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BSP commissions first Agent on Manam

Friday, July 14, 2023

Manam Islanders in Madang Province will now save a K100 round trip to Madang Town to access banking services following the commissioning of its first BSP Cash Agent early this week.

BSP Financial Group Limited through its Agency Banking Network extends its banking services to remote areas through existing small businesses that offers Cash Deposits, Withdrawals, Funds Transfers, and Loan Repayments.

On Monday 10th July, 2023, BSP Commissioned its first Agent in Baliau Village on Manam Island located off the coast of Madang. BSP Madang Branch Manager Mary Koi said accessing banking services involved traveling up to 4 hours to BSP Madang.

“That will now be a thing of the past, with the commissioning of a BSP Agent on the island.  BSP is proud to expand its network of Agents, bringing banking services closer to communities that were previously underserved. The commissioning of the Manam Anua Enterprise Limited as a BSP Agent on Manam Island marks a significant milestone in our commitment to providing accessible and convenient banking services to all Papua New Guineans.”

BSP Madang Branch staff open Customer Accounts on Baliau Village after conducting Financial Literacy Training to over 500 participants in the community.

“Our Madang Branch Team went a step further and conducted Financial Literacy Training to over 500 participants not only from Baliau Village but other neighbouring villagers on Manam island. We also assisted open new customers open a BSP Account, process card replacements and register for Mobile Banking. We are proud to be the only bank servicing these remote communities. Our team will have processed over 500 applications by the time we wrap up our offsite banking services on Saturday 15th July, 2023. Our Agent on the island - Anua Enterprise Limited will continue to offer customers Cash Deposits, Withdrawals, Funds Transfers, and Loan Repayment services,” Mrs Koi added.

Manam Community Representative Michael Rupunai expressed his community’s gratitude to BSP and said the Agent will save customers an estimated K100 in travel expenses that they would otherwise incur when accessing banking services in Madang.

Rupunai also acknowledged the collaborative partnership between Digicel PNG and The NID Office in assisting customers with the registration of their mobile SIM cards and National Identification Cards. “Their collaboration with BSP ensures a comprehensive and seamless experience for customers, further enhancing the accessibility and convenience of banking services in the region.”

BSP Banking Agency Manager Stanley Seimoni said BSP recognises the importance of providing banking services to all individuals, regardless of their geographical location and the launch of the BSP Agent on Manam Island is part of BSP's commitment to financial inclusion and reaching underserved communities. With this new Agent, Manam Islanders can now enjoy the convenience of accessing banking services right in their own community.

Going where no other banks go. BSP Madang Branch team on arrival at Baliau Village on Manam Island.

“To ensure a seamless experience when using the Agent service, customers are required to have their mobile phone numbers registered in order to receive One-Time Passwords (OTP) for transaction facilitation. Additionally, customers have the option to bring their Kundu card if they wish to withdraw cash from the EFTPoS Terminal. These measures are in place to enhance security and provide customers with convenient and secure access to banking services through the agent network.

In addition to the Manam Island Agent, BSP has eight (8) other operational Agents in Madang. These Agents, include;

  1. Barasi Cash Agent at Divine Word University,
  2. Berakah Agri Trading at Malala High School (Bogia Station),
  3. Biabi Cash Agent on Karkar Island,
  4. Madang Energy Distributors in Madang Town,
  5. Migima Trading Cash Agent at Torokina Estate in Madang Town,
  6. Rait Kona Solutions Cash Agent in Potsdam Carecentre in Bogia Station, and
  7. Sauto Trading Cash Agent at Raikos District. 

BSP has 266 active Cash Agents around the country.