Kosem Ltd, a family-owned local coffee exporter from Jiwaka, is the first recipient of an Australian Government-supported concessional loan received under the ‘Revolving Fund Facility’, managed and operated by Women’s Microbank Limited (Mama Bank).
In December 2023, Kosem Ltd became the first beneficiary of this facility. Kosem now has adequate funds to buy green coffee beans, benefitting more than 2000 coffee farmers in Morobe Wau Waria district.
The Revolving Fund is an Australian government economic development project in partnership with Mama Bank that is investing PGK 3.5 million in loans to boost agriculture exports from PNG.
The Revolving Fund will provide cost-effective value-chain finance to agriculture SMEs to buy more agricultural commodities like coffee, cocoa, and vanilla from farmers.
Kosem Ltd CEO Mark Munnul said, “Access to funds is critical to the development and maintenance of supply chains, as traditionally, exporters like us bear a significant amount of pre-financing risk through the coffee season to take the coffee out from remote Morobe province.”
He urged the banks to come forward and understand the needs of exporters like him to realise the potential of the coffee sector in PNG.
Mama Bank CEO Mr Gunanidhi Das said, “Support received from Australia has helped Mama Bank develop new value chain finance products to serve the needs of agriculture SMEs.”
He also urged the agri-SMEs, particularly women-led agribusinesses, to reach out to the bank, discuss their needs, and apply for finance through this facility to improve their productivity.
Through the Australian Government supported revolving fund facility, Kosem now has adequate funds to buy green coffee beans, benefitting more than 2000 coffee farmers in Morobe Wau Waria district.
For further information, including access to related materials, please contact the Australian High Commission media team: +675 7090 0100