Promo used to educate people on savings

Business

THE PNG Microfinance Limited has used its promotions to educate people in the informal sector on the importance of savings, marketing assistant Edea Hota says.
He told The National yesterday during the Smart Savers promotion major draw at its Boroko branch in Port Moresby that the aim was to serve the unbanked people.
“We ran a three-month promotion from March to June on the smart savers promotion where we encourage clients to open an interest bearing deposit account,” Hota said.
The promotion was for customers interested in opening an interest bearing deposit account.
There were 49 clients from the Boroko branch who participated.
“The clients have opened their account with as low as K300,” Hota said.
“The maximum is up to them as long as they want to invest.”
“Terms and conditions apply to the promotion. So when they applied, and picked a term for let’s say six months and onwards, they are eligible to enter the promotion.
“The promotion uses the smart savers concept to educate the unbanked because microfinance is basically targeting the informal sector.”
PML gave away three prizes worth K1595.36 to their winning clients who have opened their accounts with PML for more than three months.
Boroko branch manager Rex Noga said the bulk of their business and those participated in the promotion were with the grassroots.
“We find that a lot of our customers are the ones who sit in the markets selling goods like betelnut and cigarettes and fresh produce.”

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