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Scoop
6 days ago
- Health
- Scoop
East Sepik Province in PNG gets innovative to solve health issues
, RNZ Pacific Senior Journalist The governor of East Sepik Province in Papua New Guinea has announced a partnership with a local pharmacy to improve access to drugs and medicines. A deal between City Pharmacy Limited, the Provincial Health Authority, and the Provincial Government aims to ensure that Sepik residents have fast access to quality medicines, free of charge. The provincial government is making a payment of PGK 500,000 (about US$118,000) from the Provincial Services Improvement Program (PSIP) to the pharmacy company. The company has outlets in Wewak and Maprik, with others planned in Angoram and Boram Hospital. RNZ Pacific asked the East Sepik Allan Bird if half a million kina would be enough. (This transcript has been edited for brevity and clarity.) ALLAN BIRD: No it won't. We've got three million in the budget for that. We're just starting off with half a million because, like everything that's new, no one's ever tried this in Papua New Guinea before. But I'm sick and tired of waiting for a corrupt, incompetent national government to respond, because I cop all the flack when there's no medicine in East Sepik, even though it's not my job. So, I've decided to bite the bullet, and fortunately, there's a local company that's honest and transparent. It's not one of these 'fly by night' companies that sort of do deals in dark corners, and there's massive kickbacks. City Pharmacy Limited has been operating in Papua New Guinea for, I don't know, maybe 30 or 40 years. It's owned by our Super Fund. Essentially, the Papua New Guinean workers own a majority of the shares there. So that gives me the confidence to work with them. Of course, that they've had two pharmacies in my province operating, you know, almost 200 kilometers apart in my province. There's reach there. When we run out of medicine at the hospital, people come running to me, or they run to another member of parliament asking for us to help them pay for medicine, that's one, they can't find us, then the poor doctor or the nurse or some other medical worker who's already struggling to look after their own family has to fork the money out of their own pocket. This system that we're using has been used by City Pharmacy Limited for, I think, a number of years, with the medical insurers in the country. I'm just really pleased that they're happy to try it out with us. We're running a trial, and then every month, we get a report and we have a look and see how it's working. Because the last thing you need is it's hard enough accessing medical services, not just in my province, but in the whole country. But once people get to the end of the line and they get diagnosed, and the clinician turns around and says, 'Look, sorry, we got no medicine. Here's the prescription. Can you go buy it?' This person's been waiting, traveling, waiting, all of that is probably 24 hours, 36 hours just to get that far and be told, Look, you got to go buy your own medicine. And so given that sort of scenario I want to be able to sleep well at night knowing that my people are being looked after. If the system works out, and the whole country wants to adopt it. I've been critical of the medical suppliers in Papua New Guinea since the day I walked into parliament. It's one of the biggest rorts in this country, and it continues to be so. DON WISEMAN: It's not your only concern about the health sector in East Sepik, is it? You've been at the [Boram] Hospital recently and you weren't impressed? AB: I knew for a while. I knew, like a year and a half ago, that because the rest of the health system - we're rebuilding the entire health system in my province. So let me just start by saying that. But I didn't know that we had makeshift facilities because all the other facilities around the province are not functioning, and this specialist hospital, which, when we first designed it, we didn't design it with what you might call an outpatient facility, because it's not meant to have one. But in the absence of functioning medical facilities around the province, we've got no choice. We got to bite the bullet. So I allocated the money sometime last year, about 18 months ago. I hate these government systems that take so long. And I was quite crook on Monday morning as well Sunday and at 2am in the morning I had to go to the hospital. And I think maybe God wanted me to be sick so I could see all of this. So when I saw it, it broke my heart. I mean, these are the people I represent. So I've said to them, Look, you guys, have 60 days to rectify this. The money is there. I want this facility built, you know, I don't want to come here and see the same thing happening again. So we've got really crazy systems, you know what I mean? And they're so cumbersome, you know, it just doesn't help us. But I've said to them, 'Look, I respect the processes, but can we push it a little bit faster? Because 18 months is simply unacceptable.' Now you've got people lying around in the corridor, out in the open with an IV in their arm, sleeping on the floor. That would be unacceptable anywhere else in the world. It should also be unacceptable here.
