Business News

New Women In Business Micro Bank Opened

by Bridgette Komatep – EM TV, Port Moresby

Modilon Haus is where the new agency for the PNG Women in Business Micro Bank is located in Madang.

At the opening on the 10th of October this year, women from Rai Coast and different parts of the province raised concerns to Founder and Executive Director of PNG Women in Business, Janet Sape. 
She said the women were happy for the Micro Bank; however, they want good roads so they can travel safely to and from town.
One of the biggest risks they take is traveling with large sums of cash.
One of the aims of the Women’s Micro Bank is to encourage a savings culture so that women can bank their money and at the same time, take out loans to start up small businesses.
It is also in line with the regulator, Bank of PNG’s goals to make banking accessible to one million customers in remote areas of the country.
So far, provincial governors who have pledged to support Women’s Micro Bank in their respective electorates include NCD Governor Powes Parkop, Morobe Governor Kelly Naru, Eastern Highlands Governor Julie Soso and more recently, Madang Governor Jim Kas.
They have provided a funding assistance of K500, 000 for the women of Madang.
More provincial governors are expected to follow suit.

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