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RNZ News
22-07-2025
- Politics
- RNZ News
Veteran Bougainville politician wants new approach to independence and development
Joe Lera (file image) Photo: Bougainville Care Foundation A longtime Bougainville politician, Joe Lera, wants to see widespread changes in the way the Autonomous Bougainville Government (ABG) is run. The Papua New Guinea region, which is seeking independence from Port Moresby, is holding elections in the first week of September. Seven candidates are running for president, including Lera. He held the regional seat in the PNG national parliament for ten years before resigning to contest the presidency in the 2020 election. This time around, Lera is campaigning on what he sees as faults in the approach of the Ishmael Toroama administration and told RNZ Pacific he is offering a different tack. (This transcript has been edited for brevity and clarity.) Joe Lera: This time, people have seen that the current government is the most corrupt. They have addressed only one side of independence, which is the political side, the other two sides, They have not done it very well. Don Wiseman: What do we mean by that? We can't bandy around words like corruption. What do you mean by corruption? JL: What they have done is huge. They are putting public funds into personal members' accounts, like the constituency grant - 360,000 kina a year. DW: As someone who has operated in the national parliament, you know that that is done there as well. So it's not corrupt necessarily, is it? JL: Well, when they go into their personal account, they use it for their own family goods, and that development, it should be development funds. The people are not seeing the tangible outcomes in the number two side, which is the development side. All the roads are bad. The hospitals are now running out of drugs. Doctors are checking the patients, sending them to pharmaceutical shops to buy the medicine, because the hospitals have run out. DW: These are problems that are affecting the entire country, aren't they, and there's a shortage of money. So how would you solve it? What would you do differently? JL: We will try to make big changes in addressing sustainable development, in agriculture, fishing, forestry, so we can create jobs for the small people. Instead of talking about big, billion dollar mining projects, which will take a long time, we should start with what we already have, and develop and create opportunities for the people to be engaged in nation building through sustainable development first, then we progress into the higher billion dollar projects. Now we are going talking about mining when the people don't have opportunity and they are getting poorer and poorer. That's one area, the other area, to create change we will try to fix the government structure, from ABG to community governments to village assemblies, down to the chiefs. At the moment, the policies they have have fragmented the conduit of getting the services from the top government down to to the village people. DW: Okay, in the past, you've spoken out against the push for independence, suggesting I think, that Bougainville is not ready yet, and it should take its time. Where do you stand at the moment on the independence question? JL: The independence question? We are all for it. I'm not against it, but I'm against the process. How they are going about it. I think the answer has been already given in the Bougainville Peace Agreement, which is a joint creation between the PNG and ABG government, and the process is very clear. Now, what the current government is doing is they are going outside of the Peace Agreement, and they are trying to shortcut based on the [referendum] result. But the Peace Agreement doe not say independence will be given to us based on the result. What it says is, after we know the result, the two governments must continue to dialogue, consult each other and find ways of how to improve the economy, the law and order issues, the development issues. When we fix those, the nation building pillars, we can then apply for the ratification to take place. DW: All right, so you're talking about something that would be quite a way further down the line than what this current government is talking about? JL: The issue is timing. They are putting deadlines themselves, and they are trying to push the PNG government to swallow it. PNG government is a sovereign nation already. We should respect and honestly, in a family room situation, negotiate, talk with them, as the Peace Agreement says, and reach understanding on the timing and other related issues, but not to even take a confrontational approach, which is what they are doing now, but take a family room approach, where we sit and negotiate in the spirit of the Peace Agreement.
