Bonga asks local company to sell shares to his people

Lae News, Normal

NAWAEB MP Timothy Bonga has asked Mainland Holdings Limited to allow his people to become shareholders of the group of companies.
Mr Bonga made the request at the launching of a major chicken project in his electorate which is owned – not by his people – but people from the FISIKA region which are the districts of Finschaffen, Siassi and Kabwum – three of the biggest and most populated districts in the Morobe province.
The chicken farm is owned by them through their joint company Finschaffen Marketing Development Corporation (FMDC).
FMDC is a shareholder in Mainland Holdings which is owned by 14 other locally-owned business groups from Morobe and Oro provinces.
The people of Musom area in Mr Bonga’s electorate had given FMDC a piece of land at Gobari outside Lae to build their chicken project which will involve a total of eight sheds, each taking up to 6,000 chickens at one time.
Mr Bonga asked the company board of directors and managements to consider including his people as shareholders, saying they were prepared to put up the required money to pay for their share in the company.
Mr Bonga said he would follow up his request in writing to the company.
Nawaeb district has more than 50 chicken growers who are mostly village farmers.