Month: December 2024

CEFI & Saver.Global Unite to Drive Financial Literacy across Papua New Guinea

Post author By Leslie Omaro
Post date December 17, 2024
No Comments on CEFI & Saver.Global Unite to Drive Financial Literacy across Papua New Guinea

The Centre for Excellence in Financial Inclusion (CEFI) and Saver.Global are proud to announce their collaboration to enhance financial literacy and inclusion in Papua New Guinea (PNG) through innovative digital tools and localized training initiatives.

CEFI, PNG’s premier organization for financial literacy support and services, is dedicated to empowering individuals and communities with essential financial knowledge. Its initiatives span partnerships with government agencies, banks, and microfinance institutions, as well as delivering targeted in-person training and workshops.

Saver.Global is a leader in digital financial education, known for its SaverLearning platform—a comprehensive app that provides engaging, multilingual courses on budgeting, banking, remittances, and cybersecurity. Heading into 2025, Saver.Global is expanding its platform to include more contextualised courses, tailored to the unique financial and digital literacy needs of diverse communities.

A Collaborative Vision

This partnership combines CEFI’s deep-rooted expertise in financial literacy delivery with Saver.Global’s cutting-edge digital solutions. Together, they aim to deliver impactful financial literacy training to individuals and businesses across PNG.

Key aspects of the collaboration include:

Creation of Financial Literacy Courses
Localised Training: CEFI will integrate these digital resources into its workshops and in-person training programs, ensuring the content resonates with PNG’s diverse population.
Capacity Building: The organizations are implementing Training of Trainers (TOT) programs to equip educators and facilitators with the skills needed to deliver impactful financial literacy sessions.
Youth and Schools: A joint initiative with the PNG Department of Education will incorporate SaverLearning courses into school curricula, preparing students for the digital financial landscape.

New Courses to Tackle Emerging Challenges

Saver.Global’s upcoming courses, set to launch in 2025, will address critical topics in the modern financial ecosystem:

“Financial Cybersecurity”: This course guides users through safe navigation of the digital financial world, covering mobile money ecosystems, secure service usage, and safeguarding personal information.
“Safe Surfing”: Focused on scam prevention and online safety, this course helps users understand the risks of sharing personal data and how to protect themselves online.

Expanding Impact Through Partnerships

CEFI will leverage its established network to promote SaverLearning across PNG, collaborating with banks, microfinance institutions, and corporate partners. Together, CEFI and Saver.Global aim to make financial literacy tools available to a wide range of stakeholders, from individuals and small businesses to government agencies.

Quote from Saver.Global Founder, Mr. Jon Capal:

“This collaboration represents a significant step forward in bridging the gap between financial knowledge and accessibility. By combining CEFI’s on-the-ground expertise with our digital innovations, we’re not just teaching financial literacy—we’re building a culture of empowerment that equips individuals to thrive in today’s digital economy.”

Quote from CEFI Executive Director, Mr. Saliya Ranasinghe:

Partnership between CEFI & Save Global denotes a new chapter in financial literacy in PNG that combine knowledge, expertise and technological innovations to reach wider audience efficiency and effectively. Will promote the participants to be part of the digital revolution in country and empower them with the new skill set.

With this partnership, CEFI and Saver.Global are setting a new standard for financial education, ensuring that communities in PNG have the knowledge and tools they need to succeed in a rapidly evolving financial landscape.

Ends

For further information on the work of CEFI please contact CEFI Communications Team: +675 3225300, email: lomaro@thecefi.org or visit www.thecefi.org

Captions:

Image 1: Saver.Global Founder Mr. Jon Capal.

Image 2: CEFI Executive Director Mr. Saliya Ranasinghe

Partners Corner

Mi Banks’ – MiPortal enhancing accessibility and convenience

Post author By Leslie Omaro
Post date December 9, 2024
No Comments on Mi Banks’ – MiPortal enhancing accessibility and convenience

MiBank recently won the Financial Inclusion Innovation award at the Financial Inclusion Excellence Awards hosted by CEFI on November 22.

MiBank along with Women’s Micro Bank were announced joint winner’s in this category for their respective efforts in introducing new products to improve digital banking service especially in the micro banking sector.

For MiBank their winning entry submission was the ‘MiPortal: Bridging the Gap in Financial Transactions’.

