DEI DISTRICT SIGNS MOA WITH MAMA BANK

CAPTION: Dei MP Desmond Kipa and his DDA CEO Raphael Koldop signed the MoA with Mama Bank Chairlady Dr Elizabeth Kopel and CEO Gunanidhi Das

BY SAMUEL RAITANO

DEI District Development Authority in Western Highlands Province has put K1 million into the newly opened Mama Bank Mt Hagen Branch and signed a Memorandum of Agreement (MoA) with the bank for people in the district to access SME loans.

The signing was done on Tuesday this week, during the opening ceremony of the branch in Mt Hagen City.

Dei MP Desmond Kipa and his DDA CEO Raphael Koldop signed the MoA with Mama Bank Chairlady Dr Elizabeth Kopel and CEO Gunanidhi Das so that people of Dei would access loans adding up to K3 million based on the capital of K1 million put forward by the DDA.

Dei MP Desmond Kipa says they have 80 registered cooperative societies in the district as well as other SMEs or individuals in informal sector trying to grow their businesses, hence, the funding was a seed being planted by the DDA.

He encourages people to work the land, do marketing , earn money, save with Mama Bank, obtain loans from the funding made available and grow their wealth from there because politicians did not carry free cash around to dish out.