Bank hands out passbooks

By ALPHONSE BARIASI
FOR over three decades Women’s Micro Bank director Noel Norikgu has been earning his keep by ‘keeping others’ books’ so they make accounting sense.
In those years, he has mostly been concerned about the balance sheet of business, weighing assets against liabilities and working out profit or loss. But earlier this month, Norigku learned, among other things, that as in business, there is also a balance sheet of life itself.
Last Friday, Feb 22, Norikgu was among a group of about 30 people, both young and old, who completed basic business and personal viability training at the Human Development Institute (HDI) in Port Moresby.
He was driven to the training because of a partnership his bank had struck at the end of last year with HDI. He attended the training with others to understand what the institution was doing so the bank could deal better with future clients that obtain similar training.
Under this partnership the grassroots bank will help participants of HDI’s business class education and training to open savings accounts to run micro to small businesses putting into practical application what they have learnt.
The group is the first to be presented passbooks and those who attend the Personal Viability Business Scheme (PVBS) training in subsequent months and years will also open accounts with the bank.
This is a significant step in the national objective of achieving financial inclusion for citizens, in ‘banking the unbanked’. It will also increase the bank’s customer base.
According to Norikgu the partnership with HDI will see an increase in bank accounts by up to 20 per cent with an average of 30 new accounts opening every month.
“If those who graudated earlier under PVBS programme are encouraged to open new accounts the the percentrage will be higher, with over 35,000 graduates.
Women’s Micro Bank currently has branches in NCD, Lae, Madang, Wewak, Maprik and Goroka.
“I am convinced after sitting through the nine days of training that the development of self, which is both holistic human development and entrepreneur development, is the key to start a viable business for long term sustainability,” Norikgu said.
“The PVBS is about learning, through thinking, performance and action learning, on how to develop personal power and is the secret to success. The holistic approach training delivered by HDI is the way forward for everyone in this country.
“As you all know, at Women’s Micro Bank, we focus solely on women.
“In PNG, women represent a very large portion of the informal economy but more than men, women lack access to a bank account to put away their savings or get a loan.
“Today’s graduation, which included me as one of the graduates, gives me a privilege and honour as I represent the Women’s Micro Bank as a director, and my family.
Norikgu said the important lessons learned were:
1. Personal viability training is about solving one’s problems, to survive and to succeed. It is about finding yourself, owning yourself and being yourself, a unique human being.
2. The balance sheet of life is very important for us to align ourselves and reduce liabilities on the right hand side and increase assets on the left hand side. A very interesting life lesson to contrast the financial balance sheet.
3. The master formula of attainment to set destiny. You may have anything you want, provide you: –
a) Know exactly what you want;
b) Want it hard enough;
c) Confidently expect to attain it;
d) Persistently determine to obtain it; and
e) Are willing to pay the price (sacrifice) of its attainment.”
He also recommended personal viability training to small business people, NGOs, churches, associations, cooperative societies and individuals who want to start business.
“This (PV training) is for all school dropouts. It will help us in solving problems.
“We have a balance sheet in life. As an accountant of 35 years, I know,” he said.
HDI founder and president Samuel Tam said at the graduation that it had taken him 24 years to finally get a bank to support his business training programme.
Women’s Micro Bank general manger Gunanidhi Das said the Women’s Micro Bank was the link or bridge between the informal sector, which is made up mostly of women, and the commercial banks.
“We are ready to support each individual who has attained training at HDI.”
The partnership with HDI is like a guarantee to the bank for borrowers because HDI itself will be keeping track of each graduate to follow his or her progress and recommend loans to grow businesses.
“As a lender, we are assured that somebody is following the progress of borrowers for us,” Das said.
He also urged the graduates to spread the word so more people attain training and grow a network of borrowers.
Non-governmental organisation, Hope Wordwide sponsored four young men and women from the Nine Mile settlement to attend the course.
One of the four, Paul Aisa, said the training has broadened his mind and given him new knowledge.
Anna James from Friends Frangippani, an NGO that assists people living with HIV/Aids, said the knowledge gained from HDI would enable her to assist her clients to not only deal with thier health situations but also become independent financially.
Gima Laurie, who is in his 50s was the oldest among the batch of trainees.
The partnership between the HDI and Women’s Micro Bank now makes it possible for grassroots people like Aisa and Laurie to learn basic business skills and save their hard-eanred money in a bank that understands them well.