According to their mission statement MiBank is committed to empowering their customers with seamless, secure, and innovative banking solutions. Through MiPortal, they strive to enhance financial accessibility and convenience by providing a comprehensive platform for efficient transactions, fostering financial literacy, and supporting the growth of our community. Their mission is to deliver exceptional service with integrity and transparency, ensuring that every interaction enriches the financial well-being of our customers and drives economic progress.

MiPortal: Bridging the Gap in Financial Transactions

MiPortal is a vital solution that connects businesses and customers through seamless, secure, and efficient transaction processing. By prioritizing user experience and leveraging innovative technology, MiPortal empowers users—from small businesses to individual consumers—to manage their financial interactions with confidence and ease.

More than just a transactional platform, MiPortal serves as a partner in financial success, dedicated to simplifying processes, streamlining operations, and fostering a brighter financial future for all.

MiBank is committed to promoting financial inclusion for underserved communities. Here’s how MiPortal has made a diﬀerence:

Micro Pension Support: MiBank empowers micro pensioners by enabling them to create and transfer voluntary savings to Eda Supa at Nasfund superannuation This initiative helps individuals build financial security for their future.
Consumer Bill Payments: Their platform oﬀers bill payment services for PNG Power Limited customers during an amnesty period. This is particularly beneficial for clients in rural and settlement areas, making it easier for them to manage their finances and stay
Child Nutrition Program Support: In partnership with Department FOR Community Development and Religion (DFCDR) PNG, MiBank’s facilitate the distribution of allowances through a child nutrition program. This initiative alleviates financial pressures on families while supporting the health and well-being of their

Through these targeted services, MiBank is committed to breaking down barriers to financial access and ensuring that everyone can participate in the financial system.

Features of MiPortal

Customer Registration and Account Management
- Secure account validation and access controls
Data Import and Export Capabilities
- Easy import/export of customer and transaction data
- Integration with existing client systems
  - Customized Alerts and Notifications
    - Real-time alerts for transactions, payments, and account activities
    - Tailored notifications based on client preferences
  - Comprehensive Reporting Tools
    - Customizable reports on transactions, payments, and account activities
  - Intuitive Dashboard
    - User-friendly interface with real-time data overview
    - Visual summaries of transactions, payments, and account balances
  - Payment Processing and Tracking
    - Secure processing of various types of transactions
    - Real-time tracking tools for payment status
  - Multi-Channel Fund Transfer Capabilities
    - Supports fund transfers, bill payments, airtime, and contributions
    - Enables payments to and from corporate accounts
  - Secure Transaction Management
    - Encryption and fraud detection measures
    - Ensures data and financial asset protection
  - Client-Specific Customization
    - Tailored functionalities for diﬀerent industries
    - Supports specific workﬂows (E.g. utility bill payments, superannuation contributions)
  - Advanced User Access Controls
    - Flexible user management for diﬀerent organizational roles User Access Control Points
  MiPortal can be accessed from any devise – Smart phones/ Tablets / Desktops Competitive Advantages of Our Corporate Banking Portal
  - Specific Solution/ Flexibility and Customization
    - Tailored features for superannuation funds and utility
    - Enables direct customer payments and efficient handling of
    - Adapts to diverse industry
  - All-in-One Platform
    - Combines multiple functionalities (fund transfers, bill payments, data management) in one
  - Compatibility
    - Reduces administrative burden and operational costs, demonstrates increased efficiency
  - First-Mover Advantage
    - The only portal with these specialized features in the
    - Positions us as an innovator and leader in digital banking
  Customer Testimonials and Success Stories
  
  In Partnership with PNG Power Limited (PPL) using MiPortal, has had an impact on customers making payments and registering real time. Customer does not have to wait for PPL to register to make payments. Through MiPortal, PPL customers are given their Customer Consumer Number instantly which is used to purchase or make payments through MiBank Mobile Banking.
  
  Image Captions

Impact Stories

Award highlight of Lilly’s advocacy work for Financial Inclusion

Post author By Leslie Omaro
Post date December 9, 2024
No Comments on Award highlight of Lilly’s advocacy work for Financial Inclusion

Financial Inclusion Advocate winner Ms. Lilly Namunu was lost for words when she was announced the winner at the inaugural Excellence Awards hosted by CEFI on November 22, 2024.

