Series 5, Episode 7: Reinventing during Covid-19 - a chat with MiBank CEO Tony Westaway

Desperate times call for desperate measures - something that has certainly been obvious during  Covid-19 lockdowns, where a range of PNG companies have been reinventing themselves quickly in order to keep operating. 

While it's true that some new businesses have risen like a phoenix from the ashes to capitalise on new opportunities and some existing businesses completely changed their business models, there is a lesson that all businesses can take away from this period of forced innovation. 

Reinventing can be used to describe a wholesale change of direction to a business but it can also be applied across a business unit, a process or other aspects of a business that makes sense right now.

In Episode 7 of Series 5 of the #BLPpodcast, we talk to MiBank CEO, Tony Westaway about reinventing during a crisis and how MiBank is supporting MSMEs throughout Papua New Guinea. 

Chapters

• 1:43 Intro to MiBank CEO, Tony Westaway
• 3:32 MiBank's key market and how they support MSMEs
• 5:08 How have businesses, including MiBank in PNG innovated during the Covid-19 crisis?
• 8:11 Innovation & strategy within MiBank
• 10:02 MiBank's mobile wallet & how this will support MSMEs in PNG
• 12:29 MiBank's micro insurance product
• 14:45 Advice for businesses who are looking to innovate
• 17:55 How MiBank supports women and grassroots people in PNG
• 21:04 How will BLP's Finance Finder tool support MiBank's strategy within the banking sector