Bank to Sell Shares to Women

Source: The National

THE Women’s Micro Bank Ltd has made 7,021,300 shares available for female entrepreneurs to buy at K1 per share until Nov 30.

Bank chairman Ricky Mitio said the share offer was only applicable to members of the Women in Business Foundation Incorporated, customers of Women’s Micro Bank Ltd and members of the Papua New Guinea Women in Business Ltd.

He said the offer was to strengthen the performance of the Women’s Micro Bank in:

  • Strengthening capital adequacy requirements set by the Bank of Papua New Guinea;
  • Expanding branch network adhering to branch licensing norms of Bank of Papua New Guinea to bring the banking services closer;
  •  Improving the technology between branches and head office for risk management and exploring electronic banking services;
  •  An opportunity for members of the Women in Business Foundation Incorporated and female clients to hold direct ownership or shareholding in the bank.
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