A homegrown business cooperative group in Misima Island is expected to be the biggest business arm of the Misima people.
The North Misima Cooperative began with K80, 000 in 2006, but now has over one million kina in assets and cash.
The cooperative aims at rebuilding the lives of the people on Misima Island after a downgrade of socio-economic life, following the closure of the Misima Gold Mine.
The North Misima Cooperative may be small, but it is the only one of its kind in existence on Misima Island.
It was the result of brain storming sessions between senior members of the North Misima zone.
Ten years ago, the groups were separated into sections so that mining royalties could be easily divided amongst the groups.
But the cooperative didn’t come the easy way. The group has been finding solutions to a land conflict between the landowners over the mining benefits.
In 2006, it was finally registered and gained recognition from the trade and industrial cooperate society.
The cooperative is growing now and has almost 300 shareholders and counting.
The establishment of the cooperative was also formed in a time when the national government had called to introduce the SME sector.
One of their aims is to align their business policies with the government’s SME policies.
The cooperative has engaged other businesses to operate on the Island. This includes a grassroots bank that will enable ordinary people to have access to low interest loans.
Although North Misima cooperative is owned by one group of people on Misima Island, the group doesn’t see itself as an independent business body.
Their aims are centered on improving the lives of ordinary village people on the Island through Small Medium Enterprises.
previous post