Papua New Guinea’s (PNG) renowned financial institution, Norman Finance, has officially launched its operations in the Solomons.
The company’s operation was formally introduced during a launch event held on Wednesday at the Honiara Hotel. Following its commissioning it will begin offering financial services in the capital city, for a start.
Speaking exclusively to Solomon Star News after the launch, Gabriel Andandi, owner of Norman Finance, said the company has been operating in Papua New Guinea since 2008 and currently runs 25 offices across all 22 provinces of the country.
“Our service primarily involves providing loans, especially to government employees and, to a lesser extent, the private sector,” Mr. Andandi explained.
“We usually assess applicants based on their net income. If they have a good net income, we will definitely offer them a loan. With the private sector, it’s a bit more selective because employment can be unstable, and there’s a higher risk of default.”
He added that the company also supports middle-income earners who may need urgent funds for everyday emergencies such as school fees, bride price payments, utility bills, or other sudden financial needs.
“Instead of waiting for your fortnightly pay, we can step in to support you financially,” he said.
Norman Finance’s initial plan is to establish a central office in Honiara, with a vision to expand to other provinces such as Choiseul, Shortlands, and beyond, depending on how operations progress.
“We want to make our services accessible to people, especially teachers and public servants working in remote areas,” Mr. Andandi said.
The company’s long-term goals in the Solomon Islands include:
- Supporting citizens in accessing loans to start small and medium enterprises (SMEs);
- Contributing to government revenue through tax payments;
- Increasing contributions to NASFUND;
- Expanding operations and recruiting local staff; and
- Providing educational support for children.
“In Papua New Guinea, we have supported more than 800 students by covering their school fees. We aim to extend that same support to children in the Solomon Islands,” Mr. Andandi said.
He emphasized that Norman Finance’s slogan is ‘Norman Finance for an Educated Population’, reflecting its commitment to human resource development.
“Our ultimate long-term goal is to invest in the human capital of this country,” he added.
Mr. Andandi said the decision to expand to the Solomon Islands was inspired by the close cultural, historical, and governmental ties between PNG and Solomon Islands.
“One thing that sets Norman Finance apart is our quick and simple loan processing. Unlike other institutions that require extensive documentation, we offer a faster, more accessible service,” he said.
He encouraged Solomon Islanders to take advantage of the financial services now available, noting that Norman Finance is committed to giving back to both the people and the country.
By Ian Ladds Oso
Solomon Star, Honiara
