Join our daily newsletter At The Bell to receive exclusive market insights
- Health and Wellness company Fiji Kava (FIJ) signs an agreement with iTaukei Trust Fund Board to develop its supply chain with commercial partners in Fiji
- The parties will develop a local supply chain through partnerships with Indigenous communities and other commercial parties
- The strategic partnership includes creating additional commercial nurseries in Fiji to grow and supply Noble Kava plantlets to contracted farmers
- On the market this afternoon, Fiji Kava is up 4.44 per cent and is trading at 9.4 cents per share
Fiji Kava (FIJ) has signed an agreement with the iTaukei Trust Fund Board (TTFB) to develop its supply chain and relationships with commercial partners in Fiji.
TTFB was created by the Fiji Government and supports the economic and social advancement of indigenous Fijians through commercial activities and local development programs.
It is also one of the leading impact investment funds in the Pacific with more than $200 million in funds under management.
The parties signed a memorandum of understanding to develop a local supply chain through partnerships with indigenous communities and other commercial parties.
Under the agreement, Fiji Kava and TTFB will provide support to Fijian farmers including additional training, access to desirable Noble Kava plantlet varieties and aiding their transition to larger scale operations.
Fiji Kava produces Noble Kava products for the natural medicine market.
The strategic partnership includes creating additional commercial nurseries in Fiji to grow and supply Noble Kava plantlets to contracted farmers.
Additionally, as part of the agreement, TTFB will take a stake of Fiji Kava, with proceeds used to strengthen the company’s local operation.
Fiji Kava CEO Anthony Noble said the agreement created a long-term relationship with TTFB.
“Working with TTFB through the agreement will significantly strengthen the quality, volume and consistency of our supply, which will underpin the future growth of Fiji Kava’s ‘Noble Kava’ range of products across our global market,” he said.
“We continue to invest and focus on supply chain robustness through inventory management, commercial partnerships and geographical diversity.”
On the market this afternoon, Fiji Kava was up 4.44 per cent and is trading at 9.4 cents per share at 3:40 pm AEST.
