Womens Micro Bank

Mama Bank launch Revolving Fund for Agri Financing

The new and unique product aims to empower Agri-exporters, Agri-SMEs, and small holder farmers in rural areas in PNG. The product of a revolving fund will provide access to credit facilities to the exporters that offer demand driven approach of financing and repayments with other benefits.

Mama Bank says the project aims to increase the export of quality coffee, copra, cocoa and vanilla where in women-led SMEs to be an active player in the supply-chain by working with exporters, in return supporting livelihoods under the Australia-Papua New Guinea Economic Partnership program.

Mama Band, CUFA work together

The signing of the Memorandum of Understanding was held yesterday (May 12th, 2023) at the Mama Bank Office.

The partnership aims to bring in financial literacy among school children, SME development among youth, and women, and other individuals and encourage them with unequal barriers to economic opportunity.

Mama Bank Operations Manager, Rex Noga, shared that the organization is dedicated to work with the younger generations and making a positive impact on their future.

Sola Pawa Dinau

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.

Women’s Micro Bank offers shares

In a media conference today, chairman Ricky Mitio announced the release of 7,021,300 shares at an issuing price of K1 per share.

Mitio said the once in a lifetime opportunity is only applicable to members of ‘Women in Business’, customers of Women’s Micro Bank, and members of PNG Women in Business.

Mitio said the offer will strengthen the Bank’s capital adequacy; expansion of its branch network; improve technology for risk management and banking services; but more importantly give women members direct ownership of the bank.