Wasa Finance

02/02/2025

Venture Capital (VC) Companies.

VC em wanem samting?

Yes, mi ken explain long Tok Pisin! 😊

**Venture Capital Companies** em ol kompani save givim **moni** long ol liklik bisnis (startups) we ig*t bikpela posibiloti long gro na kamap strong long future. Ol Venture Capital (VC) Companies save wok olsem:

# # # 1. **Painim Gutpela Bisnis**
- Ol VC save lukluk long ol liklik bisnis we ig*t gutpela **idea** na **potensol** long mekim bikpela pei long future.
- Ol save checkim **bisnis plan**, **tim**, na **maket** bilong bisnis.

# # # 2. **Givim Moni**
- Sapos ol VC laikim bisnis, ol save givim moni long helpim bisnis long gro.
- Long return, ol VC kisim **share** (hap) bilong bisnis. Displa mean ol VC bai kisim profit sapos bisnis kamap gut.

# # # 3. **Helpim Bisnis**
- Ol VC no save givim moni tasol. Ol save helpim long ol **advice**, **netwok**, na **expertise** bilong mekim bisnis i go strong.
- Ol save joinim long ol **meeting** na givim ol **strategy** long mekim bisnis i kamap bikpela.

# # # 4. **Exit Strategy**
- Ol VC save wet long bisnis long kamap bikpela na strong.
- Long wanem taim bisnes kamap bikpela, ol VC save salim ol shares bilong ol na kisim bikpela profit. Displa save kamap long **IPO** (bisnes igo long stock market) o **sale** bilong bisnes long narapela kompani.

# # # Example:
Sapos yu g*t liklik bisnis na yu laik gro, yu ken tokim VC long givim moni long yu. Ol VC bai helpim yu long gro na long wanem taim bisnes bilong yu kamap bikpela, ol bai kisim profit bilong ol.

**Tok Pisin Summary:**
VC Companies em ol save givim moni long helpim liklik bisnis long gro. Ol save kisim hap bilong bisnes (equity or share in the business) na helpim long ol rot bilong mekim bisnes i kamap bikpela. Long wanem taim bisnes kamap bikpela, ol VC kisim profit bilong ol na usim gen lo invest o helpim narapla business lo country.
...ol VC i no wankain olsem ol bank ...oporesen blo ol narakain. Ating government blo PNG mas lukluk lo displa rot blo business next 50 yiar igo.

N.B - yu free lo sharim displa toktok wantaim ol frens blo u so ol MPs blo mipla lo PNG ken lukluk lo displa rot lo next 50 yiar.

Picture: Mangi lo ples, owner!

01/02/2025

Mama Bank, formally known as the **Women’s Micro Bank Limited**, is a unique financial institution in Papua New Guinea (PNG) that focuses on providing financial services to women, particularly those running small and medium-sized enterprises (SMEs). It is the first and only bank in PNG dedicated to empowering women through financial inclusion. Here’s how Mama Bank helps women SMEs in PNG:

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# # # 1. **Access to Microfinance Services**
- Mama Bank provides microloans to women entrepreneurs who may not qualify for traditional bank loans due to lack of collateral or formal credit history.
- These loans are tailored to meet the needs of small businesses, such as market vendors, artisans, and farmers.

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# # # 2. **Financial Literacy Training**
- The bank offers financial education programs to help women understand basic financial concepts, such as budgeting, saving, and managing debt.
- This training empowers women to make informed decisions about their businesses and personal finances.

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# # # 3. **Savings Accounts for Women**
- Mama Bank encourages women to save by offering accessible savings accounts with low minimum deposit requirements.
- Savings help women build financial security and provide a cushion for business investments or emergencies.

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# # # 4. **Low-Interest Loans**
- The bank provides loans at competitive interest rates, which are often lower than those offered by informal lenders or loan sharks.
- This makes it easier for women SMEs to access affordable credit for business expansion or working capital.

