Business arm established to push MSMEs


A BUSINESS arm of the Moresby North-East electorate is to generate revenue and support micro-to-small and medium entrepreneurs (MSMEs) owners in the electorate.
MP John Kaupa said North East Holdings Ltd was registered to help women and people involved in micro-SME activities.
It will ensure the smooth flow of MSME activities and work independently from the district development authority (DDA).
“We don’t want mothers to disturb the administration,” Kaupa said.
The DDA board members registered the company to generate its own income and to guide small business holders’ activities.
“We will set up a separate office through this company so that anything to do with SME can be dealt with separately from the district,” he said.
“When people become successful in their small to medium enterprise businesses in five to 10 years, then they can become shareholders of the company.
“You can become the owner too.
“Every MSME owner will be later become the owner of this company.”
The company will work with National Development Bank (NDB) and Bank South Pacific (BSP) to serve the interests of the people.