Fund, Morobe govt sign deal to explore investment opportunities

NATIONAL Superannuation Fund (Nasfund) has almost K350 million worth of investments and 111,000 members in Morobe, an official says.
Nasfund chairman Charles Vee said the main investments by the fund were in Mainland Holdings Ltd, Panamex Pacific Ltd, Hornibrooks Ltd, Amal Pack Ltd and other property investments.
Vee made this statement during the signing of a memorandum of understanding with the Morobe government in an effort to explore investment opportunities and promote a saving culture in the province.
Vee said the first signing was done in East Sepik to look at the agriculture sector to promote a saving culture and this would be replicated in Morobe.
“The agreement will look at increasing Nasfund’s contributors in the province and work closely with the Morobe government to strengthen the contributor base for employees as well,” he said.
Through the MOU, some of the challenges that Nasfund had in the province could be taken up by the Morobe government which, in the long-run, would help contributors develop a saving culture, especially through long-term savings.
Vee said the second aspect was to look at investment opportunities as Morobe was the second largest revenue contributor and that major impact projects were coming up in the province.
“We are seeing opportunities in investment in this province through agriculture and other natural resources development like Wafi-Golpu gold and copper project and others,” he said.
Vee said the agreement provided an opportunity for them to work closely with the Morobe government to explore those opportunities and also the existing business partners.