The National Superannuation Fund Limited (Nasfund) will be carrying out investment talks and promote superannuation awareness for the people of Bougainville over a period of time after the signing of a partnership agreement with the Autonomous Bougainville Government (ABG) to make it happen.
Under this three-year collaborative initiative, Nasfund and the ABG through its mandated commercial arm, the Bougainville Public Investment Corporation Limited (BPICL) will administer and drive all programs between the two parties.
Nasfund’s Chief Executive Officer (CEO), Rajeev Sharma said the Fund is committed to working closely with the ABG to identify and develop investment opportunities and to empower locals to be financially secure through superannuation savings.
‘’Nasfund recognizes the uncharted paths in Economic Development, Business, and Socio-economic impact inherent in the immense potential of Bougainville and its people.
We also recognize the need for collaboration and partnership and the effort required to leverage each other’s strengths to bring tangible and sustainable change that is good for the people of Bougainville and the members of Nasfund.
We are also pleased that through this partnership, BPICL will assist us to drive awareness on financial security and savings throughout the Autonomous Region as well as benefit locals in the region to participate in financial literacy training, and savings programs allowing those involved in small economic projects and SMEs to save for their tomorrow.’’
Vice President and Minister for Commerce, Trade and Economic Development in the ABG, Patrick Nisira in counter-signing the agreement, stated that Nasfund is an important strategic partner with the expertise and financial resources to invest in the strategic productive assets of the Region.
‘’The Toroama/Nisira Government will support this partnership between Nasfund and BPICL to grow the economy of Bougainville. We have opportunities in Property Investment, Hotels and Resorts, Infrastructure, Land development, and investment in Financial Services, apart from our minerals and agriculture.
We believe this MoU is the start of greater things to come for the people of Bougainville and Papua New Guinea.’’
Nisira said this agreement follows on from strategic partnerships with other institutions in the Insurance and Medical Service industries that were established earlier during the week.
In closing, CEO Sharma thanked him and reiterated that as a Fund, Nasfund remains committed to building the country’s economy as well as empowering its members throughout Papua New Guinea and Bougainville and this partnership agreement signifies their ongoing efforts in this space.
The Autonomous Region of Bougainville is the second after Morobe province to partner with Nasfund in this area.