Mama Bank

The trucks will be used as PMVs to transport people to and from Port Moresby.

The purchase of these trucks is a result of a partnership between the Rigo DDA and the Women’s Micro Bank or Mama Bank.

Rigo DDA made available K1 million to Mama Bank for SMEs in Rigo to obtain loans the the owners of the trucks were the first to participate in the program.

The contribution was made under the PSIP's various economic activities, and the branch is now working on plans to roll out assistance to women in Small to Medium Enterprises in the province.

Branch manager, Danny Onn, intends to give out loans of K1,000 each to 100 women vendors or SMEs. However, a prerequisite is for the women vendors to be members of Mama Bank and must have at least K300 in their savings accounts to qualify for the loan. Mr Onn is putting together a plan on how best to draw down the funding.

Women’s Micro Bank Ltd (Mama Bank) partnered with the Regional member for Bougainville, Peter Tsiamalili Jnr to establish a Mama Bank agency in Buka town.

The establishment aims is to enable the local people to have easy access to financial services and credit facility to support AROB’s economic plans in empowering entrepreneurship in the region.

The recognition was from proper banking services for women to save and grow their hard earned money through access to financial services and credit facility.

Mama Bank conducted a free Financial Literacy Training at its Port Moresby Branch yesterday with 30 participants both from the formal and informal sector successfully graduating with a Financial Literacy Certificate.  

Pushpa Srinivas from Digication, was the special guest and the person who facilitated the in-house training for 10 Mama Bank Staff from various departments and functions. 

CEO for Mama Bank, Gunanidhi Das gave his Special remarks and words of encouragement and empowerment to the women who participated.

The Tari-Pori District Development Authority (DDA) partnered with the Mama Bank to establish a Mama Bank Agency in the district, enabling the local people to have easy access to financial services and credit facility to support the district’s economic plans in empowering entrepreneurship in Tari-Pori District.

The initiative was backed in 2020 and led by Rachael Marape, which eventually inspired the Prime Minister and Tari-Pori DDA to allocate a K1 million and a new office building for Mama Bank to set up in Tari.

The product was launched by Mama Bank, Sun King and NGF; and during the launch, Bank of PNG Acting Assistant Governor, George Awap stated that the provision of solar light in the rural areas can improve human development and be a pathway to better education and better lifestyle at home.

“Children can get better education because of the provision of light, part of the problem that PNG had in the past is the absence of proper lighting system at home… Also a better lifestyle at home because of the provision of light,” he stated.

The product called ‘Sola Pawa Dinau’, will provide easy access to finance rural people who need electricity.

The partners agreed to pilot the new product in Mama Bank’s Wewak branch and nine other agencies in the 10 districts of the Sepik region (East and West Sepik provinces).

According to Sun King Country Manager, Andrew Tegete, Sun King have presence in 40+ countries and have sold 13+ million of Sunking products worldwide.

Mama Bank Chief Executive Officer, Gunanidhi Das, stated this during the signing of the memorandum of agreement between Women’s Micro Bank and Good Return, an Australian Education firm. 

He stated that their aim is always to reach out to the on-bank population, “And that’s where we always find out the way cooperation and collaboration can be the way for our partnerships example with Good Return.”