The mothers of Yanguru-Saussia District in East Sepik Province recently celebrated the official opening of the Women’s Micro Bank (Mama Bank) while also celebrating the 49th Independence Day on 16th September. The mothers with tears of joy applauded and thanked their Local MP and Minister for International Trade and Investment Richard Maru who officially cut the ribbon on the 18th of September 2024. Mama Bank branch is now the second bank to open in Yangoru-Saussia District, second to the Bank of South Pacific (BSP) being the first. This now eliminates the need to travel to Wewak for banking purposes. Minister Maru not only officially cut the ribbon but also launched the District Credit Guarantee Scheme called, “Putim na Kisim”. Minister Maru explained that the scheme will help village-based MSMEs obtain bank loans through a 1:2 savings-to-loan ratio. Borrowers must save K1 to borrow K2, with loan amounts ranging from K500 to K10,000, and potentially up to K20,000 for those who repay successfully. If a borrower defaults, loses their savings with the bank, the difference will be paid by the Yangoru-Saussia District Development Authority (DDA) through its Investment Banking Division. Representing the Yangoru-Saussia District Development Authority (DDA), Minister Maru presented K250,000 to Mr. John Turu, the Regional Coordinator for Sepik Region Operations at Mama Bank. This was followed by an announcement of an additional K250,000 next month totaling to K500,000. This will provide the bank to serve as a security guarantee for the people, enabling them to begin borrowing from the bank. Mama Bank was also provided with a brand-new vehicle by Yangoru-Saussi DDA to enable banking service to be accessible. Minister Maru further emphasized that within 12 months the bank should coordinate with all ward councilor and LLG Presidents to initiate a program on financial literacy training to open bank accounts for the 96 wards across Yangoru-Saussia District.