PNG Entrepreneur Magazine

14/11/2024

Introducing Papua New Guinea's Home Grown Rice Product, Rigo Rice Limited 🫰

Rich and Aromatic with a Traditional New Guinea Taste in Every Grain 🌾

11/09/2024

INDEPENDENCE MESSAGE BY UNITED FINANCE LIMITED

As Papua New Guinea commemorates its 48th year of independence, United Finance Limited extends its warmest congratulations to the nation and its people. This momentous occasion reminds us of the progress and unity that define our beautiful country.

Founded in 2019 in Port Moresby, United Finance Limited has swiftly grown to become a trusted and locally owned financial institution serving clients in all 22 provinces of Papua New Guinea. Our journey is a testament to the dedication and expertise of our team in the financial industry.

At United Finance Limited, we understand the economic challenges facing our nation, and we are committed to providing essential financial solutions to our clients. We offer loans with very low interest rates, empowering individuals and businesses to access the financial support they need during these demanding times.

Our expansion across the nation in just three years reflects our commitment to being a reliable partner in your financial journey. We believe in the potential of Papua New Guinea and are proud to contribute to its growth and prosperity.

We would like to take this opportunity to convey our heartfelt gratitude to our valued clients, who are hardworking staff of the Papua New Guinea Defense Force (PNGDF), the Education Department, the Royal Papua New Guinea Constabulary (RPNGC), Correctional Services Institute (CSI) partners, and others. Your trust and support have been instrumental in our success.

As we celebrate this Independence Month, let us all stand together, united by our love for Papua New Guinea. May our nation continue to prosper, and may the bonds of friendship and cooperation grow stronger each day.

05/09/2024

United Finance Limited is giving away K100,000 worth of prizes this independence, be among the winners to be lucky.

Click the link below and watch for more information on how to enter the draw and win.

INDEPENDENCE PROMOTION TOKSAWE Note: We would like to extend this promotional message to public servants around Papua New Guinea and the working class who a...

05/09/2024

04/09/2024

INDEPENDENCE PROMOTION TOKSAWE

Apply now for K3,000 loan or more and have a chance of going into the draw to win surprising free giveaways this independence by United Finance Limited.

Winners will be announced on the 17th of September 2024 at the United Finance page, FM100 page and NBC Live.

Send an email to [email protected] for more information on the promotion and how to apply for a loan.

United Finance, Your reliable partner in Finance!

03/09/2024

PUBLIC TOKSAWE
Wednesday 04th September 2024

"INDEPENDENCE GIVEAWAY WITH UNITED FINANCE"

United Finance Limited is giving away free prizes to commemorate PNG's 49th Independence Anniversary.

Prizes will be given away at our branches in Southern Region, Momase Region, Highlands Region and New Guinea Islands Region.

Apply now for a loan of K3000 or more at your Nearest United Finance office to go into the draw and win!

Lucky winners will be announced on the 17th of September live on the United Finance Limited's page, and Sunday Bulletin Online page.

United Finance, Your reliable partner in Finance

28/07/2024

There is money in the land if you decide to work hard.

Peanut and fresh vegetables supplied by people of Kagua-Erave to markets in Ialibu SHP for consumers.

Video supplied.

14/07/2024

By Entrepreneur Mathew Minape

MANAGING INFLATION AT HOME: The Tactics Of Controlled Spending

Inflation is currently affecting alot of families around the country.

With the current inflation rates, where food items especially from supermarkets have doubled or trippled within the last 5 years, no family family is given an exception to living comfortably in these trying times.

Inflation affects all players, both in the informal and formal sector.

Most businesses normally pass down the inflation impacts down to the participants of the value chains through marked-up prices - the end users or consumers of the finished products pay the the ultimate price.

While impact of inflation at the national scale is a parliamentary matter, understanding and managing inflation at individual home is everyone's business and not government's responsibility.

The government is not accountable for your personal expenditure, except yourself.

How do we, as individuals, contribute effectively to ensure the negative effects of inflation is mitigated at home?

One of the very practical and highly effective budgetary tool that be applied at home to reduce the negative influence of inflation is through CONTROLLED SPENDING.

A controlled spending is a more defined & structured form of spending that feeds around the the details of your daily expenditure. This dictated and centralized spending approach acts as a financial tracker that is used as a guide towards mapping out every toea that leaves your pocket or bank account. While it can be used as a short term measure against the current socio-economic situation, it can also help in the long run when it comes to future savings and investments.

