Longoteme mother wins SPBD Business Woman award [1]
Sunday, February 6, 2011 - 16:49. Updated on Wednesday, September 11, 2013 - 10:06.
A mother of nine children Ma'ata Latu (56) won a business award on Friday for establishing a small market garden using a microfinance programme on a 25% interest rate.
Ma'ata, from the village of Longoteme, took out a small loan from the South Pacific Business Development (SPBD) to set up a small vegetable garden at her home and sells her produce at Talamahu Market to help support her family. The presentation of the South Pacific Business Development Microfinance first "Business Woman of the Year Award" recognised that accomplishment.
Ma'ata received a Certificate and $500 cash from the Minister of Education Hon Dr 'Ana Taufe'ulungaki and Greg Casagrande, the SPBD Founder and President. She also won $300 pa'anga as the Best Saver.
Many SPBD Women Groups' members attended the award ceremony held at the Queen Salote Memorial Hall. Other awards given out included Outstanding Centre Chief, Outstanding Centre Secretary and Outstanding Village Centre.
SPBD
General Manager of SPBDM Lorisa Canillas said the awards were decided on by SPBD to honour their members. Twelve finalists were nominated by the field staff from 2,555 women members throughout Tongatapu and judged based on their ability on how to run small businesses such as growing vegetables and crops, making tapa and weaving, running cleaning services and canteens.
The loans company is a private owned business founded in Samoa in 2000 and started in Tonga in September 2009 offering small unsecured loans to women in villages, micro life insurance and saving accounts.
The loans to women are based on three conditions for running of small businesses, housing improvement and children's education. They provide a minimum loan of $1,000 pa'anga at interest rates of 25% per annum. The maximum loan is $5,000 with the same interest rate per annum.
SPBDM operated with women in 45 villages in Tongatapu and they are planning to launch a Microfinance Program in Vavau on February 7 targeting underprivileged women and their families with financial services.