RNZ News
13-07-2025
- Politics
- RNZ News
Amanda Masono eyes Atolls seat in Bougainville's election
Amanda Masono Photo: Facebook / Amanda Masono The Bougainville elections, which happen once every five years, are underway. The [ writs were issued last week, candidate nominations have now finished, and campaigning will be getting underway for voting over the first week of September. It will be an interesting poll for Amanda Masono, who came into parliament in 2020, winning one of the three seats reserved for women, North Bougainville. But this time around she is contesting the Atolls seat, campaigning alongside men, in a seat that her late father once held. RNZ spoke to Masono and began by asking how the previous five years had gone for her. (This transcript has been edited for brevity and clarity.) AMANDA MASONO: I think, yes, there's been some challenges, but more of them, which is, getting to know the people and trying to deliver to their expectations. Overall, generally try to support my government in ensuring that we prepare for independence for Bougainville. So yes, I've decided to recontest this election to get in for a 2025 to 2030 government. DON WISEMAN: When you say you've got your sights set on independence for Bougainville, what do you think you have achieved in the past five years, down that road? AM: Personally, I've been involved with negotiations between the national government and ABG (Autonomous Bougainville Government) in terms of the consultations after the referendum has been conducted. And now with the moderation talks with the PNG government, I've been personally involved with that team. For me, it's being in the process and getting to contribute to ensuring that Bougainville gets its independence. On the ground, internally, as member for North Bougainville, we've worked really hard in terms of implementing the independent strategy motion that was passed by our House when we came into parliament. We, as North Bougainville women, I went on to support our community governments and North Bougainville women to develop a strategic plan, which we recently launched. It's called North Bougainville Women and North Bougainville Community Government Strategic Plan 2025 to 2030, where it is a blueprint that guides all community governments to make sure that they are assisted in mobilising resources to continue developing their community governments as we prepare for independence. DW: Let's say we're talking in five years. Where do you think Bougainville will be by 2030. where would you like Bougainville to be by 2030? AM: I believe I'd like to see Bougainville independent by then and exercising some of the sovereign powers and functions that are still with PNG, particularly in terms of the fisheries, because under the Bougainville Peace Agreement there is this arrangement for the benefits from the fisheries to be shared. But Bougainville has not really received what is supposed to be given to it. Read more: I'll say that this election is very critical to ensuring we have a government that is elected to make sure it realises the independence for Bougainville because how we're going, the leaders on the ground have already made a bold statement that by 1 September 2027, we should be independent. So everyone is working towards that, and I believe by 2030 we should already be exercising some of those powers and functions to enable us to really contribute meaningfully and head to independence. DW: Yes, but to a large extent, it's not Bougainville's decision, is it? These plans could be stymied by Port Moresby. AM: Yes, yes, that's That's right, but Bougainville gan really is also working on its independent constitution. It's already established the Bougainville Constituent Assembly to, you know, debate its constitution, and from what we've passed last house, our preparation should not be - what should I say? When we established the Bougainville Constituent Assembly, there was this work done to ensure that, like while we are working, we also organised that, you know, ratification will come from PNG government. But with that unnecessary delay from the other side, our leaders are pretty determined on ensuring that we prepare ourselves internally, and whether the results are ratified or not, it is not PNG's decision to make, as long as we are prepared for that internally. For me, that's what I'd like to say about the ratification process. DW: You have been holding one of the three seats reserved for women, but you're not going to be doing that in this coming election. You're throwing your hat in one of the open seats. It's a fairly fraught thing, isn't it? So how do you think you'll go? AM: For Bougainville, in the current House, there's two women who came from the single constituencies. For us, I came into the reserve seat, so this time, I intend to contest the Atolls seat. I know it will be a bit challenging for me because it's not as straightforward as a woman's reserve seat I will have. I am going up against - most of them are male candidates - but I believe that at such a time as this, I am more than capable to be that voice, that adults' conscience, it needs right now.
RNZ News
07-07-2025
- Politics
- RNZ News
Bougainville election process begins as writs issued
ABG House Speaker Simon Pentanu will be issuing the writs for the fifth general elections on Monday 7 July. 5 February 2025 Photo: Autonomous Bougainville Government The Bougainville election process begins today with the issuance of the writs on Monday. Nominations open Tuesday, 8 July and close on Thursday, 10 July. Voting is scheduled for one week starting on 2 September , allowing seven weeks of campaigning. Candidates will be vying for 46 seats in total, with the autonomous parliament agreeing earlier this year to add five additional seats. The seats were created with the establishment of five new constituencies: two in South and Central, and one in North Bougainville. "This is one of the most important democratic tasks of any nation - to conduct elections where the people exercise the ultimate power to re-elect or de-elect the representatives who have served them in the last House," Bougainville parliament Speaker Simon Pentanu said. "The elections in Bougainville have always been fair, honest, transparent, and equitable. This is a history we should all be proud of and a record we must continue to uphold," he said. The region's electoral commissioner Desmond Tsianai said the issuing of writs was a significant event in the electoral calendar. "We have delivered credible elections in the past and I assure you all that we are prepared, and we will have this election delivered at international standards of free, fair and inclusive - and most importantly, according to the law."