Scoop
22-05-2025
- Business
- Scoop
A Road Reopened, A Future Unlocked: EU-STREIT PNG Programme Delivers For Rural Sepik, Papua New Guinea
Press Release – EU STREIT PNG The International Labour Organization (ILO) under the EU-STREIT PNG Programme, helped fix the 16.7 km road between Rawo and Leitre villages. The work includes filling embankments, laying gravel, building 22 relief culverts, two slab culverts, and two … In Papua New Guinea's West Sepik, the EU-STREIT PNG Programme transformed lives by rehabilitating a 16.7 km road, reconnecting 12,000 rural villagers to markets and services. This climate-resilient infrastructure slashed transport costs, revived cocoa farming, and created jobs, empowering communities and fostering sustainable economic growth. A Decade of Isolation For nearly 10 years, over 12,000 people in five coastal villages in Papua New Guinea's West Sepik Province had no proper road. The only way to reach the provincial capital, Vanimo, was by boat. This was risky, especially during rough seas, and very costly for families trying to sell their goods or visit essential services. This situation was particularly challenging when villagers needed urgent medical attention, as transporting sick individuals by boat was difficult and often dangerous. Paving the Way: The EU-STREIT Intervention In June 2024, everything began to change. The International Labour Organization (ILO) under the EU-STREIT PNG Programme, helped fix the 16.7 km road between Rawo and Leitre villages. The work includes filling embankments, laying gravel, building 22 relief culverts, two slab culverts, and two box bridges. These features were carefully designed to ensure year-round, climate-resilient accessibility—even in harsh weather conditions. Now, cars, buses, and motorcycles can safely travel the road at any time of day or night. Reconnecting Communities, Easing Burdens The road now connects Rawo and Leitre with three other nearby villages in the Bewani-Wutung-Onei LLG of Vanimo-Green District to the main road leading to the Provincial capital. This has reopened access to markets and services, making life easier for many and enabling local agribusinesses to thrive. Father Joseph Runnai from the Catholic Mission Station in Leitre village says, 'This road is a very big plus for the rural community here and we're very pleased indeed. Though we have boats, it was risky at times during rough seas and also expensive compared to Public Motor Vehicle (PMV) fares.' Economic Revival: A Boost for Local Farmers Previously, cocoa farmers faced steep costs—PGK 50 for passenger fare and another PGK 50 per 63kg cocoa bag—to reach Vanimo by boat. Now, they pay only PGK 20 for both passenger fare and freight on PMV, saving PGK 60 per trip. Moreover, boat travel was limited to mornings due to afternoon sea conditions. If villagers stayed until early afternoon, around 2 or 3 PM, they had no choice but to find overnight accommodation in town, adding extra expense, inconvenience, and difficulty to their trips. The restored road has not only reduced transportation costs but also reignited interest in cocoa farming. Farmers, previously discouraged by logistical challenges, are returning to cocoa cultivation. This resurgence is supported by the EU-STREIT PNG Programme. The Programme provides pest-tolerant seedlings, tools, and materials, along with training in sustainable farming and business management. Additionally, the Programme has facilitated the upgrading of fermentary units, including meeting requirements for certification by Cocoa Board of PNG, and introduced renewable energy solutions to enhance processing efficiency. Sweet Success: Community and Cocoa Thriving Cocoa farmer and fermentary operator Mr. Penuel Amele shared, 'Every day we see excited women and children carrying their wet cocoa beans in small bags and smiling to the fermentary to sell. This is something we didn't see in the community for years.' He added that interest has picked up among youths to distribute and plant Cocoa Pod Borer (CPB) tolerant seedlings from their nurseries. Unlike before, there is an increase in cash flow with thousands of Kina being circulated in the community, and this will increase. They are planning for a storage house, with support from the EU-STREIT PNG Programme, because production is picking up. The fermentary, recently upgraded with support from the EU-STREIT PNG Programme, has already produced 467 kg of dried beans – within a month cycle – and earned PGK 6,424. Operated by 103 cocoa farmers under Saint Mary's Cocoa Growers Group, the fermentary reinvests profits to purchase more wet beans from local farmers, paying PGK 4/kg, with plans to increase to PGK 5/kg to further motivate cocoa