Kerema District has emerged as a national leader in advancing financial literacy among young Papua New Guineans through the Young Mind Savings Campaign (YMSC), an initiative spearheaded by the Centre for Excellence in Financial Inclusion (CEFI) with the support of the Bank of Papua New Guinea (BPNG) and various financial partners.
The three-day campaign, held from 8th to 10th October 2025, concluded with a ceremony at Kerema Coronation Secondary School after successful visits to six schools Epo Uriri Primary, Kerema Coronation Secondary, Karea Primary, Malalaua Secondary, Sikalu Primary, and Ilakaraeta Primary. The programme aimed to instil responsible financial habits among students by teaching them the importance of savings, budgeting, and opening bank accounts.
According to CEFI’s Acting Executive Director, Mr Peter Samuel, Kerema was the first district in the country to implement the 2025 campaign, resulting in the opening of over 300 new student bank accounts. He expressed gratitude to financial institutions such as MiBank, Women’s Micro Bank (Mama Bank), Nambawan Super, Nambawan Savings & Loan, and BSP, which participated in the campaign and facilitated on-site account openings.
Mr Samuel also thanked Credit Bank for its generous provision of merchandise for participating schools, and extended appreciation to the Securities Commission of PNG, Bank of PNG, and the Kerema District Administration for their partnership. He further acknowledged Hon. Thomas Opa, Minister for Finance and Member for Kerema Open, for his continued support of youth financial education.
At the closing ceremony, Mr Danny Koka, CEFI’s Manager for NFIS Coordination and Stakeholder Engagement, commended the cooperation between school administrations, local leaders, and financial institutions. He said that financial literacy formed the foundation of self-reliance and economic growth, encouraging students to open bank accounts early to build a secure financial future.
Kerema District Administrator, Mr Sarufa Ako, praised the collaboration between CEFI and the Kerema District Development Authority (KDDA) under their Memorandum of Agreement (MOU), signed in November 2023. He said the campaign went beyond promoting savings, aiming to equip young people with vital money management skills that sustain livelihoods and empower communities.
Representatives from the participating financial institutions described the initiative as a practical approach to introducing students to formal banking. A spokesperson for MiBank said the campaign gave students “a valuable opportunity to learn the benefits of saving and understand how to manage money responsibly.” Similarly, a representative from Women’s Micro Bank stated that encouraging financial discipline among youth would “help shape a generation of financially independent citizens.”
Students also expressed enthusiasm for the campaign, with one Malalaua Secondary student saying it had taught them “the importance of saving for the future” and given them confidence to manage money wisely. Another student from Sikalu Primary shared that opening a savings account made them “feel proud and responsible.”
Teachers and parents also welcomed the awareness sessions on Capital Markets, Investments, and Treasury Bills, saying the information helped them distinguish legitimate financial institutions from fraudulent schemes. Many requested that similar campaigns be extended to other schools across the province.
Given its success, stakeholders urged that the Young Mind Savings Campaign be included in Kerema District’s annual work plan to ensure continued financial education for young people. The campaign, part of CEFI’s Provincial Government Engagement Programme and the Third National Financial Inclusion Strategy (NFIS 2023–2027), seeks to reach two million unbanked citizens by 2027, with half being women.
Ends.
Images from the Young Mind Savings Campaign that was rolled out at Kerema Coronation Secondary School, Epo Uriri Primary, Karea Primary, Malalaua Secondary, Sikalu Primary, and Ilakaraeta Primary, in the Kerema District in Gulf Province.
