Article by: Malik Obama (Government Relations at Luba Freeport)
As is customary, Luba Freeport Ltd. (LFL) received official notification for its 2016 Corporate Social Responsibility (CSR) requirement from the Ministry of Mines Industry and Energy (MMIE).
This year it involved the renovation of an old and run-down basketball court situated on the campus of a local college in Malabo. The renovation works were awarded by the MMIE to a local contractor called “Welding & Fabrication Services EG Ltd. The Ministry, in collaboration with the contractor, had established a budget of 20,000.000XAF in order to meet the renovation requirements.
On receipt of the notification, LFL contacted the contractor in order to visit and establish the actual state of the basketball court. This was also to obtain certain information with regards completion timetable and other budgetary details.
After the initial meeting with the contractor and following the site visit, it was decided to advance 50% of the financing to the contractor in order to enable him to initiate and complete the renovation works. The balance was agreed to be released on completion of the project.
The upgraded facilities can now be better utilized by the students and local community, and Luba Freeport Ltd. is proud to have been part of this project