cultivation. Expanding Horizons: Benefits for Vanilla and Fisheries Beyond cocoa, the rehabilitated road benefits 81 vanilla farmers and 350 fishers in the community. Vanilla farmer Desmond Sinene says, 'I'm very happy that I can travel easily into Vanimo town which is cheaper to find buyers for my beans.' He used the road to reach Batas Market at the PNG-Indonesia border and sold 6 kg of beans for PGK 800. Empowering Women and Enhancing Mobility Women, too, are experiencing newfound opportunities. Regina Naro, a mother trained and supported by the Programme, noted, 'I'm happy that the road has come to our village. We the mothers can travel easily by road anytime of the day into town markets. Now I'm waiting for a PMV to travel to Vanimo to sell some sago and greens in town.' The improved infrastructure has also facilitated the adoption of motorcycles, a popular mode of transport in the area. Jalwin Barbare, who recently acquired a motorcycle, stated, 'Without this road, I would not buy this motorcycle,' after using it to take a relative to a farm. In Leitre Village alone, more than 10 motorcycles can now be seen parked under houses. Creating Opportunities: Employment and Social Inclusion The road project also created decent employment opportunities. Six locals, including two women, were engaged as rural road maintenance group members for routine maintenance works of the road and earn PGK 700 each month. One of them is 27-year-old Raynatalyn Simewa, a young mother with hearing impairment. Her mother, Rachel, helps her communicate. This is her first job, and it gives her pride and purpose. She uses the money to buy clothes for herself and her child and saves for school fees. Once seen as insignificant, Raynatalyn is now a valued contributor to her family and community. Her story reflects the Programme's strong focus on social inclusion, empowering differently-abled persons and ensuring no one is left behind. Strengthening Essential Public Services Public services have seen improvements, too. The road makes it easier for teachers and health workers to execute their duties. Fr. Joseph explains, 'Our teachers utilize this road any time of the day to check for their needs and also to do their shopping in town. Basic medication supply for the sub-health centre are now delivered by road as well as building materials for our new staff house which was recently constructed in the mission station.' The Power of Partnership and a Brighter Future These developments are the result of robust partnerships. The EU-STREIT PNG Programme, led by the Food and Agriculture Organization (FAO) and implemented jointly with ILO, other involved UN agencies in close collaboration with government partners, demonstrates how collaborative efforts can drive rural development. By combining institutional knowledge, technical assistance, and community engagement, the Programme has constructed more than infrastructure—it has built a pathway to opportunity. The villagers are excited about the future. They now feel more connected and hopeful. With better access to markets, services, and income, the road is helping their community grow. As Penuel puts it, 'All we wanted was a road and we can now take off from here.' A Global Gateway Strategy Realized Locally This transformative impact aligns with a broader initiative. The support to sustainable infrastructure under the EU-STREIT PNG Programme represents the first articulation of the EU Global Gateway Strategy's rollout in Papua New Guinea. By advancing sustainable infrastructure, digital access, and renewable energy in rural areas, the Programme reduces transaction costs and boosts productivity, connecting local agribusinesses to global markets through 'smart, clean, and secure' solutions—making the EU's global vision a tangible reality on the ground. About the EU-STREIT PNG Programme The EU-STREIT PNG Programme, is the European Union's largest grant-funded initiative in the country being implemented as a United Nations Joint Programme by FAO, ILO, ITU, UNCDF and UNDP. It focuses on boosting sustainable and inclusive economic development in rural areas. This is achieved by FAO's support in enhancing economic returns and opportunities within cocoa, vanilla, and fisheries value chains. Additionally, the Programme strengthens and improves the efficiency of value chain enablers, including access to Information & Communication Technology (ICT) by the International Telecommunication Union (ITU) and digital financial services by UNCDF. ILO also supports the development of sustainable, climate-resilient roads and other transport infrastructures while UNDP provides renewable energy solutions. The Programme directly benefits two provinces: East Sepik and West Sepik.