Below are some of the key spending appetites that are reduced through the effective application of Controlled Spending:

1. Wants Or Status Buying

This type of spending is more a personal fulfillment of status rather than our necessary needs that most features gambling, borrowing, or drinking expenses. It is more to do with ego rather that survival. Such buying occurs where people buy luxury or branded items (even though they don't have the budget for that) just for social valifation and attention - e.g buying of a K200 t-shirt where that same shirt can cost you K5 at a local second hand clothing

2. Impulse Buying

The unplanned buying of unnecessary things you don't really need - e.g. buying of food items/clothes/shoes you see along the road, through street sales, or fb marketing

3. Seasonal Sales

Competing with other customers to buy items @ reduced prices - e.g Buying product/service offers duing Easter, Independence, or Christmas festive periods

4. Promotional Sales

Buying at marked-down prices during a company's clearance sales, product launching, or during any other promo sessions - e.g. introduction of new/enhanced product line, or company expansion promo

5. Membership Buying

Buying products or service through trials or subscriptions -e.g. website accessibility or content downloads

The above practices may solve our problems for a short term only, but it creates a spending addiction on a long run that influence us to spend more on our "Wants" rather than on what our budget can cater for.

Gambling, drinking and "dinau appetitte" are symptoms of our spending problems where we don't know how to carefully manage money.

We may spend most of our time blaming the government of inflation, but if we as individuals cannot account for ourselves, then we will be facing serous financial consequences when trying survive in this challenging economic times.

Inflation will always be present in the economy, but the real challenge is how we manage our spendings as individuals.

09/07/2024

LESSONS WE LEARN FROM THE WORLD MOST PROMINENT
1. Dr. Ben Carson said,
"I struggled academically throughout elementary school yet became the best Neurosurgeon in the World in 1987"
*LESSON* : Struggling is a sign that you are on a verge of success. Don't quit yet.
2. Oprah Winfrey said, " I was r***d at the age of 9 yet I am one of the most influential women in the World"
*LESSON* : Don't let your past decide your future.
3. Bill Gate said, "I didn't even complete my university education but became the World's richest man"
*LESSON* :
School does not make you rich. School is only suppose to Polish what will make you rich, not make you Rich.
4. Joyce Meyer said & I quote, "I was sexually, mentally, emotionally and verbally abused by my father as far back as I can remember, until I left home at the age of eighteen, yet I am one of the most influential preachers in the World"
*LESSON* :
Let your past push you, not define or limit you
5. Christian Ronaldo said, "I told my father that we would be very rich but he couldn't believe me. I made it a reality"
*LESSON* :
Your words rule your life. If you mean what you have said, each word will come to pass. You get what you say.
6. Hear Lionel Messi!, "I used to serve tea at a shop to support my football training and still became one of the World's best footballers"
*LESSON* :
Believe in your dream. Don't let your pain tell you how your future will look like.
7. Steve Jobs penned, "I used to sleep on the floor in my friends' rooms, returning Coke bottles for food, money, and getting weekly free meals at a local temple, I later on founded Apple Company"
*LESSON* :
That you are small today doesn't mean you will be small tomorrow. Keep trusting God.
8. Former British PM, Tony Blair said & I quote, "My teachers used to call me a failure, but I became a Prime Minister"
*LESSON* :
Don't let someone's else's opinions of you become your reality.

GOD BLESS..

08/07/2024

In the heart of Papua New Guinea, United Finance Limited stands as a beacon of hope and empowerment. Locally owned and operated, with branches in all centers across the country, United Finance Limited has made significant strides in the financial lending sector.

In an interview with the Sunday Bulletin Newspaper, the company’s digital marketing executive Miss Janet Thomas made significant highlights about United Finance Limited’s services, mission, vision and the role it plays in the financial aspect of local Papua New Guineans, since its inception in 2019.

Click the link below and read full story:
https://thepngbulletin.com/.../empowering-papua-new-guinea/

08/07/2024

Business Feature for this week is United Finance Limited.
Read the full story below!

24/06/2024

Rigo Rice Project Secures Government Support

In a major development, the Rigo Rice Farm project has received government support, with a ceremony marking the expansion of the farm in the Central Province.

The project aims to improve agricultural development in Papua New Guinea, focusing on food security and self-sufficiency through the cultivation of rice.

According to Jeffery Kennedy, Managing Director of Rigo Rice Ltd., the project will introduce advanced Japanese agricultural technologies to conduct large-scale rice cultivation, producing high-quality rice.

“This initiative will stabilize the country’s food supply, increase incomes, revitalize the rural economy, and create numerous employment opportunities,” he said.

The government has provided a cheque of K20 million to support the project, which is expected to achieve key targets set out in the government’s Medium Term Development Plan IV.

The Rigo District Development Authority has also provided a cheque of K4.4 million for infrastructure development, including road access and irrigation systems.

Ambassador of Japan to PNG, His Excellency Nobuyuki Watanabe, expressed gratitude for the government’s support in enabling this collaboration.

“This project illustrates international cooperation with Japanese experts assisting local farmers,” he said.

Minister for National Planning and Member for Rigo, Hon. Sir Ano Pala, acknowledged the entrepreneurship and determination of the Rigo Rice management team.

“I am confident that this project will create numerous opportunities for knowledge transfer and capacity building,” he said.

