November 28, 2023
KCH celebrated the appointment of Ms. Vicky Vene to the position of Acting CEO for National Development Bank (NDB) after 15 years working in senior management. Her appointment is a historical milestone as the head of a bank including SOEs in Papua New Guinea.
The small event was witnessed by the staff and management of KCH in Port Moresby. Also present were NDB representatives – board and management.
NDB Chairman, Mr Darrell Seeto said he was extremely proud of Ms. Vene’s appointment and that she was a great team player, which was vital for organizational growth.
“For her to say she would work with KCH during her tenure as NDB Acting CEO, speaks volumes about Ms. Vene’s quality as a team player”, Mr Seeto said.
Whilst welcoming the NDB team to KCH head office, Managing Director, Professor David Kavanamur congratulated Ms. Vene on her elevation to the position of Acting CEO and said she would steer NDB under new leadership.
“From a shareholder’s perspective, we are proud and look forward to greater partnerships ahead under your leadership,” Mr Kavanamur said.
He added that the appointment of a female to take on a leadership role under one of its SOEs was aligned to KCH’s target in achieving 30% representation of women on both boards and senior management roles across SOEs in the country by 2025.
Ms. Vene thanked Professor Kavanamur and KCH for the support and said she was excited in taking up the new role. She said as a woman, it was challenging and also humbling to lead an organization that had been in operation since 1967.
“It’s a blessing for me in my career. I hope my appointment inspires other women in the country to be committed in taking on leadership roles,” she said.
Ms. Vene’s achievement highlights KCH’s commitment to foster diversity and inclusivity that is enshrined in the organization’s strategy, diversity and inclusion policy.
The small celebration reflected KCH’s vision to break down barriers and elevate professional women like Ms. Vene to management and board positions that are dominated by male counterparts.
“KCH is mandated to pay annual dividends from the profit earned by assets and investments held in the GBT, ” said Minister Duma.
Kumul Consolidated Holdings, in collaboration with PNG Power Ltd (PPL), is seeking Expressions of Interest (EoI) from owners of suitable alienated land to enter into a lease agreement with a future independent power producer under which the land will be used for the installation and operation of a solar farm.
Acting Managing Director of Kumul Consolidated Holdings (KCH) David Kavanamur, presented Chief Executive Officer of Nasfund, Ian Tarutia and his Investment Team with the Information Memorandum for the partial privatisation of Telikom Limited.