Scoop
22-05-2025
- Business
- Scoop
A Road Reopened, A Future Unlocked: EU-STREIT PNG Programme Delivers For Rural Sepik, Papua New Guinea
Press Release – EU STREIT PNG The International Labour Organization (ILO) under the EU-STREIT PNG Programme, helped fix the 16.7 km road between Rawo and Leitre villages. The work includes filling embankments, laying gravel, building 22 relief culverts, two slab culverts, and two … In Papua New Guinea's West Sepik, the EU-STREIT PNG Programme transformed lives by rehabilitating a 16.7 km road, reconnecting 12,000 rural villagers to markets and services. This climate-resilient infrastructure slashed transport costs, revived cocoa farming, and created jobs, empowering communities and fostering sustainable economic growth. A Decade of Isolation For nearly 10 years, over 12,000 people in five coastal villages in Papua New Guinea's West Sepik Province had no proper road. The only way to reach the provincial capital, Vanimo, was by boat. This was risky, especially during rough seas, and very costly for families trying to sell their goods or visit essential services. This situation was particularly challenging when villagers needed urgent medical attention, as transporting sick individuals by boat was difficult and often dangerous. Paving the Way: The EU-STREIT Intervention In June 2024, everything began to change. The International Labour Organization (ILO) under the EU-STREIT PNG Programme, helped fix the 16.7 km road between Rawo and Leitre villages. The work includes filling embankments, laying gravel, building 22 relief culverts, two slab culverts, and two box bridges. These features were carefully designed to ensure year-round, climate-resilient accessibility—even in harsh weather conditions. Now, cars, buses, and motorcycles can safely travel the road at any time of day or night. Reconnecting Communities, Easing Burdens The road now connects Rawo and Leitre with three other nearby villages in the Bewani-Wutung-Onei LLG of Vanimo-Green District to the main road leading to the Provincial capital. This has reopened access to markets and services, making life easier for many and enabling local agribusinesses to thrive. Father Joseph Runnai from the Catholic Mission Station in Leitre village says, 'This road is a very big plus for the rural community here and we're very pleased indeed. Though we have boats, it was risky at times during rough seas and also expensive compared to Public Motor Vehicle (PMV) fares.' Economic Revival: A Boost for Local Farmers Previously, cocoa farmers faced steep costs—PGK 50 for passenger fare and another PGK 50 per 63kg cocoa bag—to reach Vanimo by boat. Now, they pay only PGK 20 for both passenger fare and freight on PMV, saving PGK 60 per trip. Moreover, boat travel was limited to mornings due to afternoon sea conditions. If villagers stayed until early afternoon, around 2 or 3 PM, they had no choice but to find overnight accommodation in town, adding extra expense, inconvenience, and difficulty to their trips. The restored road has not only reduced transportation costs but also reignited interest in cocoa farming. Farmers, previously discouraged by logistical challenges, are returning to cocoa cultivation. This resurgence is supported by the EU-STREIT PNG Programme. The Programme provides pest-tolerant seedlings, tools, and materials, along with training in sustainable farming and business management. Additionally, the Programme has facilitated the upgrading of fermentary units, including meeting requirements for certification by Cocoa Board of PNG, and introduced renewable energy solutions to enhance processing efficiency. Sweet Success: Community and Cocoa Thriving Cocoa farmer and fermentary operator Mr. Penuel Amele shared, 'Every day we see excited women and children carrying their wet cocoa beans in small bags and smiling to the fermentary to sell. This is something we didn't see in the community for years.' He added that interest has picked up among youths to distribute and plant Cocoa Pod Borer (CPB) tolerant seedlings from their nurseries. Unlike before, there is an increase in cash flow with thousands of Kina being circulated in the community, and this will increase. They are planning for a storage house, with support from the EU-STREIT PNG Programme, because production is picking up. The fermentary, recently upgraded with support from the EU-STREIT PNG Programme, has already produced 467 kg of dried beans – within a month cycle – and earned PGK 6,424. Operated by 103 cocoa farmers under Saint Mary's Cocoa Growers Group, the fermentary reinvests profits to purchase more wet beans from local farmers, paying PGK 4/kg, with plans to increase to PGK 5/kg to further motivate cocoa