Economic zone boosts profile of BSP branch

THE Sepik Economic Zone has made the BSP Financial Group Ltd’s Wewak branch one of the top five business loan portfolio branches in the country, according to the bank.
The East Sepik’s branch was opened in 1977.
While the province’s economic activities have picked up in recent years since the establishment of the economic zone, the BSP small-medium enterprise (SME) products has grown too. Wewak branch manager Robert Jomino said financial literacy training had picked up momentum because of agricultural development and business opportunities.
But he said the service that “stands out in East Sepik is our SME loan products which is on demand”.
Jomino said the credit enhancement scheme was essential in the area.
The Wewak branch services customers from as far as Ambunti-Drekekir, Wosera- Gawi, Angoram, Maprik and Yangoru-Saussia.
Last year the Yangoru sub-branch was upgraded to a hybrid status after seven years of operation, offering more banking services to the people of the district and in particular the Sepik Plains.
The bank will fund the refurbishment of a classroom at the Kreer SDA Elementary School in Wewak.
Work has started on the K30,000 project.
Last year, BSP established the St Andrews Technical Vocational School’s computer laboratory donating seven computer sets and two printers for its library.
Since 2009, BSP has invested K275,000 through the delivery of 12 community projects by the BSP Wewak branch.