K50 million in loans to SMEs

​K50 million in loans has been acquired by Small to Medium Enterprises (SMEs) with the Bank South Pacific.

According to BSP, more than 200 SME loans have been acquired by SMEs throughout the country.

CEO Robin Fleming says assisting SMEs in the country is one of the major focuses for the bank.

“We’re very strong in helping SMEs. This is one of the board’s directives to management, to help the small Papua New Guineans, help them into business,” he said.

“We get questions from the board about SMEs. What are we doing? How are we promoting young Papua New Guineans? How are we promoting businesses?”

Since the introduction of the ‘Smart Business’ product, 24,000 SME accounts have been opened with BSP.

Author: 
Cedric Patjole