Kina Bank and the Ok Tedi Development Foundation (OTDF) have completed a strategic study tour to New Zealand aimed at securing long-term economic prosperity for communities in Western Province.
The delegation visited New Zealand from 02nd to the 08th of May engaged with leading Māori Iwi institutional funds, including Waikato Tainui and Ngāti Toa Rangatira, to gain insights into managing wealth and institutional capacity building.
The visit focused on how mine impacted communities in the Western Province can sustain their livelihood through prudent investments and good corporate governance after the Ok Tedi mine closes.
Chairman of OTDF, Jesse Pile said the transition to a post-mine economy is the most critical challenge for our communities.
“We saw firsthand how strong governance and a focus on long-term growth can secure economic independence for future generations,” he said.
Kina Bank CEO and Managing Director Ivan Vidovich added that the bank’s partnership with OTDF is fundamentally about securing the future for the mine impacted communities of Western Province.
“The experience of Iwi funds provides organisations like OTDF the right structural foundations to successfully manage and grow significant commercial portfolios with the help of fund managers like Kina Bank,” Mr. Vidovich said.
“This tour was a transformative capacity-building exercise,” said Johanis Saferius, Acting Chief Executive Officer of OTDF. “We are better equipped to manage and grow these funds for the long-term benefit of our communities.”
Kina Bank Head of Retail Wealth Management and Business Development Willie Konga said the success of these models lies in disciplined commercial thinking and strong institutional structures.
“Our focus is to build funds that grow sustainably across generations,” Mr Konga said.
Kina Bank and OTDF will now integrate these learnings into the governance and investment strategies of the CMCA Trust to deliver lasting benefits for the mine impacted communities.
ABOUT KINA BANK
Kina Bank is a leading financial institution in Papua New Guinea, providing a comprehensive suite of commercial banking, wealth management, and corporate advisory services. Kina Bank is committed to driving economic growth, structural reform, and sustainable investment strategies across the nation.
ABOUT OK TEDI DEVELOPMENT FOUNDATION (OTDF)
OTDF is the legally mandated delivery vehicle for development programs and trust fund management for the Community Mine Continuation Agreement (CMCA) communities of the Western Province. Its mission is to facilitate sustainable, intergenerational socio-economic development leading up to and beyond the life of the Ok Tedi mine.
Middle (L-R): Mr Jesse Pile (blue hat) – Chairman OTDF, Deputy High Commissioner to NZ, Mr Pati Pyale, Mrs Amy W’aewa (with bilum) – CFO Waikato Tainui, colleagues and other delegates.