Women's micro bank limited

"Women's Micro Bank Limited (WMBL), branded as Mama Bank, is a licensed microbank in Papua New Guinea that focuses on empowering women and their families through accessible financial services. Established in 2010, WMBL received its banking license from the Bank of Papua New Guinea in May 2014, making it the first women's microbank in PNG and the Pacific region. The bank aims to provide basic financial services to unbanked women, particularly in rural areas, addressing the unique challenges they face in accessing formal financial resources. WMBL offers various loan products tailored to meet the needs of women entrepreneurs and low-income earners, including personal loans, business loans, and group loans. The bank operates Mama Bank Access Points (MAPs) that utilize biometric technology for secure transactions, ensuring that even those with limited literacy can access banking services. With a mission to enhance financial inclusion and support economic development among women, WMBL has grown its clientele significantly and continues to expand its reach across Papua New Guinea."

Amount

PGK 100 - PGK 50,000

Tenor

3 - 60 months

Min. approval time

24 hrs

Countries

Created on

December 2024

Last updated

December 2024