Farmers to access financial service at village level

COCOA farmers in East New Britain will have a new system where they can access financial service at their door steps.
PNG Agriculture Company chief executive officer Brad Jackson said they were rolling out the system in communities where the company had signed an agreement with MiBank.
“We are choosing a local point in the wards where we are partnering with trade stores in every village we buy cocoa from. We are funding the trade stores to be MiBank agents,” Jackson said.
Farmers will be given receipts when their wet beans are weighed.
They can then go to the nearest trade store, show the receipt, and have their money transferred to their bank accounts. Jackson said the PNG Cocoa Board was also providing solar combination dryers to farmers at Nganalaka, Bitavavar, Karavialiu, Vunapalading and Mandres.
The company plans to group farmers and to support the development of farm group managers.
“There is no shortage of the demand for cocoa,” he said.