Yahoo
02-07-2025
- Business
- Yahoo
Undiscovered European Gems With Strong Fundamentals July 2025
As European markets show signs of resilience, with the STOXX Europe 600 Index climbing 1.32% amidst easing trade tensions and potential economic stimulus from Germany, investors are increasingly turning their attention to small-cap stocks that may not yet be on the radar. In this environment, identifying companies with robust fundamentals—such as strong balance sheets and sustainable growth prospects—can provide valuable opportunities for those looking to navigate the complexities of today's market landscape. Name Debt To Equity Revenue Growth Earnings Growth Health Rating AB Traction NA 5.39% 5.24% ★★★★★★ Caisse Régionale de Crédit Agricole Mutuel Brie Picardie Société coopérative 26.90% 4.14% 7.22% ★★★★★★ Martifer SGPS 102.88% -0.23% 7.16% ★★★★★★ La Forestière Equatoriale NA -65.30% 37.55% ★★★★★★ ABG Sundal Collier Holding 8.55% -4.14% -12.38% ★★★★★☆ Evergent Investments 5.39% 9.41% 21.17% ★★★★☆☆ Darwin 3.03% 84.88% 5.63% ★★★★☆☆ Practic 5.21% 4.49% 7.23% ★★★★☆☆ Inversiones Doalca SOCIMI 15.57% 6.53% 7.16% ★★★★☆☆ MCH Group 124.09% 12.40% 43.58% ★★★★☆☆ Click here to see the full list of 326 stocks from our European Undiscovered Gems With Strong Fundamentals screener. Here we highlight a subset of our preferred stocks from the screener. Simply Wall St Value Rating: ★★★★☆☆ Overview: Caisse Régionale de Crédit Agricole Mutuel Loire Haute-Loire Société coopérative offers a range of banking products and services to diverse customer segments in France, with a market capitalization of approximately €579.37 million. Operations: CRLO generates revenue primarily from local banking in France (€234.80 million) and leasing activities (€151.14 million), with a smaller contribution from land-related operations (€1.13 million). With total assets of €15.2B and equity at €2.8B, Crédit Agricole Loire Haute-Loire stands out with its earnings growth of 14.9% over the past year, surpassing the industry average of 3.2%. The bank's liabilities are primarily low-risk customer deposits, making up 95% of its funding sources. However, it faces a challenge with a high level of bad loans at 3.2%, despite having a low allowance for these loans (82%). Trading at 29.1% below estimated fair value suggests potential upside if risks are managed effectively in this burgeoning financial landscape. Delve into the full analysis health report here for a deeper understanding of Caisse Régionale de Crédit Agricole Mutuel Loire Haute-Loire Société coopérative. Gain insights into Caisse Régionale de Crédit Agricole Mutuel Loire Haute-Loire Société coopérative's past trends and performance with our Past report. Simply Wall St Value Rating: ★★★★★☆ Overview: Olvi Oyj is a beverage company that manufactures and sells alcoholic and non-alcoholic beverages across Finland, Estonia, Latvia, Lithuania, Denmark, and Belarus with a market cap of €700.73 million. Operations: Olvi Oyj generates revenue primarily from its alcoholic beverages segment, which accounts for €659.34 million. The company's financial performance is highlighted by a notable net profit margin trend, reflecting efficiency in managing costs relative to its revenue streams. Olvi, a Finnish beverage company, has shown impressive earnings growth of 14.8% over the past year, outpacing the broader beverage industry's 0.7%. The firm is trading at an attractive value, estimated to be 73.6% below its fair value compared to peers and industry standards. While Olvi's debt-to-equity ratio rose from 4.8% to 7.1% in five years, it remains financially robust with more cash than total debt and positive free cash flow of €48.51 million as of September 2024. Additionally, recent board changes include Nora Hortling as Chair and Lasse Heinonen as Vice Chair, enhancing governance dynamics. Get an in-depth perspective on Olvi Oyj's performance by reading our health report here. Learn about Olvi Oyj's historical performance. Simply Wall St Value Rating: ★★★★☆☆ Overview: Norion Bank AB (publ) offers financial solutions to medium-sized corporates, real estate companies, merchants, and private individuals across Sweden, Germany, Norway, Denmark, Finland, and internationally with a market cap of SEK10.45 billion. Operations: Norion Bank's primary revenue streams are derived from real estate (SEK1.22 billion), consumer (SEK930 million), corporate (SEK827 million), and payments (SEK501 million) segments. Norion Bank, with total assets of SEK67.6B and equity of SEK9.5B, operates primarily on low-risk funding from customer deposits, which make up 93% of its liabilities. Despite a high level of bad loans at 21.2%, the bank's earnings grew by 7.2% over the past year, surpassing the industry average decline of -1.5%. Trading at a substantial discount to its estimated fair value by 70.1%, Norion offers good relative value compared to peers in the industry while maintaining high-quality earnings despite challenges such as a low allowance for bad loans at only 49%. Click here and access our complete health analysis report to understand the dynamics of Norion Bank. Gain insights into Norion Bank's historical performance by reviewing our past performance report. Get an in-depth perspective on all 326 European Undiscovered Gems With Strong Fundamentals by using our screener here. Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up. Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ENXTPA:CRLO HLSE:OLVAS and OM:NORION. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
RNZ News
26-06-2025
- Business
- RNZ News
Bougainville finally gets all Rio shares in Bougainville Copper
An aerial view of the abandoned Panguna mine pit. Photo: OCCRP / Aubrey Belford The Papua New Guinea government has announced it is going ahead with a handover of shares in Bougainville Copper Ltd to the Autonomous Bougainville Government (ABG). The former owner, Rio Tinto, let go of the shares nine years ago, with just over a third going to each government, and the remainder to the local landowners. Read more: PNG had long promised to give its portion of the shares to the people of Bougainville. Now, as per an agreement made five years ago, the shares will go to the ABG, giving it a shareholding of 73 percent. Bougainville's government wants to re-open the controversial mine at Panguna, which had been run by Rio Tinto through its Bougainville Copper subsidiary until its shut down by the civil war in 1989. The region's leaders see the mine as the fastest way to develop an economy on which Bougainville can build its independence. But overshadowing this somewhat is a call for Rio Tinto to mitigate the environmental and social damage generated by the mine before that shut down.