cultivation. Expanding Horizons: Benefits for Vanilla and Fisheries Beyond cocoa, the rehabilitated road benefits 81 vanilla farmers and 350 fishers in the community. Vanilla farmer Desmond Sinene says, 'I'm very happy that I can travel easily into Vanimo town which is cheaper to find buyers for my beans.' He used the road to reach Batas Market at the PNG-Indonesia border and sold 6 kg of beans for PGK 800. Empowering Women and Enhancing Mobility Women, too, are experiencing newfound opportunities. Regina Naro, a mother trained and supported by the Programme, noted, 'I'm happy that the road has come to our village. We the mothers can travel easily by road anytime of the day into town markets. Now I'm waiting for a PMV to travel to Vanimo to sell some sago and greens in town.' The improved infrastructure has also facilitated the adoption of motorcycles, a popular mode of transport in the area. Jalwin Barbare, who recently acquired a motorcycle, stated, 'Without this road, I would not buy this motorcycle,' after using it to take a relative to a farm. In Leitre Village alone, more than 10 motorcycles can now be seen parked under houses. Creating Opportunities: Employment and Social Inclusion The road project also created decent employment opportunities. Six locals, including two women, were engaged as rural road maintenance group members for routine maintenance works of the road and earn PGK 700 each month. One of them is 27-year-old Raynatalyn Simewa, a young mother with hearing impairment. Her mother, Rachel, helps her communicate. This is her first job, and it gives her pride and purpose. She uses the money to buy clothes for herself and her child and saves for school fees. Once seen as insignificant, Raynatalyn is now a valued contributor to her family and community. Her story reflects the Programme's strong focus on social inclusion, empowering differently-abled persons and ensuring no one is left behind. Strengthening Essential Public Services Public services have seen improvements, too. The road makes it easier for teachers and health workers to execute their duties. Fr. Joseph explains, 'Our teachers utilize this road any time of the day to check for their needs and also to do their shopping in town. Basic medication supply for the sub-health centre are now delivered by road as well as building materials for our new staff house which was recently constructed in the mission station.' The Power of Partnership and a Brighter Future These developments are the result of robust partnerships. The EU-STREIT PNG Programme, led by the Food and Agriculture Organization (FAO) and implemented jointly with ILO, other involved UN agencies in close collaboration with government partners, demonstrates how collaborative efforts can drive rural development. By combining institutional knowledge, technical assistance, and community engagement, the Programme has constructed more than infrastructure—it has built a pathway to opportunity. The villagers are excited about the future. They now feel more connected and hopeful. With better access to markets, services, and income, the road is helping their community grow. As Penuel puts it, 'All we wanted was a road and we can now take off from here.' A Global Gateway Strategy Realized Locally This transformative impact aligns with a broader initiative. The support to sustainable infrastructure under the EU-STREIT PNG Programme represents the first articulation of the EU Global Gateway Strategy's rollout in Papua New Guinea. By advancing sustainable infrastructure, digital access, and renewable energy in rural areas, the Programme reduces transaction costs and boosts productivity, connecting local agribusinesses to global markets through 'smart, clean, and secure' solutions—making the EU's global vision a tangible reality on the ground. About the EU-STREIT PNG Programme The EU-STREIT PNG Programme, is the European Union's largest grant-funded initiative in the country being implemented as a United Nations Joint Programme by FAO, ILO, ITU, UNCDF and UNDP. It focuses on boosting sustainable and inclusive economic development in rural areas. This is achieved by FAO's support in enhancing economic returns and opportunities within cocoa, vanilla, and fisheries value chains. Additionally, the Programme strengthens and improves the efficiency of value chain enablers, including access to Information & Communication Technology (ICT) by the International Telecommunication Union (ITU) and digital financial services by UNCDF. ILO also supports the development of sustainable, climate-resilient roads and other transport infrastructures while UNDP provides renewable energy solutions. The Programme directly benefits two provinces: East Sepik and West Sepik.