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# # # 5. **Focus on Rural and Underserved Areas**
- Mama Bank has a strong presence in rural and remote areas of PNG, where access to formal financial services is limited.
- By reaching out to these communities, the bank ensures that women in underserved regions can also benefit from financial services.

01/02/2025

When considering financial topics relevant to small to medium-sized enterprises (SMEs) in Papua New Guinea (PNG), it's important to focus on issues that address the unique challenges and opportunities in the local context. Here are some of the best financial topics to write about:

# # # 1. **Access to Financing for SMEs in PNG**
- Explore the challenges SMEs face in securing loans or investment, including high interest rates, lack of collateral, and limited financial literacy.
- Discuss alternative financing options such as microfinance, crowdfunding, or government grants.

# # # 2. **Financial Literacy and Management for SMEs**
- Highlight the importance of financial literacy for business owners in PNG.
- Provide practical tips on budgeting, cash flow management, and financial planning tailored to PNG's business environment.

# # # 3. **Impact of Foreign Exchange Fluctuations on SMEs**
- Analyze how currency volatility affects SMEs, especially those involved in import/export businesses.
- Suggest strategies for hedging against foreign exchange risks.

# # # 4. **Digital Payment Solutions and Financial Inclusion**
- Discuss the rise of mobile banking and digital payment platforms in PNG and how SMEs can leverage these tools to improve efficiency and reach new customers.
- Explore barriers to adoption and potential solutions.

# # # 5. **Taxation and Compliance for SMEs**
- Explain the tax oblig*tions for SMEs in PNG, including GST, income tax, and payroll taxes.
- Provide guidance on how to navig*te compliance requirements and avoid penalties.

# # # 6. **Sustainable Financing for SMEs in PNG**
- Discuss the role of green financing and sustainable business practices in PNG's growing economy.
- Highlight opportunities for SMEs to access funding for environmentally friendly projects.

02/01/2025

'Come and Bank to the beat of the Kundu Drum' (BSP). This was what I said in front of the old Habib Bank of Fiji at Central Suva in 2006 which has now been converted into a BSP Fiji iconic building there.

So now, the BSP Fiji business is a separate entity from BSP PNG, where it all started. The kundu drum sound is load in the Pacific Financial side of life.

BSP Financial Group has converted its Fiji branch operations to a wholly owned subsidiary, BSP Financial Group (Fiji) Pte Limited, effective as of yes

01/01/2025

Life is hard, but believing it should be easy, makes it even harder.

When we own up to our problems, we place ourselves in a better position to find solutions or solve our problems.

However, when we blame others, we give them control over the problem - and, by extension, our lives too.

We can do so much better if we view challenges differently:

Lack of money is often a result of, a lack of skills, lack of financial intelligence or mismanagement of resources.

In my experience, getting to the root of an issue often involves asking “why” a multiple times.

Sometimes, the first “why” reveals the root cause of the problem.

Picture this: Two poor individuals:

1. The first individual says, “I'm poor.” He owns up to his situation and asks:

Why?
“I don't have skills.”

Why?
“I took bad financial decisions.”

Why?
“I mismanaged the resources I had.”

This introspection positions him to seek knowledge and make changes to avoid similar circumstances in the future.

2. The second individual blames others for his poverty. When asked:

Why?
“It's the government, the village people, or the uncle who refused to finance my business.”

Why?
“I can't really say.”

The second person is not in a position to fix his life because he shifts responsibility to external factors.

As you can see, taking ownership of one's problems fosters growth and progress, while blaming others leads to stagnation.

We (PNG Populace) must believe in the growth potential that comes to us as individuals from taking responsibility for our circumstances or situations.

This is perhaps our message to you our fb friends for 2025 as you set your journey for the year.

HAPPY NEW YEAR 2025 TO YOU ALL. Cheer's to YOUS!

17/08/2024

It's A BIG Lie..hear hear hear! If you are an SME owner or to be Entrepreneur.

