The Ramu NiCo’s Coastal Pipeline Women’s Association recently purchased the association’s fourth 20-foot, 40 horse powered dinghy that cost K37,000.00.
The purchase was made from their portion of royalty payment for 2021 which was invested for a loan with the Peoples Micro Bank in Madang.
Association Vice Chair Catherine Muniea is now encouraging other associations in the 4-project corridor to make profitable use of their yearly royalty payments.
The Coastal Pipeline Women’s Association is one, including Kurumbukari, Inland Pipeline and Basamuk of the Ramu Nickel and Cobalt Project for landowners.
“The idea to use our portion of the royalty to venture into the Small to Medium Enterprises (SME) was an initiative proposed to us by Ramu NiCo’s Community Affairs Department and the Peoples Micro Bank, for us to get loans based on our royalty portion,” said Muniea.
Muniea said the Coastal Pipeline Women’s Association consists of Marika Zone, Bugati Zone and Siroi Zone. So far Marika Zone has one dinghy, Bugati Zone has two dinghies and Siroi Zone now has one.
She said this investment should encourage other associations to invest their royalty payments also.
Siroi Zone Chair Melinda Itag said, the women’s association has seen fruitful outcomes from their investments.
“If Ramu NiCo was not established in Madang, giving us ideas and assisting us with important documents to get loan, we would not have no royalties, all these will not have been possible,” Ms. Itag said.
Ramu NiCo’s Community Affairs Officer Sakias Abaro said the company is proud to see the Coastal Pipeline Women’s Group, engage with financial institutions like the People’s Micro Bank to create wealth and improve livelihoods.
“So far the Coastal Pipeline Association have 4 dinghies and a truck,” Abaro said. “Right now, I want this to be an example for our women’s associations in Kurumbukari, the Inland Pipeline and Basamuk to see and also invest in such profitable activities that will benefit them in the future.”