“Honestly, I was speechless and shared tears of joy when it was announced. All the love and positivity generated from my pain experience, to advocate for financial Inclusion has been rewarded,” said Lilly when recalling the moment her name was called out as the winner.

Ms. Numunu is the principle owner of Shualink PNG Limited, a company she registered in 2023 which focuses on Entrepreneurship and Financial Literacy Training.

She has diploma in accounting, a National Certificate III in Training and Assessment and a Certificate in Entrepreneurship and New Venture Creation from the University Of Sunshine Coast in Australia.

“I have been in a tailoring business for eight years. I started facilitating sewing trainings for women and youths in the rural communities in 2020.”

“In 2021, when I attended CEFI’s Training of Trainers training, I decide to venture into training as managing money was an important knowledge that needs to be taught. It also added value to the sewing skills training I was conducting,” she said.

The passion and commitment shown by Lilly to advocate for financial inclusion in her community and teach her people how to save and budget their money comes from her own experience of been single mother and the challenged she faced to raise her children in tough financial situations.

“My motivation to get into training was from my experiences and challenges as a single mother. I diverted the hurts and lessons learned to encouraging other women to also work towards being financially independent through the Financial Literacy trainings.”

“If I can be able to manage, the little I have, this will help me to cater for my kids and loved ones,” said the 44 year old from Milne Bay province

“On the night of the Award, I was reminded of people I visited and assisted in the remote areas. To the women who have a similar experience I have, we have the power to change a situation around to a beautiful story to tell.

“This award is a highlight of my Advocacy work, thank you CEFI,” said Lilly proudly.

Below five of Lilly’s significant milestone achieved through her financial inclusion advocacy work since 2023.

No.	Year	Milestone Achieved	Outcome
1	2024	Reached out to women in Garaina and Wau with Financial Literacy Training in June	-200 participants attended the training (women, men and youths including participants with no literacy level. – 69 MiBank personal accounts were opened Solar lightening purchased from Solar Paygo
2	2024	We organized for Coconuts farmers from Kiriwina to open bank accounts	-20 farmers were assisted to open MiBank accounts for the first time. There were issued bank cards and taught how to use SMS Banking services.
3	2024	Awareness and promotions made to the communities to purchase quality Solar lightening through MiBank’s loan product	-10 solar lighting sets were purchased by the Wards counsellor and presented to 10 churches.
4	2023	Made awareness at the Huhu main market in Alotau for vendors to open bank accounts	-20 plus vendors were assisted to open bank accounts by our MiBank Agents
5	2023	We facilitated Financial Literacy training for MSMEs in Alotau town – (2 trainings).

Image Captions:

Impact Stories

The training pathway that set up Nellie’s business

Post author By Leslie Omaro
Post date December 9, 2024
No Comments on The training pathway that set up Nellie’s business

Woman entrepreneur Nellie Allen is thankful to CEFI’s Training of Trainer’s training for providing her the opportunity to explore and implement new ideas that revived her business.

“My business was shelved for about three years until I heard about CEFI’s ToT training, and I wanted to find out if the training can help with some new ideas on how to revive my consulting business again.

“I was looking for a niche market and sure enough, the additional online trainings facilitated by CEFI really “hit the nail on the head” for me. The trainings on E- Commerce and Business Planning gave me a new insight into how I can operate my business,” revealed Nellie.

Nellie learnt about CEFI’s training of trainer training via social media and from talking with her close peers and before long she attended three of training’s which included, Digital Financial Literacy, E-Commerce and Business Planning and Debt Management.

As the principal owner, she run’s a virtual office from home at Waigani in Port Moresby and uses the skills and knowledge acquired from CEFI’s training to operate her business.

“I registered my consulting business in 2019 but have not been focusing on it because I developed the interest in sewing and also, I got a full-time job.

“At the beginning of 2023, I decided to focus on my consulting business. The online trainings that CEFI facilitated was a boost for me and dream come true. The trainings set me on a new pathway especially on E-commerce and Business Planning.

“Am currently running the business myself and I have two consultants whom I engage as and when I have jobs for them. Due to financial constrain, I do not want a normal office set-up. I operate a virtual office and outsource jobs as and when I need to.”

