Bank lends hand to food sellers

THE National Development Bank Investment, under its Stret Pasin Incubator program, has launched its Mealz on Wheelz mobile catering solution for operators of small catering businesses.
Bank lends hand to food sellers Bank lends hand to food sellers Bank lends hand to food sellers Bank lends hand to food sellers Bank lends hand to food sellers

Media outlets in Papua New Guinea reported that NDBI chairman Moses Liu said it would provide access for micro and small businesses to their market.

He said NDBI introduced last year the Stret Pasin Store Scheme, which was designed to provide 100% funding and training to Papua New Guineans to operate and eventually own trade stores.

"It however proved to be very difficult task because the rental shop market in all towns and centres in PNG were already saturated," he said, adding that prime commercial land was also unavailable.

"To address this problem, NDB Investment is developing a range of affordable solutions to give micro and small business access to their markets.

"One of these solutions is being launched today - the Mealz on Wheelz mobile food shop," which he said target entrepreneurs who sell cooked food.

"Now it does not matter if they can't afford to lease a haus kai to operate from. They will now be able to chart their desired location and start selling to their customers right away," he said.

NDB said that if an operator were to use the card full-time, they had the capacity to notch up sales of between K300 and K1000 a day.

Buyers of the units either have the option to purchase outright or take out a loan from NDB or the People MicroBank.


Most read Regions

  • NEW: Digital version of PNG Report magazine - View here
  • Porgera: Barrick-PNG talks go on - Read more
  • Follow the companies investing in the PNG market - Read more

Most read Regions