The Japan International Cooperation Agency (JICA) will also send Japanese volunteers to support marketing of Rigo Rice at post-harvest.

The project is expected to be a major boost for the country’s agricultural sector, with potential benefits for food security and economic growth.

“I am confident that this project will create numerous opportunities for knowledge transfer and capacity building. Japanese experts will work closely with local farmers, providing training and sharing best practices to ensure the long-term success of the farm,” Sir Pala said.

Sir Pala was accompanied by the National Planning and Monitoring Secretary Koney Samuel to present the cheque.

Source: https://info.gov.pg/rigo-rice-project-secures-government-support/

24/06/2024

TIPS ON HOW TO USE JUST A K100 GET A SME LOAN 📌
Source: Marcella Bongs

Do you always wonder why when you go to any bank and request for a SME loan and they will ask for your business account?
The foremost important thing for the banks is to see if your business account is financially healthy. They want to see if you do consistent banking.

Many times the loan officers will say" luk olsem account blo yu sowim yu no sa wokim business". This doesn't mean that you never had any business at all. It simply means that you haven't done deposits with your business proceeds.
Here are some tips on how you can do it. Lets pretend that you have a K100 for you buai and smoke sale.

1. Firstly has is the requirement, you must open a business account. Register with IPA, get TIN and open the business account.

2. Once you open the business account, you must start doing deposits from your small business you Started. SAPOS KISIM K100 LO 1 DAY NA K100 YOU HOLIM, GO DEPOSIT THE K100 LO EARLY MORNING.

3. Right after you deposit the K100 in the account, go out of the bank the same minute or hour and withdraw the K100 in the ATM again and buy your goods to sell. Even you can withdraw right away from the counter after you deposit.

4. Do your sales from the morning till night. At around 9am, go to the bank again and deposit the takings in the bank. then walk out to an ATM again, withdraw and go buy your Goods again.

5. If you have a trade store, deposit all the cash and go to the wholesale you used to buy your stocks and use the card in the eftpos and purchase the items and stocks you need.

6. Next Morning, do the same thing by repeating the Steps 3 and step 4 for a period of over 6 months to a year.
Why will you deposit the same K100 over and over again?

The Simple reason is to create cashflow. If the K100 is deposited 10x in a month, the cashflow in the bank will show that you have deposited K1000 in a month (K100 x10 =K1000) . Imagine in a year, it will be K12000 (K1000 x 12 months = K12000).

Always remember that its not how much money in the bank account that accumulates for the cashflow in a year. Its how many times that you did your deposits in a month that generates the monthly cashflow and eventually a yearly cashflow.

SO A SIMPLE BUAI SELLER WHO COMMITS HIMSELF/ HERSELF IN DOING THE DEPOSITS REGULARLY WILL ALREADY BE ELIGIBLE FOR A SME LOAN OF UP TO K5000 TO K10000.

The above informations are somethings that the banks don't want you to know!

GOOD LUCK TO ALL THE ASPIRING SME BUSINESS OWNERS!


SME money is rightfully ours.Share ideas and let’s support each other.Not for the government to cheat us

24/06/2024

RIGO RICE ADVANCES INTO COMMERCIAL FARMING
Reports and Pictures By JOEL K ANDREW

Local PNG-owned rice production company, Rigo Rice Limited has advanced into commercial farming.

This was made known following a small but significant ground-breaking ceremony held at their farm site in Rigo District, Central Province, on Thursday May 30th.

An additional 6000 hectares of land were granted to the company to increase the ploughing fields on the farm. Rigo rice has transitioned from its humble beginnings into a commercial rice farm and has increased its production in tone per hectares over the last six months.

Additionally, several new machines were added to their farm fleet, which will be used for irrigation, planting, harvesting and other general purposes in the farm.

Minister for National Planning and member for Rigo Hon. Sir Ano Pala was present along with the department secretary Koni Samuel, as well as stake holders, sponsors and the Rigo Rice’s managing director Jeffery Kennedy, to officiate this milestone achievement for the company.

Department of National Planning gave K20 million, and Rigo District Development Authority co-funded the project with additional K4.4 million during the launching, which was received by Mr Kennedy and his company secretary.

Sir Ano stated that Rigo Rice is an example showing PNG that significant achievements are possible, given that large portion of lands in the country are customary.

“Large scale agriculture can feed the entire South East Asian Region if we make timely investments of money into commercializing the agriculture sector in the country,” Sir Ano said.

He emphasized the importance of commercialising agriculture in PNG.

“This nation is resourceful but once the natural resources run out, agriculture can become the major revenue generating sector for the country,” Sir Ano said.

MD Mr Kennedy applauded Sir Ano for believing in his business ethic from the beginning.

Mr. Kennedy extended his appreciation to the people of Rigo for working in close collaboration in the past five years till now.
“The expansion of the rice fields through the additional land acquired and the adding of agricultural machineries to the farm signifies that we have already advanced into large scale commercial farming,” Mr. Kennedy added.