AFIC operations under audit

LC Bejida providing cargo and passenger services. Photo: Caulton Bule (Yumi Toktok Stret)

By Jonas Cullwick

The operations of Apma Financial Investment Centre (AFIC) in the three provinces of Penama, Malampa and Tafea are now under audit, Barnabas Tabi, the founder of the financial service has confirmed.

Mr. Tabi explained that the audit is a normal service being carried out by the Department of Cooperatives allowed by AFIC because the business is registered under the government department.

He said the audit of the services of the financial institution in the three provinces comes following the first audit of the operation in Port Vila by the Cooperative Department that was released by the Director of the department, Ridley Joseph at the department’s trade fair at the Cooperative Federation at Man Ples in Port Vila last year.

AFIC operates as a bank, providing savings and loans facilities, and so far it has 40 branches throughout Vanuatu with an additional 12 branches in the process of opening.

“We aim to have 100 branches operating by the end of this year,” Barnabas Tabi added.

“AFIC is the first bank in the world that operates a one minute service, the quickest service to get a loan service.

“And we pay the highest interest rate in the world of five percent and a special National Interest Rate Promotion of 30%.”

Mr. Tabi said that during the whole month of April this year they will hold another national interest rate promotion for 30% and people should get their money ready to make use of this promotion.

Along with its branches around the country, AFIC also has a landing craft, the LC Bejida doing passenger and cargo services.

“We also have four boats being built – the LC Maewo, LC Ambae, LC Ambrym and LC Pentecost, that will join the shipping service of AFIC .”

The Daily Post was not able to get a confirmation from the Director of Cooperatives about the said audit work at the time of going to press.

Jonas Cullwick, a former General Manager of VBTC is now a Senior Journalist with the Daily Post. Contact: Cell # 678 5460922

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