Development partners during the handover ceremony at Tabubil Womens’ Resource Centre.
Women and Childrens’ Association from the Six Mine villages in the Star Mountain signed a Memorandum of Understanding (MOU) to secure their investment on Friday 21 October in Tabubil.
The signing ceremony between Ok Tedi Mine Villages Women and Children’s Association (OKMVWCA) and Ok Tedi Development Foundation (OTDF) starts the lease of a Toyota Land Cruiser owned by the association’s registered investment company known as Ok Tedi Wanangman Aptil Investment Limited (OKWAIL). The Company was registered with the Investment Promotion Authority on 24th August 2021.
The revenue generated from this agreement goes into the investment account to support the association after mine closure.
OKMVWCA Vice President Mrs. Lulu Bill said this ceremony was her first to witness and credit goes to the hard work and support of the association members to the executives both past and present. She said: “This is the first time for the women of Star Mountains to have an investment business and also for me to experience such an occasion; I take this opportunity to thank you all.”
Company Director and chairlady for the Kavorabip village, Mrs. Christine Babona representing the company said: “We the women from the six mine villages, have watched over the years and we need to do more to help ourselves as mine closure approaches. Apart from this vehicle lease we will look into sustainable investment ventures to support the association after mine closure.”
Business Development support continues
OTDF Business Development (BD) Program team Leader Lesley Timothy told the association executives, members and directors that OTDF will meet all operational cost of the vehicle and pay full monthly payments to ensure profitability.
OTDF Executive Manager Program Services Mr. Eric Kuman commended the women of the mine villages for working closely with OTDF and the Business Development Team. He said this signing ceremony is a milestone and added: “Business is about sacrifice, you have to invest back in the business you created.
You have to have something to fall back on, this is an opportunity to invest, commit your resource and invest outside of the province, OTDF will continue to support you to do business, I am proud of you.”
Mr. Kuman said OTDF BD team will support the women entrepreneurs, with training and administrative assistance. “OTDF is determined to empower you for future success.”
He said so far the OTDF BD team manages nine investment companies with directorship by the women executives of the respective Associations from the CMCA. Now the six mine villages adds to the list of investment companies owned and operated by Women & Children’s Associations.