New MiBank agency aims to promote income-generation

Business

A new MiBank Super Agency was opened in Namatanai, New Ireland, last December.
In a statement, the company said following a feasibility study undertaken by the Centre for Excellence in Financial Inclusion (CEFI), a MiBank team proceeded to Namatanai late last year, to set up and train a network of MiCash mobile money agents which included a “super agent” established in Namatanai.
“The vision is to establish a digital payment eco-system for Namatanai district,” it said.
“A major strategy in achieving this objective is to open accounts targeting farmers with emphasis on women farmers and entrepreneurs.
“This is to ensure that all farm proceeds sold at the buying points in Namatanai are paid directly into mobile wallets, which farmers can then easily access for shopping at local trade stores.”
Other activities which MiBank would be associated with include expansion of microfinance services to promote income-generation activities in the district.
This will require identification of potential village-based commercial and agricultural projects in the Namatanai district, with assistance from district and provincial divisions of commerce, agriculture and fisheries sectors.
MiBank is committed to providing easily-accessible and affordable financial services with a view to assisting in improving the socio-economic lifestyle of the people living in Namatanai district through instant payment processes. MiBank extends its outreach through the medium of digital financial services. Its core product offering is the MiCash Mobile wallet, which is a bank account on the mobile phone. The MiBank agency was an initiative of the Namatanai Walter MP Schnaubelt and the Namatanai district development authority.

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