BSP reaffirms support for SME growth

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Supa V Stoa Launch_111013_Tim Vaieke_02

Small to Medium size enterprises is a vital part of a growing economy.  And the help of corporate partners is supporting these enterprises is essential.  Last year, Bank South Pacific in partnership with Super Value Stoa kick started an unique program aimed at realising the potential of small to medium size enterprises.  Below is the story we published here on Skerah and we hope more of these kind of stories are published this year.

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Two Motuans are proud recipients of new Supa V Stoa’s thanks to Super Values Stores.

Supa V Stoa containers are general merchandise goods at this stage. Bakery, Freezer goods, Didiman store and Fast Food in the pipeline for 2014.

As Supa V Stoa owners, they are also BSP Agents. The two  Frank Toua and Tim Vaieke. They are the first two of 17 to receive Supa V Stoa in the Motu-Koitabu area under a K1 million funding arrangement by NCD Governor Powes Parkop.

BSP Group Chief Executive Officer Robin Fleming when speaking at the launch of the first Supa V Stoa, operated by Frank Toua at Hanuabada, said Agents will benefit fully from BSP’s Smart Business Package.

Under BSP’s partnership with SVS, Supa V Stoa operators will benefit from:

  • Smart Business Package, including Smart Loan.
  • Incentives for BSP Agents
  • Financial Training
  • Agents have access to BSP Premium Banking Centres.
  • Access Electronic Banking solutions Mobile and Internet Banking, EFTPoS.

“As a BSP Agent, Frank will benefit from BSP’s Smart Business package, electronic banking solutions, but more importantly assist in delivering BSP’s banking solutions right at the heart of communities where they are”, said Mr Fleming

“Other Supa V Stoa operators have also undergone financial training to assist them in better managing their finances, something which is critical to the growth of their operations”, he added.

Despite being in different industries, the Supa V Stoa project presents a significant opportunity for both BSP and SVS to significantly benefit Rural Papua New Guinean communities.

By creating  a small business and  driving  additional  revenue as a BSP  Agent, these  operators  will be able to  build  something  while also serving their communities  with essential goods and financial services.

The Supa V Stoas will provide 3,000 new access points for BSP customers in addition to the 15,000+ existing points of access; a feat that is unmatched by other financial institutions.

BSP is committed to working together with SVS in ensuring the success of Supa V Stoas.

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