Scoop
22-05-2025
- Business
- Scoop
A Road Reopened, A Future Unlocked: EU-STREIT PNG Programme Delivers For Rural Sepik, Papua New Guinea
In Papua New Guinea's West Sepik, the EU-STREIT PNG Programme transformed lives by rehabilitating a 16.7 km road, reconnecting 12,000 rural villagers to markets and services. This climate-resilient infrastructure slashed transport costs, revived cocoa farming, and created jobs, empowering communities and fostering sustainable economic growth. A Decade of Isolation For nearly 10 years, over 12,000 people in five coastal villages in Papua New Guinea's West Sepik Province had no proper road. The only way to reach the provincial capital, Vanimo, was by boat. This was risky, especially during rough seas, and very costly for families trying to sell their goods or visit essential services. This situation was particularly challenging when villagers needed urgent medical attention, as transporting sick individuals by boat was difficult and often dangerous. Paving the Way: The EU-STREIT Intervention In June 2024, everything began to change. The International Labour Organization (ILO) under the EU-STREIT PNG Programme, helped fix the 16.7 km road between Rawo and Leitre villages. The work includes filling embankments, laying gravel, building 22 relief culverts, two slab culverts, and two box bridges. These features were carefully designed to ensure year-round, climate-resilient accessibility—even in harsh weather conditions. Now, cars, buses, and motorcycles can safely travel the road at any time of day or night. The road now connects Rawo and Leitre with three other nearby villages in the Bewani-Wutung-Onei LLG of Vanimo-Green District to the main road leading to the Provincial capital. This has reopened access to markets and services, making life easier for many and enabling local agribusinesses to thrive. Father Joseph Runnai from the Catholic Mission Station in Leitre village says, 'This road is a very big plus for the rural community here and we're very pleased indeed. Though we have boats, it was risky at times during rough seas and also expensive compared to Public Motor Vehicle (PMV) fares.' Economic Revival: A Boost for Local Farmers Previously, cocoa farmers faced steep costs—PGK 50 for passenger fare and another PGK 50 per 63kg cocoa bag—to reach Vanimo by boat. Now, they pay only PGK 20 for both passenger fare and freight on PMV, saving PGK 60 per trip. Moreover, boat travel was limited to mornings due to afternoon sea conditions. If villagers stayed until early afternoon, around 2 or 3 PM, they had no choice but to find overnight accommodation in town, adding extra expense, inconvenience, and difficulty to their trips. The restored road has not only reduced transportation costs but also reignited interest in cocoa farming. Farmers, previously discouraged by logistical challenges, are returning to cocoa cultivation. This resurgence is supported by the EU-STREIT PNG Programme. The Programme provides pest-tolerant seedlings, tools, and materials, along with training in sustainable farming and business management. Additionally, the Programme has facilitated the upgrading of fermentary units, including meeting requirements for certification by Cocoa Board of PNG, and introduced renewable energy solutions to enhance processing efficiency. Sweet Success: Community and Cocoa Thriving Cocoa farmer and fermentary operator Mr. Penuel Amele shared, 'Every day we see excited women and children carrying their wet cocoa beans in small bags and smiling to the fermentary to sell. This is something we didn't see in the community for years.' He added that interest has picked up among youths to distribute and plant Cocoa Pod Borer (CPB) tolerant seedlings from their nurseries. Unlike before, there is an increase in cash flow with thousands of Kina being circulated in the community, and this will increase. They are planning for a storage house, with support from the EU-STREIT PNG Programme, because production is picking up. The fermentary, recently upgraded with support from the EU-STREIT PNG Programme, has already produced 