A team from the Centre for Excellence in Financial Inclusion (CEFI), led by Acting Executive Director Mr. Peter Samuel, visited the Niu Ailan Savings and Loan Society (NAS&LS) during the week of April 2nd.

The purpose of the visit was to present the Annual Benchmark Report and Factsheet Report 2023 to NAS&LS team.

CEFI analyses and reports the quarterly financial inclusion and financial performance data received from institutions to the Bank of Papua New Guinea (BPNG) and the wider public, and through such engagements partnerships are strengthened with institutions submitting data.

CEFI’s engagement with NAS&LS emphasized the importance of accurate and timely data in producing reports. Through on site presentations, the team demonstrated how informed decisions in the financial inclusion space rely on accurate data. The discussions and presentation agenda set during the visit with NAS&LS will serve as a model for similar engagements with other institutions throughout the year.

Aligned with Papua New Guinea’s national target of opening two million new bank accounts by 2027—half intended for women—the visit reinforced efforts to advance financial inclusion across the country.

During the session, CEFI’s Senior Data Analyst, Mr. Ruruva Ane, presented the Annual Benchmark and Factsheet Report 2023, providing a comparative analysis of the society’s performance against other financial institutions.

NFIS Implementation Coordinator Mr. Albert Mokis Ahabh introduced the Financial Inclusion Mapping Tool template, guiding society staff on identifying financial access points to support policy development and expansion plans.

CEFI Acting Executive Director Mr. Samuel commended NAS&LS for their timely reporting, stressing the importance of data in identifying growth opportunities.

NAS&LS CEO Mr. John Maradangoi expressed gratitude for CEFI’s support and shared plans to extend the society’s services across New Ireland Province.

The CEFI team also met with a representative from the Economic Sector of the New Ireland Provincial Administration to explore potential partnerships aimed at boosting financial inclusion initiatives in the province.

Ends.

Image Captions:

Image 1.  CEFI Acting Executive Director Mr. Peter Samuel  (left) speaking to the NAS&LS team during their meeting in New Ireland province.

Image 2. CEFI Acting Executive Director Mr. Peter Samuel (left) and Mr. Ruruva Ane, CEFI’s Senior Data Analyst speaking to the NAS&LS team during their meeting in New Ireland province.

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