Landowner firm takes ownership of entities

ARIKRO Investment Ltd, one of the landowner companies in Ramu NiCo’s Kurumbukari Mine in Bundi, has taken full ownership and management of its business entities.
Last Friday, Tamane Lodge managing director Edward Kiza who used to manage the Arikro Investment Ltd bus services operating between Enikuwai and the Ramu River Bridge transferred the management and ownership of the bus services to the Pagaizi clan.
Pagazi is one of the four major clans in the Ramu NiCo project special mining lease currently under mining exploration.
The Arikro Bus Service was established in 2014. The mines inspectorate under the Mineral Resources Authority told the Ramu NiCo KBK Mine management to ensure the safety of the villagers travelling to their villages and the main highway at Usino Junction.
Ramu NiCo gave the business opportunity to the Arini-Krongu sub clan of Pagaizi which registered the Arikro Investment Ltd to operate the bus service.
Kiza said the landowners had no money initially to start their business. So he assisted by providing two new buses.
Under the contract arrangement, Ramu NiCo paid a daily rate of K700 per bus.
He said he was an educated clan member and a businessman in Madang and felt obliged to support his clan members.
“We do not want to engage outsiders under joint venture arrangement because that demonstrates we are incapable.”