Businessman initiates new venture

 LAE businessman George Paul has initiated a unique approach to doing business with the goal of empowering and enriching other Papua New Guineans through give-away promotions from draws.

Paul’s company Wealth Sharing is like a brokerage firm, which negotiates with big companies and buys off their products and then sells raffle tickets at a much smaller price to members of the public to win.

Paul said he did three years of feasibility study on this approach, also taking into consideration the average person’s cost of living, unemployment rate and spending power before coming up with this idea.

He said Wealth Sharing started operations by paying for bigger goods or products before doing promotions and selling his raffle tickets mainly at the three bus stops of Lae market, Eriku and Top Town.

“Wealth Sharing is not really about making huge profits but is about human beings helping another human being, creating job opportunities, fight poverty, it’s like sharing the love,” Paul said.

He said the second branch of Wealth Sharing would be opened in two weeks’ time in Popondetta.

Paul said small businessman John Mekere, who operated a trade store in Markham, sold basic food items like rice, tinned fish and noodles. 

Mekere bought a K3 ticket several months ago and became the first winner of one tonne of rice bought from Home State rice manufacturer.

“Mekere spent K3 and won a tonne of rice which is equivalent to 50 20kg bags valued at K3,367, he is our first winner under the Wealth Sharing ticket,”  Paul said.

Mekere thanked Paul and said he won the rice at a time when there the drought was starting to affect the Markham valley.