Banking services arrive in rural areas

To help bring banking services to the village, three community groups had registered to become banking agents for Mibank.

The groups include Voice for Change in Jiwaka, along with KGWan Eco-Habitat Inc. and Independent Reform and Restoration Movement (IRRM) in Chimbu.

They will all become banking agents with MiBank, and expect to open accounts for more than 400 farmers.

IRRM Manager Toppy Sundu said in the past they never had bank accounts and had to hide their money or spend it.

"If we did have a bank account it took all day to travel to town to deposit or withdraw money. It would cost us money for PMV and was not safe," he said.

"By IRRM offering deposit and withdrawal services in our village, people are able to comfortably and safely access bank accounts.

"This means they will save more and more money will be spent at trade stores in our community rather than in
town. This will increase our village economy.”

Sundu said by supporting community groups to be banking agents, this will make banking services available to
hundreds more people, and potentially thousands in the future.

Freddy Mou