Superfund helps fish farmers

By STELLA BITA
TWO hours out of Lae along the Markham Highway is Mutzing Station. At Mutzing station is a group of inland fish farmers who have taken the next step in saving for their future.
For the past three months, Nambawan Super Staff have been conducting training and awareness to promote its Choice Super product to more than 600 Inland Fish Farmers from the area.
The culmination of this awareness and training is the signing up of 611 new member application forms with initial deposits amounting to K21, 023.
The Inland Fish Farmers in Markham in Morobe are the first large group to have signed up for Nambawan Supers Choice Super product.
The farmers are from the Leron Wantoat Corporative Society affiliated to the Morobe provincial fisheries division.
Nambawan Super’s Acting Chief Executive Officer Vere Arava in welcoming the 611 fish farmers said it is pleasing to have the inland farmers group as the first lot of customers to do a mass sign up.
“Choice Super is an excellent product which, if utilised to its maximum would surely help fisherman build up funds and save for a better life in retirement. We are currently focusing on having small to medium enterprise businesses and individuals to contribute to Nambawan Super through Choice Super.
“This product was designed to facilitate for individuals or anyone in the informal and formal sector earning any form of income and not contributing to any approved Superannuation Fund in PNG.”
“We would like to encourage more individuals to adopt the culture of saving and use this product as a means of saving money. The savings accumulated in Choice Super will provide financial security for them in the long run,” said Arava.
The growing interest in the Choice Super product comes after Nambawan Super Limited and the Office of Coastal Fisheries Development Agency (OCFDA) got together to address the issue of long term financial literacy and education for fish farmers and coastal fisherman in the 14 maritime provinces throughout PNG.
In March 2016 Nambawan Super Limited and OCFDA formalised an agreement to provide awareness and training on how to utilise the Choice Super Product, identify document recommend and link or provide personal data on registered or unregistered Corporative Fishing groups, provide aid material for financial education and provide and share data on the total number of fisherman actively contributing to Choice Super. Under the partnership, the fishermen on the OCFDA database are encouraged to join Nambawan Super’s Choice Super so they can save for their long term benefits.
OCFDA is currently implementing value added projects in the 14 Maritime Provinces to provide a pathway for proper and better fish handling facilities for fisherman and their catches. Nambawan Super will be involved to help implement the savings culture through to their members and their families.
To date, Nambawan Super and the Office of Coastal Fisheries Development Agency have jointly conducted workshops in Lae, Kokopo, Kimbe and Alotau.
The efforts of inland fishermen of Markham District have also been recognised by Markham MP, Paul Ezekiel who has made a commitment of K20,000 to the fishermen. The members’ Executive Officer Tom Saking says payments will be made next week.
Markham District Agriculture and Livestock Manager, Dakia Wokio and his staff are encouraging other commodity growers and farmers to take this opportunity and save for their long term financial needs through Choice Super.
Choice Super is a product developed to facilitate Voluntary Superannuation Services targeting the informal sector market with a minimum regular contribution of K20 on a fortnightly or monthly basis. Members are also encouraged to do lump sum deposits for the rapid growth of their savings.
Choice Super members also enjoy the services and benefits that are accorded to compulsory Nambawan Super members. These services and benefits include Housing Advance Scheme; Nambawan Loyalty Discount and Nambawan Savings & Loans.