1. The Chief Guest and Co- Chairperson for Termite Government Project- Assistant Minister for Women, Children and Social Protection- Hon. Sashi Kiran
2. Representing Director Operation- Ministry of Multi Ethnic Affairs & Sugar Industry- Ms Dayal
3. Board Member Mr Chaudhary
4. All institutional Heads, stakeholders, Government officials,
5. Our Business Partners
6. Valued Growers and Invited Guests
7. Management, and Staff of SCGF

Bula Vinaka, Good Morning & Namaste

First of all, allow me to thank the almighty and acknowledge the past, current, and future owners of this land, where we stand.

Today is another great day for us at Sugar Cane Growers Funds as we are committed to assisting our growers and supporting Government programs and or International Programs such as the National Sustainable Development Goals.  

The launch of House Loan (Termite) is another way to assist the growers and synergize with Government programs. This loan will go long way and thank the Government and Assistant Minister for such bold action and decision to support those in need. Thank your madam. This loan comes with interest rate of 2.99% for 12 months and then 4.5% and loans can range from $1000 to $50,000 depending on the cane production and lease term.  

Let me also highlight our achievements of the last 12 months of 2024 and to name a few-

1. Introduced Special New Farmer Package at 2.99% interest rate and variable now 4.5%;  
2. Revised Loan Policy in Reduction of Equity and increased medical Loan Package cap;   
3. Introduced Off-Season Burnt Cane Rehabilitation Package;
4. Green Cane Initiative of Interest Rate Reduction – 75% Green Cane – 749 Growers will have interest reduced to 4%- Giving Back $0.150m; 
5. SCGF Loyal Program launched on 8^th December 2024 – 10 Partners of different works of life at present and talks are in progress with Retailers, Private Hospital and Airline; 
6. Loan interest rate reduction from 1^st January 2025 from 6% to 4.5%, giving back $0.500m; and  
7. Also, we are in the process of diversifying the Balance Sheet, which includes real estate investments and returns passed to growers;  

Way Forward 2025

We expect the year to be challenging and exciting as we have approved our Annual Budget, anticipating business growth against the backdrop of interest rate reduction and production increase. We also expect to revisit our Strategic Plan by early next year.

Conclusion 

Thank you very much and wish you all a Merry Christmas and Happy New Year.

Thank you and Vinaka Vakalevu .

Raj Sharma

Chief Executive Officer