467 kg of dried beans – within a month cycle – and earned PGK 6,424. Operated by 103 cocoa farmers under Saint Mary's Cocoa Growers Group, the fermentary reinvests profits to purchase more wet beans from local farmers, paying PGK 4/kg, with plans to increase to PGK 5/kg to further motivate cocoa cultivation. Expanding Horizons: Benefits for Vanilla and Fisheries Beyond cocoa, the rehabilitated road benefits 81 vanilla farmers and 350 fishers in the community. Vanilla farmer Desmond Sinene says, 'I'm very happy that I can travel easily into Vanimo town which is cheaper to find buyers for my beans.' He used the road to reach Batas Market at the PNG-Indonesia border and sold 6 kg of beans for PGK 800. Empowering Women and Enhancing Mobility Women, too, are experiencing newfound opportunities. Regina Naro, a mother trained and supported by the Programme, noted, 'I'm happy that the road has come to our village. We the mothers can travel easily by road anytime of the day into town markets. Now I'm waiting for a PMV to travel to Vanimo to sell some sago and greens in town.' The improved infrastructure has also facilitated the adoption of motorcycles, a popular mode of transport in the area. Jalwin Barbare, who recently acquired a motorcycle, stated, 'Without this road, I would not buy this motorcycle,' after using it to take a relative to a farm. In Leitre Village alone, more than 10 motorcycles can now be seen parked under houses. Creating Opportunities: Employment and Social Inclusion The road project also created decent employment opportunities. Six locals, including two women, were engaged as rural road maintenance group members for routine maintenance works of the road and earn PGK 700 each month. One of them is 27-year-old Raynatalyn Simewa, a young mother with hearing impairment. Her mother, Rachel, helps her communicate. This is her first job, and it gives her pride and purpose. She uses the money to buy clothes for herself and her child and saves for school fees. Once seen as insignificant, Raynatalyn is now a valued contributor to her family and community. Her story reflects the Programme's strong focus on social inclusion, empowering differently-abled persons and ensuring no one is left behind. Strengthening Essential Public Services Public services have seen improvements, too. The road makes it easier for teachers and health workers to execute their duties. Fr. Joseph explains, 'Our teachers utilize this road any time of the day to check for their needs and also to do their shopping in town. Basic medication supply for the sub-health centre are now delivered by road as well as building materials for our new staff house which was recently constructed in the mission station.' The Power of Partnership and a Brighter Future These developments are the result of robust partnerships. The EU-STREIT PNG Programme, led by the Food and Agriculture Organization (FAO) and implemented jointly with ILO, other involved UN agencies in close collaboration with government partners, demonstrates how collaborative efforts can drive rural development. By combining institutional knowledge, technical assistance, and community engagement, the Programme has constructed more than infrastructure—it has built a pathway to opportunity. The villagers are excited about the future. They now feel more connected and hopeful. With better access to markets, services, and income, the road is helping their community grow. As Penuel puts it, 'All we wanted was a road and we can now take off from here.' A Global Gateway Strategy Realized Locally This transformative impact aligns with a broader initiative. The support to sustainable infrastructure under the EU-STREIT PNG Programme represents the first articulation of the EU Global Gateway Strategy's rollout in Papua New Guinea. By advancing sustainable infrastructure, digital access, and renewable energy in rural areas, the Programme reduces transaction costs and boosts productivity, connecting local agribusinesses to global markets through 'smart, clean, and secure' solutions—making the EU's global vision a tangible reality on the