In 2014, MiBank entered in to an arrangement with the PNG National Fisheries Authority (NFA) to provide credit to citizens engaged in the fishing sector.
In a separate partnership with the Private Sector Development Initiative of the Asian Development Bank MiBank embarked on the Women in Fisheries project, which is aimed at empowering women in the fishing sector. Through this program, women be provided with the opportunity to access credit through NFA scheme to support their fishing business activities.
The Women in Fisheries pilot project, consists of three groups of women from Kagora Women’s Association in Hanuabada Village in Port Moresby, the Lakwaharu Women in Fishing from Tubusereia Village in Central Province, and Neknasi Women in fish farming from Boana village in Morobe Province.
Approximately 40 women from both Hanuabada and Tubusereia villages have already been certified with Financial Literacy Training skills provided by MiBank, and Business Development skills training by Ginigoada Training center and will now undergo a four week long Fish Filleting Training at Badili Vocational Center in Port Moresby.
By linking finance with technical assistance the pilot project will have two phases.
• Phase 1: MiBank through its Women’s Banking Unit will provide basic Financial Literacy which includes MiCash Mobile Banking Account opening and setting up of agents in their communities
• Phase 2: Ginigoada will provide Basic Business Development Skills Training and
Fish Filleting training at Badili Vocational Training Center
MiBank has a strong focus on women’s empowerment. It works with various partners including NGO’s and churches to extend the outreach of its services and it works at the local level to improve financial literacy for women.