People Don't Buy What They Need. People Actually Buy What They WANT.

Until You Can Make People WANT What You Sell, Your Business Will Very Likely Struggle To Make Sales And Turn You A Profit.

Buying is a WANTING process. So you need to create that wanting desire for what you are selling.

There are four (4) ways you can use to make people want what you're selling and buy and to keep them loyal to your SME (business).

1. What are you sell?
* the product or service your offering must be appealing, standout, quality, customer service perfect or pricing offer perfect etc

2. How you sell?
* Logic, have emotions attached and tie in urgency (scarcity, limited offer etc.)

3. Where you sell?
* Location, convenience, accessibility etc.

4. Who is selling it?
* the shop assistant must be smart, clean and presentable. The security guard must be professional (nog*t ples type attitude), store or office must be clean etc. Personal branding is becoming popular now as opposed to corporate branding of the past where business owners hide behind the scene. People want to get attached to the owner of businesses. You see this featured this days.

Yeah...so when you crafting your mechanics to sell a product or service, do consider the 4 pointers above to creating a wanting desire from the buyer or customer to buy from you.

Remember: Buying is a wanting process so you must create it.

Hope you got value.

Blessed weekend to yah ALL.

16/08/2024

Where competence and character (CC) beats Curriculum Vitae (CV).

TODAY, a household name in the Minamb village of Enga province Andrew Andup who never went to school, never sat on a desk, never heard the voice of a teacher. But that doesn’t matter.

06/08/2024

SALARY MAY STOP TOMORROW

Robert Mugabe once Said ...

"When your salary comes in time, you eat chicken. As the salary reduces you eat products of Chicken (Eggs) and subsequently, you begin to eat chicken's foods like maize and millet.

Finally, when salary is finished, you become chicken itself,🙄 spending your time walking around just looking for what to eat"!

Your salary is a seed that needs to be planted. It's important you take part of it and invest.

Salary alone cannot solve all your money problems. Create a plan B now.

A wise investment will provide opportunities for one to always eat Chicken whenever he or she pleases!

Think INVESTMENT... because you won't be young forever!

Think Entrepreneurship because you won't be employed forever!

18/07/2024

Have time to enjoy life too besides your hectic work commitments. Your emotional health is important.

Oh! Yeah... and it's Friday again, so chill out wisely, do not empty too much out of your pocket on the river side of life. Do not forget, you have tomorrow to feed yourself.

18/07/2024

Let's get more billionaire tourists into PNG. They bring in attractions and see opportunities that we do not see we have around us within our environment.
Well done, Bougainville!

ONE of the youngest billionaires in the world has visited Bougainville, walking in the footsteps of his grandfather who fought in Bougainville in the battle of Hill 700 in World War II.

23/01/2024

Let the truth be told.

Have you ever wondered after almost 49 years of political independence with a lot of mining projects operating in the country (PNG) and we still struggling to build our economy to levels where we are able to sustain our basic daily survival requirements or needs (micro-macro)?

We have been slaved by this British Colonial Westminster System (British Empire) embedded in the "Concession Law" that comes with it.

Time is ripe now for our government to change laws so we inherit the
Production Sharing Agreement Law approach to be able to better benefit from our natural resources as opposed to the current concession system we are using.

We are resource owners so by default, we should be given free shares in our resource projects to benefit from them then borrowing to buy what we own (own).

This concession law is a bull crap.

Look North Policy needs to be given a breathing space in our economy to see massive transformation in the country or we will dream for another 50 years with nothing to show for.

'Insanity' is doing the same thing over and over again expecting or dreaming a different result. Do we realize this has been what we have been doing?

Time to act GoPNG.

Over the many years, we have blamed our governments for steering our country off economic independence radar but really whoever is in the captaincy, you still get hijacked by this British Concession Laws we have inherited in major resource projects we embark upon leaving us with more economic struggles.

Can someone agree with us on the matter here?

08/12/2023

It all starts from YOU!