Eastern Highlands Provincial Government Sets Up a New Coffee Company in Goroka
Rumbia Coffee Export Limited (RCEL) is a new coffee company in Goroka, incorporated under the Companies Act 1997 in 2019 with Investment Promotion Authority (IPA).
It is owned by 600, 000 plus people of Eastern Highlands Province through the Eastern Highlands Provincial Government (EHPG).
The establishment of the company with an initial funding of K2 million as a seed capital is a concept which is a strategic intervention and initiative of the Governor of Eastern Highlands Hon. Peter Numu.
It is his vision to invest and develop Coffee in the province according to two of his priority areas inclusively; agriculture and investments, which are in alignment with the country's Medium Term Development Plan (2018-2030 MTDPIII) under the economy recovery strategic plans, encouraging growth in Small to Medium Entrepreneur (SME) in agricultural sector.
While oil and gas are ranked first largest consumable commodities, coffee remains the second largest consumable commodity at the realm of global trade in its economic context.
Verifiably, coffee in Eastern Highlands Province alone contributes over 50% of the total exports, an average of 23, 187, 000 tonnes of green bean bags per year which generates K162 million annually.
Furthermore, 95% of Eastern Highlands produce high premium quality coffee beans.
Since most of the companies and middlemen buy coffee at very poor rates in EHP and in PNG compared to other countries, RCEL is aimed to localize coffee exporting business in the province, creating direct market system abroad and shifting growers to sell and benefit from coffee a much higher value in price instead.
On the other hand, coffee industry has booming capacity to boost the economy at both provincial and national levels. In that perspective, the company was established.
The good news about the company is that it has an operational plan of doing door to door coffee buying. This option only comes to prove the Governor's heart for Eastern Highlanders.
As an ideal strategy to cheer and gear energy in the local coffee growers, the practice of paying for high transport cost of flying and trucking coffee into town will be stopped. The coffee will be bought with good value in price at the door step, creating expense-free community and society for EHP.
RCEL is EHPG's own company but it is meant to boost the Province's internal revenue to maximize service delivery to the people. At the end of the day, the company profits to serve EHP!
ENDS//
EHPG Public Relations
WATCH LATEST NEWS ON OUR YOUTUBE NEWS CHANNEL HERE
Watch Dr. Lino Tom – The Most Performing MP in Papua New Guinea in His First Term as a Member of Parliament, 2017-2022.
Dr. Tom Lino Camping with the Workers at the Road Construction Site.
Read Papua New Guinea National News Updates by CATEGORY:
| PNG | POLITICS | BUSINESS | EDUCATION | HEALTH | SPORTS | JOBS | STORIES | WORLD |
Kindly share the Papua New Guinea (PNG) National News Updates with your connections to support and promote for the good of the People and the Nation of Papua New Guinea.
Thank you
GOD BLESS YOU! GOD BLESS PAPUA NEW GUINEA!
Post Date | October 12, 2020 2:49 pm
Posts
Comments
Post a Comment