The Centre for Excellence in Financial Inclusion (CEFI) participated at the Women’s Economic Empowerment Expo held from 23 to 25 June in Lae, Morobe Province, demonstrating its continued commitment to empowering women through financial inclusion.
Invited as a silver-level sponsor, CEFI joined nearly 100 small and medium enterprises (SMEs) and several prominent partners including the Credit Guarantee Corporation (CGC), Small and Medium Enterprises Corporation (SMEC), Investment Promotion Authority (IPA), and Internal Revenue Commission (IRC), in supporting the Women SME Expo.
Organized by SMEC and Lae SME Incubator Hub managed by Tok Stret Consulting Limited, the expo aimed to promote economic opportunities for women in Morobe Province.
CEFI also took part in a panel discussion alongside other key stakeholders, contributing insights on financial inclusion, and business support programs to women-led businesses.
As part of its engagement, CEFI conducted informal stall-to-stall interviews with women entrepreneurs, many of whom operate in the informal economy and found out that women participants prioritized day-to-day business operations and income generation, many were unaware of available training programmes or did not perceive immediate benefits from them.
According to CEFI’s GESI Cordinator, Daisy Moses, who conducted the interviews, this insight pointed to a significant awareness gap and widespread misunderstanding and fear surrounding business compliance particularly in relation to registration with IPA and IRC were evident. Many women expressed concern that formalizing their businesses would result in tax obligations, deterring them from engaging with these systems.
The expo also highlighted the need for more targeted information sessions. However, CEFI has now renewed its focus on delivering more awareness initiatives to better inform women about business support programs, financial literacy, and the benefits of formalization and compliance.
CEFI’s participation in the Women’s Economic Empowerment Expo not only underlines its leadership in advancing financial inclusion for women but also opened up important conversations around bridging knowledge gaps, reducing fears around formalization (sme business), and expanding access to financial support services throughout Papua New Guinea.
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