BY: FELISHA KAPIPI
A 45-year-old father of seven is the proud recipient of one of the four trucks given to Rigo district through Mama Bank.
Kora Wali Nabama, a former crew of a PMV truck from the Rigo district in Central province spent most of his time being a truck crew and helping his wife out at the market in their village.
Nabama who hails from the Toule village in East Omen area of Rigo, got keys to his truck from Mama Bank and the Rigo DDA at Women’s micro bank Head office in Waigani Central on Thursday, April 11th.
The disbursements of these vehicles are through a Motor Vehicle Loan granted by Mama Bank upon agreement of repaying the loans at 12% special interest rate.
Member for Rigo and Minister for National Planning Sir Ano Pala has already signed an agreement with Mama Bank through its credit guarantee scheme in which his people of Rigo would now benefit, by acquire a loan.
Nabama said the truck would be of great benefit to his village and the surrounding communities as well.
“It’s a three-hour drive from my village to the city and not many trucks operate this route therefore demand will be high, and I believe I will repay my loan in the next 18 months. We work together to repay the loan, I provide the service and they pay for the service,” Nabama said.
This truck is a challenge to the Nabama family to continue repaying the loan and also an inspiration to others if they wish to do business with Mama Bank.
“The PMV fare back and forth the village is K50, if they have a lot of cargos, they pay K150. I believe I will repay the loan in 18 months’ time as I know the cash flow in the district and I look forward to get my second truck soon after I repay my loan,” he said.
Nabama was overwhelmed with emotions as the engine of his new truck roared to life. He said the feeling is unimaginable and words cannot express what he feels.
Through his personal experience, he urged other Papua New Guineans to work with Mama Bank for the betterment of the SMEs and MSMEs.
Caption: The Nabama family with their new truck. – Picture supplied
