By WASITA ROYAL
RESIDENTS of East New Britain can now open savings accounts with the ENB Savings and Loans Society without paying the usual K50 fee, thanks to a K10,000 initiative from the Office of the Governor.
The East New Britain Provincial Government partnered with ENBSL to disburse the funds, encouraging more locals to open and manage savings accounts with the local financial institution.
Last Thursday, 14 May, saw the signing of two Memoranda of Understanding, the K10,000 disbursement to ENBSL, and the review and continuation of the ENBPG ENBSL K2 million SME credit facility.
Provincial Administrator Mr. Levi Mano, speaking during the signing, said the assistance of K10,000 comes directly from the Office of the Governor, with facilitation from the ENB provincial administration.
Mr. Mano explained that although it is still government funding, it comes from the Governor’s Office. Based on the government’s strategic plans and policies, Governor Michael Marum provided K10,000 to support people who want to open accounts, with the fee now covered under the arrangement.
Mr. Mano also stated that the provincial government is addressing unemployment and youth issues by encouraging people to work the land, start small businesses, and access assistance through ENBSL. He said the government, through its partnership with ENBSL, is creating an avenue for people to create their own employment instead of depending on employment elsewhere. People can return home, work the land, start SMEs, and use the support available through ENBSL.
ENBSL Marketing Manager Mr. Wilson Ulaban said the society is working in partnership with the government to improve the livelihoods of the people of East New Britain. He said the signing of the MoU comes at an important time, encouraging more people to access available financial services and programs.
Mr. Ulaban encouraged everyone to join ENBSL and be part of these programs, adding that it is not good to miss out while others are benefiting from these opportunities.
Those interested in accessing the assistance can visit the ENBSL Kokopo office and enquire to open a savings account.