Financial firm supporting SMEs, looking to spread services

TISA Community Finance Ltd (TCFL) will launch financial products for micro, small and medium enterprises (MSMEs) to cater for their needs, chief executive officer Ashokkumar Valechha says.
Valechha told The National that following the Government’s vision to support small businesses in the country, his firm would also partner with players in the SME sector in providing basic financial solutions to meet their needs.
“The Government, through this year’s Budget, is keen to support the micro, small medium enterprise sector to grow and, thus, TCFL intends to partner with players in the sector by providing basic financial solutions to meet business demands,” he said.
“Financial inclusion is essential for PNG as over 85 per cent of the low income population are living in rural areas and do not have access to formal financial services.
“Our policy is financial inclusion so that all the Papua New Guineans get benefits of banking and financial services.
“In this connection, we are launching branches in 17 provinces so that they get banking facilities in these 17 rural provinces.
“We are very soon launching products for micro, small and medium enterprises.
“We will cater to the needs of these customers in these 17 provinces.” When providing the company’s updates, Valechha said they launched nine branches last year: Kokopo, Madang, Kimbe, Alotau, Buka, Goroka, Wewak, Mt Hagen and Lae.
He said seven branches to be launched during this quarter were Popondetta, Kavieng, Vanimo, Kiunga, Wabag, Ialibu and Manus.
Valechha said the company would also launch its commercial loan product.