Prime Minster James Marape and his Tari-Pori DDA has invested K1 Million to Women’s Micro Bank to support women, girls and their families in Tari-Pori.
Women’s Micro Bank Limited branded as MAMA BANK has partnered with the Tari-Pori District Development Authority 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 TariPori District.
This initiative was led by Madam Rachael Marape two years back in 2020. This has eventually inspired the Prime Minister of Papua New Guinea and Member for Tari-Pori, Hon. James Marape to organized his DDA
to allocate a K1 million and a new office building for Mama Bank to go and set up in Tari.
The Mama Bank and Tari-Pori District Development Authority recognized that women in the Tari Pori District of Hela Province should have proper banking services to save and grow their hard-earned money through access to financial services and credit facility.
They should have their own bank account with affordable and adequate access to credits to enable them progress their entrepreneurship and contribute towards their family’s welfare and district’s economic development.
During the MOA signing ceremony held at Mama Bank’s Head Office on Thursday 16th February, 2023 in Port Moresby, Prime Minister Hon. James Marape appealed to the women and people of Tari-Pori that he is
committed to support them through established arrangements such as financial institution in their entrepreneurial ambitions and not cash handouts.
“While I appreciate and truly thank my people of Tari-Pori for their undivided support in mandating me as their leader, I call on all the people of Tari-Pori who are living in Port Moresby and elsewhere and doing nothing to go back to Tari and work the land. Hard work and perseverance by making your hands dirty will take you to the next level.” Said Prime Minister James Marape.
Prime Minster James Marape further congratulated the other 10 Members of Parliament and their DDAs who have partnered with Mama Bank and called on all other Members of Parliament to allocate their K1 million
from the DSIP envelop of K10 million into such program as that portion of amount is purposely for this sort of
programs for economical empowerment for their respective districts.”
“I am behind Mama Bank as its loan product can finance any simple mothers starting at K300.00 and that it is inspiring as it really captures the needs of simply and ordinary Papua New Guineans at the micro level
who wanted to startup somewhere and grow.” Said Prime Minister James Marape.
The Chairman of Mama Bank, Mr. Noel Norikgu thanked the Prime Minister and his DDA for having that
confidence in Mama Bank to be a bank of choice to support the economic empowerment programs of TariPori district.
“We felt obligated to provide the banking services that can economically empower all women, girls and their
families. We’ve been placed in a space of greater responsibility as the women’s bank to be the major player
for women and girls’ financial inclusion as captured under the National Financial Inclusion Strategy from
BPNG. And today, that is a responsibility we share with your highest office and the Tari-Pori district for the
advancement of the sovereign state of Papua New Guinea.” Said Chairman of Mama Bank Noel Norikgu.
Mama Bank’s CEO Gunanidhi Das in acknowledging the Prime Minister stated that Mama Bank truly thank
and appreciate Madam Rachael Marape. Madam Marape has been a great advocator and ambassador for
Mama Bank in various forums and not only talking but has enabled the realization of Mama Bank’s
establishment in Tari-Pori.
“ Madam Marape, we thank you and really appreciate you for your advocacy for Mama Bank and we believe that that has set the tone for the Prime Minister of Papua New Guinea to extend his great work with Mama Bank from where he has already started under his government to stimulate local economy by working with banks and financial institutions.” Said CEO Das.
CEO Das stated that the Tari-Pori DDA and Mama Bank are prepared to consider the provision of loan
facilities to borrowers through direct and through different available suppliers.
This includes farmers who are unable to provide security of a type or in an amount which banks would be requiring in the normal course of its operations. This facility of credit scheme provided by the Prime Minister James Marape Hon. James Marape and his DDA will enable us to go extra mile in serving the rural farmers in Tari-Pori.
The CEO Gunanidhi Das further explained that the Mama Bank is trying to implement the real microfinance concept in the country. Mama Bank believes that real microfinance needs models that responds to the needs
and concerns of the benefactors, and that Mama Bank has those models which includes hub and spoke,
group mechanisms and through collaboration and cooperation with key stakeholders.
Real microfinance is to go out in the field in rural areas and serve the last miles and not to sit in the air condition and wait for the customers to come to the banks.
CEO Das thanked the Prime Minster Hon. James Marape, Madam Rachel Marape and the Tari-Pori DDA for
having that vision for micro people and commended the great effort shown.
He thanked all the media fraternity for their support to ensuring this innovative microfinance model to reach all corners of the country.