The Kerowagi District Development Authority (DDA) has committed K1 million to establish a Mama Bank access point in the district, aimed at supporting Micro, Small, and Medium Enterprises (MSMEs). This initiative was formalized through a Memorandum of Understanding (MoU) signed by local MP Francis Kikin Siune and Mama Bank officials.

Siune emphasized that the K1 million will serve as a guarantee for residents to access banking services, facilitating the growth of local businesses. He noted that this partnership is a significant step towards financial inclusion, particularly for marginalized communities. Mama Bank’s Acting CEO Rex Nonga highlighted the bank’s mission to provide services to the 80% of Papua New Guineans currently without access to financial institutions.

The collaboration will also include training in financial literacy and capacity building, fostering a culture of savings among the local population.