Mayor launches credit scheme

 WEWAK town mayor Charles Malenki has taken the lead in restoring confidence in the Sepik Savings and Loans Society Ltd (SSLSL) by launching a credit scheme with the society last week.

SSLSL was forced to shut early this year due to mismanagement and became centre of public criticism but Malenki said the society belonged to people of Sepik and must be revived.

He issued the statement when presenting a cheque for K100,000 to SSLSL chief executive officer Susan Kalinau and her staff at the Wewak district council chambers.

He urged the people to forget mistakes of SSLSL past management and work with the new team to ensure the institution triumphed over its financial woes and achieve positive economic outlook. 

Malenki said the credit scheme was established to assist Wewak residents, including informal sector vendors venture into small and medium business enterprises (SMEs), so they fited in with overall urbanisation plan for Wewak town.

“I want to be clear that the scheme will not be politicised because it will be managed independently by SSLSL for the benefit of all residents of Wewak Urban LLG.

“The new district development authority (DDA) calls for self autonomy and I am proud that my LLG has achieved a milestone in terms of providing financial assistance to empower my people,” Malenki said. 

He urged those who would be borrowing money to be faithful in repaying their loans so the institution does not run into same problem it had encountered.