Bank South Pacific Life and Fiji Kava has announced a $2 million investment program to support a five-year plan for expanded operations in Fiji, the Fiji Broadcasting Commission reports.
BSP Life is the first local company to invest in Fiji Kava through convertible notes.
Fiji Kava Chief Executive Officer Anthony Noble says the investment will support increased processing in the company’s Levuka facility as well as set up regional nurseries and logistics hubs linked to Kava growing cooperatives across the country.
It’s great to have them on board and we call this an impact investment. So that means that 100 per cent of the investment will be spent in the Fijian market to have an impact that can through the purchasing of Kava, we’re doing a significant capital investment in upgrading our facility at the moment and also investing, training and partnerships with local communities that grow Kava over time.”
Fiji Kava says the total consumption of Kava in Australia is around 70 tonnes per year.
Source : FBC
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