Gulf gives K1million bond to BSP

Date: Monday July 15th, 2013

Work on BSP Rural Kerema branch will start soon following the payment of K1million security bond to the bank by the Gulf Provincial Government.

BSP Gulf Signing

Gulf Governor Havila Kavo and Provincial Administrator Marc Avai presented the security bond to BSP Deputy GCEO & GCFO Johnson Kalo.

"This K1million security bond is an indication of our commitment to have banking services return to Kerema," said Governor Kavo.

"The Provincial Government and Administration are committed to ensuring that BSP has the confidence in operating in the province following an absence of essential banking services".

"Gulf Province will be a major economic hub in the next few years, and it is timely for BSP to return as it will encourage participation by my people in development," Governor Kavo added.

The payment of the Security Bond Fee follows an agreement to allow BSP to return to the Province. Under the agreement, complementing the Rural Branch, Agents will also be set up in the surrounding Districts. The bank will also rollout its Mobile Banking solution and have teams visit communities to sign up customers.                                                                                        


Caption: Governor Kavo signs the dummy cheque as (l-r) BSP Deputy GM Retail Banking Kili Tambua, Gulf Administrator Marc Avai and BSP Deputy GCEO/GCFO Johnson Kalo looks on.