ground. About the EU-STREIT PNG Programme The EU-STREIT PNG Programme, is the European Union's largest grant-funded initiative in the country being implemented as a United Nations Joint Programme by FAO, ILO, ITU, UNCDF and UNDP. It focuses on boosting sustainable and inclusive economic development in rural areas. This is achieved by FAO's support in enhancing economic returns and opportunities within cocoa, vanilla, and fisheries value chains. Additionally, the Programme strengthens and improves the efficiency of value chain enablers, including access to Information & Communication Technology (ICT) by the International Telecommunication Union (ITU) and digital financial services by UNCDF. ILO also supports the development of sustainable, climate-resilient roads and other transport infrastructures while UNDP provides renewable energy solutions. The Programme directly benefits two provinces: East Sepik and West Sepik.
Yahoo
03-03-2025
- Business
- Yahoo
Kina Securities Ltd (ASX:KSL) (FY 2024) Earnings Call Highlights: Strong Financial Performance ...
Release Date: February 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Kina Securities Ltd (ASX:KSL) reported a 7% increase in underlying impact, demonstrating solid financial performance. The company achieved a 13% expansion of its loan book, indicating strong market growth and increased market share. Non-interest income surged by 33%, representing 55% of total revenues, showcasing successful revenue diversification. Digital and channels operations saw a 27% increase in revenues, highlighting significant progress in digital transformation. Kina Securities Ltd (ASX:KSL) maintained a strong capital adequacy of 18.4%, well within regulatory requirements, supporting future growth potential. The cost to income ratio increased to 58.6% from 54.2% the previous year, indicating rising operational costs. A fraud incident had a material impact on costs, and recovery efforts are ongoing with no specific probability of recovery provided. The company faced increased costs due to civil unrest in Port Moresby, affecting operational and security expenses. USD-based tech licensing costs rose due to the depreciation of the PGK, impacting overall expenses. Future FX income growth is expected to be more moderate compared to the extraordinary growth experienced in FY24. Warning! GuruFocus has detected 5 Warning Signs with ASX:KSL. Q: Can you provide an update on the fraud incident and any recovery efforts? A: We have included the fraud provision in the FY24 results. Recovery efforts with third parties are ongoing, and we will update the market as appropriate. However, we cannot provide specific probabilities or numbers at this time. (Respondent: Ivan Vic, Acting CEO and MD) Q: Could you elaborate on the increase in the cost to income ratio and plans to address it? A: The increase was due to one-off costs, including the fraud incident, civil unrest in Port Moresby, and investments in professional services for capability uplift. We plan to address this through budget control, process improvement, and digitization to improve efficiency over the medium to long term. (Respondent: Ivan Vic, Acting CEO and MD) Q: What drove the strong foreign exchange income, and what is the outlook? A: The growth was due to onboarding multinational clients and favorable conditions for FX supply. While these conditions continue, we expect more moderate growth in FX income moving forward. (Respondent: Ivan Vic, Acting CEO and MD) Q: Can you explain the widening spread between interest rates paid and received? A: The spread widened due to lending returns dominating net income as opportunities to invest in Treasury bills decreased. We have managed to keep our cost of funds low, between 1.1% and 1.2%. (Respondent: Johnson Carlow, CFO) Q: Is there a plan to make future earnings calls more accessible, possibly as webinars? A: Yes, we will consider arranging future calls as webinars to make them more accessible, especially for the younger generation. (Respondent: Ivan Vic, Acting CEO and MD) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
