Growers urged to use money wisely

National, Normal

The National, Friday, May 13, 2011

WEST New Britain is brimming with money, with milling companies paying out an average of K8-K10 million per month, New Britain Palm Oil Ltd company secretary Himson Waninara said.
But, he said, reports from the province showed there was hardly any evidence of this money being properly managed and used to improve living standards through small business developments.
Waninara said many people had taken their oil palm blocks for granted for many years and “have completely failed to realise them as a business and had extreme potential to generate benefits”.
Speaking during the National Development Bank meeting at the Sanremo Club conference room for more than 50 small businessmen and women in Kimbe, Waninara said oil palm itself was a very successful business opportunity and should be carefully treated and managed for its full benefits to be enjoyed.
He said the province was a good place to start a small business because of the strong economic growth experienced.
He said oil palm settlers and the indigenous people of the province must manage money better.
The meeting was for potential business people in the province to be informed that NDB was taking steps to ensure small business and projects are funded and people wanting to start a business were carefully assisted.
NDB managing director Richard Maru said there was a great need for landowners and the indigenous people of the province to take ownership of their land and to realise the benefits if they used their birth right well instead of depending on foreign companies and businesses to develop their land.
He said oil palm was one major business avenue and the bank was looking forward to supporting owners on a larger scale.
Maru said this was an opportunity for Integral landowner groups to develop oil palm blocks of more than 100ha.
He said the bank was prepared to fund such developments.
Provincial administrator, Steven Raphael said the provincial government recognised that small businesses formed the backbone of the province.