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PNG's Women’s Micro Bank to Open a Branch in Yangoru-Saussia

 Women’s Micro Bank is expected to open a branch soon in Yangoru-Saussia District of East Sepik Province upon invitation by the local MP and Minister for International Trade and Investment, Richard Maru. A team from Women’s Micro Bank (Mama Bank) Head Office visited the district on Tuesday to inspect the proposed building space in Yangoru Station which the District Development Authority was offering the bank to establish their branch for rent-free to make a low-cost entry into the district.

“Our mothers are the mainstay of our families especially our market mamas in our local markets widely known as the informal sector. I want Mama Bank to open a branch in my district because they provide a service where they go to the villages and open bank accounts for the mothers. With Mama Bank establishing a branch here, most of our mothers in the district will have access to a bank,” said Minister Maru.

Mama Bank’s Marketing & Training Manager, Ms. Melisha Sindiwan said Mama Bank was serious about opening a branch in Yangoru-Saussia.

“We have an Access Point in Kusambuk but we want something bigger than that; we want to open a branch because Yangoru-Saussia is a growing district with many developments happening. Minister Maru is coming up with many initiatives to increase cashflow in the district, so it is important for banks to be accessible and affordable for people,” said Ms. Sindiwan.

“Banking in Papua New Guinea is very costly, and it is hard for ordinary women to have access to banking. It is very difficult for them to even open bank accounts because of the complicated requirements, and they also have to travel distances to do banking. 

Mama Bank tries to help women by making our products and services very simple so our mothers in the villages can open a bank account. We also try to be at the doorsteps by reaching our mothers where they are. It is very timely that we have been invited to come here,” said Ms. Sindiwan.

“We also provide financial literacy and business development training which other banks are not offering so this will be a plus for our mothers here. Once the branch is setup then we will provide these trainings,” added Ms. Sindiwan.

Minister Maru requested Mama Bank to have the branch up and running in Yangoru-Saussia before the end of this year.

“This will be a Christmas present for my mothers in the district,” said Minister Maru.

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