BY LORETTA B MANELE
Western Province’s Kolombangara Forest Plantation Limited, (KFPL) has signed a new shareholding agreement.
Prime Minister Jeremiah Manele spoke briefly about this at his press conference yesterday.
“I wish to begin by highlighting an important national milestone achieved under the Government for National Unity and Transformation.
“That is, last week I had the honour of witnessing the signing of a new shareholding agreement for Kolombangara Forest Plantation Limited, KFPL,” he said.
Manele explained that the parties to the agreement include Kolombangara Land Owners Trust Foundation through their investment arm, Kolombangara Islands Investment Limited, the Investment Corporation of Solomon Islands, (ICSI) and a new investor, New Forests.
“For decades, landowners have wanted a real say in the company operating on their land.
“Under this new agreement, they now own 20 percent of the company, giving them a direct voice in decisions,” he said.
In this agreement, the government through ICSI, holds 5 percent and the investor, New Forests; an international forestry company, owns 75 percent, bringing investment, expertise, and access to overseas markets.
The Prime Minister noted that this is a story of partnership, trust, and inclusive development, showing how government, investors, and landowners can work together to create lasting value for Solomon Islands communities.
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