SIOUX LOOKOUT — First Nations-owned Thawikayhigan LP, a business development group, on Friday announced their $3.7 million acquisition of electronics sales and service company Oshtugon Computers Inc. in Sioux Lookout.
Oshtugon Computers Inc. started as a computer store in 1997. Soon after, the company incorporated various forms of electronics and accessories. With the partnership of Superior Wireless and Tbaytel, the company become the leading provider of cell phones. Today, Oshtugon Computers Inc. reaches beyond electronics and into appliances and furniture.
"This is the first business acquisition that will directly service our First Nations” communities, said TKG Group president Jonathon Mamakwa at the signing.
TKG Group chair Archie Wabasse said, “the first step (TKG group vision) has been realized, which is the acquisition of Oshtugon.”
TKG Group is owned equally by Kingfisher Lake First Nation, Kasabonika Lake First Nation, Kitchenuhmaykoosib Inninuwug, Wapekeka, Wawakapewin, and Wunnumin Lake First Nations.
TKG Group’s mission is to commit resources and invest in socio-economic development for their communities.
Wabasse explains that the purchase of Oshtugon will generate new opportunities for the communities including providing goods, services, and employment, including opening a distribution centre in Pickle Lake.
“We are not going to be stopping here. We are going to be continuing looking at other business opportunities where our communities can benefit,” Wabasse said.
Frank Head, president of Oshtugon Computer Inc., expressed his gratitude to TKG Group by jokingly stating, “I’m very grateful that some of my best customers are actually buying it.”
Head admits that the acquisition of Oshtugon fits in with TKG Group’s vision.
“To those partners who are non-native, who have been in this business for a long time, this is what reconciliation looks like. Non-native businesses helping out First Nations get on their feet and reinvest in themselves. This is what it looks like,” Mamakwa said.
