch
The Ministry of Rural and Maritime Development and Disaster Management in collaboration with the Fiji Revenue and Customs Service and Fiji Airways have launched the “TC Yasa Loloma Package” which provides a 30% discount for organisations, groups and individuals living abroad to send disaster relief items to Fiji with Fiji Airways.
The 30% discount on market cargo rates is applicable for consignment of relief items from Auckland, Sydney, and Los Angeles. The offer is valid until January 15, 2021 and is dependent on the availability of space on the flights.
The package complements the duty concession on disaster relief goods announced earlier by the Fiji Revenue and Customs Service. The concession includes exemption from VAT, Fiscal Duty and Import Excise.
The Ministry of Rural and Maritime Development and Disaster Management is grateful to the Management teams of the Fiji Revenue and Customs Service and Fiji Airways for their commitment to reduce costs that will enable Fijians and friends of Fiji living abroad to send relief items.
There are two options of delivery offered as part of the Loloma Package. The first is for NDMO to receive and distribute the relief items on behalf of the sender. The second is for a NDMO certified donor in Fiji to receive and distribute the items.
More details and the online form for the Loloma Package are available on the NDMO website www.ndmo.org.fj. Queries can be sent to ndmofiji.media@gmail.com
https://www.fiji.gov.fj/Media-Centre/News/TC-YASA-LOLOMA-PACKAGE-LAUNCH
Employment Opportunity – Embassy of the Republic of Fiji in Tokyo
PERSONAL ASSISTANT/ CONFIDENTIAL SECRETARY TO AMBASSADOR required by the Embassy of the Republic of Fiji in Tokyo.
Position-Description-Personal-Assistant-Confidential-Secretary-to-AmbassadorAll applications to include an up-to-date Curriculum Vitae (CV), at least two referees with one being the current or recent supervisor and a covering letter of no more than two pages, which explains how you meet each of the selection criteria. Applications that do not address the selection criteria will not be considered.
An attractive salary will be offered to the above position.
Closing date of Vacancy: Friday, 25 December 2020
Queries and applications are to be addressed to Mr Ashneel Shankar, Second Secretary, via email: ashneel.shankar@fijiembassy.jp or phone: +81-3-3587-2038.
His Excellency President Major General (Ret’d) Jioji Konusi Konrote’s Fiji 50th Independence Day Message
Bula Vinaka and happy Fiji-50 Day.
I began our 50th Anniversary celebrations in Levuka, Fiji’s first capital under the colonial government. There I journeyed through history, visiting the 1874 Deed of Cession site, speaking with those who lived through our independence in 1970, and spending some very happy time with Levuka’s children –– just some of the young Fijians who will forge Fiji’s future. All the while, it was pouring rain on the island. And when it came time for our tree-planting ceremony, it was still coming down hard.
No matter –– we headed out into the downpour to kick-off our Fiji-50 celebrations with smiles on our faces. We knew the rain could dampen our celebration, but never our spirits –– nothing ever could.
My fellow Fijians, the challenge of this year has been more serious than any bout of bad weather. Even though Fiji may be the safest place in the world from COVID-19, the closure of our borders has made the pain of this pandemic personal for all of us. But today is our day–– our Fiji-50 Day –– and no virus, no once-in-a-century crisis can temper the love we share for our nation, our people, our home.
We are keeping COVID-safe, so we will not be breaking any attendance records at the RFMF parade in Suva’s Albert Park. Indeed, most of you are watching this from home among friends, family, and neighbours, perhaps with a Fijian flag flying from the roof of your home, held in your hand, or draped around your shoulders, with a lovo or curry cooking in the back. Some may be mixing kava.
No –– this Fiji Day will not be remembered for being lavish. But it will be remembered. History will tell that today, despite the great adversity we faced, our spirits were not broken. In good spirits and good health, Fijians in every city, town, community, including our most rural and maritime regions, proudly celebrated our 50-year journey as a nation.
Together, over these five decades, Fijians have risen to heights some never imagined, but which we always saw for ourselves. We are a major contributor to peacekeeping in the world, and a world leader in the fight to combat climate change and protect our oceans. We are the economic hub of the South Pacific, the leader in aviation, finance, telecommunications, and technology, trade, and commerce. We have vastly expanded our networks of infrastructure. We have put the ills of the past behind us. Today all Fijians share common and equal citizenry and equal votes of equal value, along with a vast array of political and socioeconomic rights in our Fijian Constitution.
Our ruggers have come home from the Olympic Games with gold around their necks. We have played host to major international meetings and sporting events. While our borders may be closed today, we are still one of the world’s most desirable tourist destinations.
Our success is not owed to luck or chance. It has come because our people, with their diverse strengths and skillsets, have together propelled Fiji forward, both knowingly and unknowingly. Because we have united, because we worked hard, and because we have pooled our talents, we have built a great nation; we have defined what it truly means to be a Fijian. And what is that? To be a Fijian is to have courage and optimism. To be a Fijian is to love this country, love your neighbours, and look after your fellow citizens, irrespective of their background. Because to be a resilient people, we must be a strong people, a caring people, and a united people. Together we have done great things, and together we will do more great things in the next 50 years.”
Nowhere is that hope for our future more visible than in the aspirations of the youngest among us. That is why, this year, we asked the students of Fiji to tell us: “What makes Fiji Special?”
We asked, and the bright, hope-filled children of Fiji gave us wonderful answers: Our many languages. The many ways we worship God. Our many proud traditions. Our love of sports like football, netball, and, of course, rugby. Our untouched reefs, beaches, forests and waterfalls. Our rights and freedoms as Fijians. Our Fijian Constitution. Our music. Our sugar. Our fruits and vegetables. Even our lovos and our curries.
But my favourite answer came from Alexandra Surendra and Ana Maria Tovate from the Saint Joseph’s Secondary School. They told us that regardless of our country’s spectacular scenery and our exceptional experiences, it is the Fijian people who together make our journey complete.
My fellow Fijians, Alexandra and Ana Maria were right, and are clearly wise beyond their years. The past 50 years have proven that it is our people who, together, have made Fiji the most special place on Earth.
No matter how we arrived here, no matter who our ancestors are, we all make Fiji special, we all make Fiji stronger. When we stand together, as friends, as family, as fellow Fijians, there is no challenge we cannot overcome, there is nothing we cannot achieve. So, to every Fijian, wherever you are, however you are celebrating, I thank you for all you do to make Fiji special, and I wish you a very happy Fiji-50 day.
God bless you.