The National- Friday, January 28, 2011
By ELIZABETH VUVU
SENIOR statesman and former member for Kokopo, Sir Rabbie Namaliu is urging more local people taking initiatives to conduct business in Papua New Guinea.
Speaking during the launching of Kokopo Microfinance Ltd’s (KML) five new savings and borrow products on Wednesday, he said people had to learn to be proud of business-minded people and to change the attitude of jealousy, cutting business people down and working in isolation.
He said if Sir Brian Bell could do it and establish outlets around the country, there was no reason why PNG citizens could not do it too.
“We can do it, but we got to change attitudes that are dragging us and the country down.”
He said the Chinese community was well established in their respective businesses around East New Britain because as they worked together in partnership.
“If we work alone and destroy those people in business, we are not helping ourselves.”
He commended KML, saying its growth since 2004 had attracted experienced and prominent people to the institution.
KML, as of this month has 14,000 customer throughout ENB and New Ireland with a net deposit and loan of K9 million and loans totalling K30 million in the last six years.
Sir Rabbie said KML was recognised by the Bank of Papua New Guinea as an institution that had potential to grow and to be recognised as a proper banking institution.
While he was Kokopo MP in 2004, he had decided that K250,000 from his discretionary funds would be used to create incentives for borrowing and paying back that eventually saw KML established.