PNG No.1 SME Limited has signed a Memorandum of Understanding with Mama Bank to advance financial inclusion and SME development in Papua New Guinea.
PNG No.1 SME Limited Executive Director, Dicky Lao highlighted that this strategic partnership brings together two organizations committed to empowering grassroot entrepreneurs, particularly women and those in the informal sector.
Lao mentioned that through this collaboration, PNG No.1 SME Limited aims to expand access to financial services for SMEs. In that manner it will strengthen financial literacy and business training programs as well as support micro and small businesses with structured funding pathways.
“At PNG No.1 SME Limited, we believe that real development starts from the ground up. Partnering with Mama Bank strengthens our mission to formalize, finance, and empower the 80% informal sector that drives our nation’s economy,” Lao said.
He added that this MoU is not just a document but a commitment to transforming lives, building sustainable businesses, and creating opportunities for Papua New Guineans.
“We thank Mama Bank for their trust and shared vision. Together, we are building a stronger SME ecosystem for PNG,” Lao concluded.