Twenty 24 years ago Nellie registered two business, one in sewing called Swiftly Dress and one in selling known as Swift Consulting Services and decided that apart from sewing and selling, she should teach women how to sew and make an additional income stream.

“For Swiftly Dress, I sew and sell meri blouses and selling other clothes and accessories which I order online from overseas and locally as well.”

“After attending the CEFI TOT training on Financial Literacy, I decided to develop a training package which comprised of sewing meri blouse, basic bookkeeping, pricing the product, savings and budgeting.”

“My training package has attracted a lot of interests because it is new in the market. With my professional background as an Accountant, it is very easy for me to deliver this training. I do not operate a physical shop, but I have a business Facebook page that I use to advertise and sell my products.”

“With Swift Consulting Services, I have s igned up with Xero Accounting Software as a Business Advisor/Partner and I have registered with Business Link Pacific (BLP) as a Business Advisor.

I am currently doing the Competency Test to complete the formalities in order to be published on the website. I provide accounting and taxation services, auditing and administration services and also training.”

Image Captions:

News Article

Second Financial Education Workshop gets underway to create new and engaging Financial Education Teacher’s Resource Books, Student’s Activity Books, and Financial Education Syllabus for Grades 7 to 12.

This week, the second Financial Education Content Alignment and Development Workshop started with 26 passionate content writers coming together to work on a project that will make a real difference in the lives of students across Papua New Guinea. The group included curriculum officers, textbook writers, illustrators, from the Department of Education, dedicated secondary school teachers and CEFI staff. The objective of the workshop is to create new and engaging Financial Education Teacher’s Resource Books, Student’s Activity Books, and Financial Education Syllabus for Grades 7 to 12.

Building on the success of the first workshop held in October, where 21 books for preparatory to Grade 6 were developed, this second phase focuses on creating 13 Teacher’s Resource Books, 13 Student’s Activity Books, and 13 syllabuses for Grades 7 to 12. This marks a significant step forward in equipping young students with essential personal financial management skills that they will need to thrive in the future.

On Monday, November 22nd, CEFI’s Deputy Executive Director, Mr. Peter Samuel, warmly welcomed everyone to the two-week workshop, held at Dixie’s Bungalow Resort in Central Province.

The first two days were all about gathering knowledge, as CEFI invited key partners from the financial inclusion space to share their expertise on different topics. These presentations covered essential topics like insurance, superannuation, investments, micro-pension, payments, monetary policy, digital financial services, and banking services, all of these topics are the critical areas for the new curriculum development. The goal was to equip the content writers with the best industry knowledge and practices to ensure the 39 materials they create meet the highest standards.

Guest speakers brought a wealth of insights:

Wycliffe Ngwabe, Country Lead, United Nations Capital Development Fund (UNCDF) presented on “Practical and application aspect of insurance, eg. types of insurance, principles of insurance, importance of insurance, etc’’.
Nilson Singh, Country Manager, BSP Life PNG Limited, presented on ‘’Insurance in PNG and a case study from BSP Life PNG Products’’.
Debbie Oli, Chief Finance Officer, NASFUND, presented on ‘’ Superannuation in PNG and a case study from NASFUND’’.
Solomon Awili-PhD (Fin)(Flinders), Public Interest Non-Executive Director, PNGX Board and Senior Lecture, Banking & Finance, SBA, UPNG, presented on’’ The role and significance of stock exchange in PNG’’.
Velai Velai, Manager, SWITCH Operation & Support Unit, Payment Systems Department, Bank of Papua New Guinea, presented on ‘’ The role and function of payment system in the banking and finance industry’’.
James Sali, Economics Department, Monetary & Economic Policy Group, Bank of Papua New Guinea, presented on ‘’ Monetary policy’’.
Gautam Bhardwaj, pinBox Solutions Pte. Limited, presented on Micro-pension and voluntary superannuation contributions’’.
Jackson Tasi, MiBank, presented on ‘’ MiBank’s digital financial products and services’’.
Finally, Mr. Saliya Ranasinghe, Executive Director, CEFI, presented on ‘’Baking services and the new trend immerging in PNG’’.

The main outcome of the Financial Education Content Writer’s workshop is to develop all the resource topics mentioned above as Financial Education contents for Grades 7 to 12, resulting in the production of 18 books over a two-week period.

Photos from Week 1 of the workshop.

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