Kada Poroman opens new ATM outlet

 THE Kada Poroman Microfinance Limited in Kokopo has opened an ATM outlet to improve service delivery to its clients.

There are 28,000 people who have accounts with the bank.

Board chairman Henry Tavul said the bank was keen to grow “a simple and friendly financial institution that empowers the well-being of the unbanked and grassroots in the community”.

He told stakeholders of the bank that KPML required their continued support in providing services to the people.

“We will need your continued support and assistance to reach higher to the skies of probability and sustainability,” he said. Tavul said they started in 2003 as three separate entities – Micro Vapipiai Development Foundation, Kokopo Co-op Society Limited and Kokopo Microfinance, now known as the Kada Poroman Micro Finance Limited – under the leadership of Sir Rabbie Namaliu.

Sir Rabbie was the Kokopo MP at that time and allocated K250,000 seed funding to start the micro finance.

Tavul said the name variation in 2012 to Kada Poroman Microfinance Limited was primarily to meet marketing needs. 

It has 28 employees. In 2007, the Kada Poroman Microfinance Limited had only 1168 account holders and 11 employees.