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Port Moresby
September 22, 2021
Education Featured Finance Life News Southern

BSP Alotau focuses on financial literacy for local communities

Financial Literacy or Banking Education has become the focus of BSP Alotau Branch, giving people and customers a better understanding of why banking services exist and how they benefit people.

BSP Alotau Branch Manager Martin Gilo says BSP has been working alongside the Milne Bay provincial government, visiting parts of the province to conduct product and service awareness, while at the same conducting Financial Literacy Training.

More than 8,000 participants have benefited from banking education in the province since its inception in 2015. A program that focuses on saving, budgeting and eventually leads to Business Development Skills.

The Branch was established 38 years ago. It is assisted by two sub branches – one located on Padipadi Estate in the Suau District and the other in Losuia in the Trobriand Islands. Together they service the province’s four districts and 16 LLGs. Population of the province is scattered across the vast and remote islands where access to basic banking services and other government services is very minimal.

BSP Alotau Branch Manager Martin Gilo explains Financial Literacy Training is the way forward to achieve the Bank’s strategic goals.

As part of BSP’s ongoing obligation towards the community where it operates, BSP Alotau last year delivered medical equipment to Alotau Urban Clinic and a hand washing station each to Koeabule Primary School and Raven Recreation area.

Branch Manager Gilo says due to Covid-19, many public places such as hospitals and health clinics have adopted hand washing as a compulsory activity. The hand washing stations have helped reduce the spread of many other diseases as well.

BSP Group General Manager Daniel Faunt says despite security issues in the province in recent times, BSP Alotau Branch continues to serve Milne Bay’s population.

He says the Alotau Branch is also assisted by 3 BSP Cash Agents located both on the islands and the mainland, three ATMs and 278 active EFTPoS merchants.

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