BSP Expands - Morobe Province to have six (6) Branches

BSP Financial Group Limited (BSP) continues to expand its footprint in PNG and the Pacific and aims to have its 6th branch open in the Morobe Province before the end of 2021. “This will strengthen our physical presence in Lae through our new Eriku Branch,” said BSP Group CEO Robin Fleming while on the recent FM100 Talkback Show in May.

Morobe Province, like many parts of PNG remains a challenging area of service delivery due to its terrain, remote populace and accessibility. “A new branch will enable BSP to continue to better serve the residents and people of Morobe Province,” said Mr Fleming.

BSP currently serves more than 152,000 BSP customers through its five (5) branches (Lae Top Town, Lae Market, Lae Commercial Centre, Lae SME Centre and Bulolo Branch) three (3) Sub-Branches and 19 Agents.

BSP Group General Manager for Retail Daniel Faunt said BSP’s expansion enables BSP to continue to strengthen its relationship with larger and remote communities in provinces such as Morobe.

“Apart from delivering improved and innovative banking and payment solutions for the masses in Lae City, we continue to bring basic banking services like opening of accounts in rural areas such as Finchhaffen, registering customers for mobile banking and also establishing Cash Agents as far as Wau - Bulolo in order to continue the basic banking services in rural Morobe.”

BSP Lae Top Town team at Yambo Village after the opening of the refurbished Health Centre

“We don’t just do banking in these areas. We deliver community projects to improve the lives of those people we serve. The recent  refurbishment of  a Health Centre in Yambo village in Nawaeb District is part of the many projects we have delivered since 2009, said Mr Faunt.

For the Yambo Villagers, Sunday 23rd May, 2021, was a day of celebration in Bukawa, Nawaeb District. They braved the rain and celebrated the handover of their refurbished health centre that serves over 2,000 people from Yambo and nearby villages along the coast. This community project was delivered by the BSP Lae Top Town Branch.

This project consisting of the refurbishment of the Yambo Health Centre and installation of a solar kit was valued at K30,000.

“We mothers have been suffering for so long during child birth deliveries and other health related issues. This service will make it easier for us now. Some of us who are midwives do our jobs with no proper medical gears; we normally rely on traditional medicines and knowledge to assist pregnant mothers. Today we are fortunate and thankful to BSP for giving us this aid post,” said local women representative of Yambo village, Tuyon Owingao.

Wampar Health Centre that services Nadzab and surrounding areas recently had water supply connected to the facility and refurbishment works done by BSP Corporate Banking & BSP Finance teams in Lae. This has now assisted the health centre with the provision of a safe clean water to the clinic, the TB Ward, the Covid-19 facility and their ablution blocks.

“Financial Literacy is another service we provide to the communities that we operate in,” said Mr Faunt.

From a four-hour boat ride from Lae to Finschhafen and an additional five hours drive through the steep, slippery road to Wario village, located in the rural Kote LLG of Finschhafen District, our BSP team took on the tough terrains  to run Financial Literacy training sessions to Wamora Coffee Farmers Association members and others.

300 villagers of Wario attended the Financial Literacy sessions and 240 new bank accounts were opened for customers, a task that took long hours during the two-day visit to Wario village.

“Thank you BSP! Having a bank account is a service most of our people dreamed of accessing and you brought that right to our village. No other bank has set foot here, even a corporate business - our greatest thank you,” said Wamora Coffee Farmers Association Director, Giegere Greg Hedziga, of Wario Village.

With seven districts and an estimated population of close to one million people, Mr Faunt said Morobe Province remains one of the most challenging areas to cover with banking services – this is where BSP Agents come in to provide basic banking services. “Our customers in rural Morobe can also access our 19 BSP Agents to do their banking.”