The Centre for Excellence in Financial Inclusion (CEFI) and the Honlly Isaac Jokema Foundation have signed a three-year Memorandum of Understanding (MoU) to deliver financial literacy training throughout Morobe Province, strengthening financial capability, promoting financial inclusion, and supporting sustainable livelihoods across rural communities.
The MoU was signed at Jokema Lodge in Lae, marking the beginning of a strategic partnership that will expand financial literacy programmes across Morobe Province’s ten districts.
The initiative will focus on equipping rural farmers, women, youth, persons with disabilities, and other underserved communities with practical financial knowledge and skills to improve money management, increase savings, and strengthen household and business finances.
The Honlly Isaac Jokema Foundation is a community-based organisation dedicated to supporting agriculture, youth development, community empowerment, and sustainable livelihoods throughout Morobe Province.
Through the partnership, the Foundation and CEFI will work together to ensure financial education reaches communities where it is needed most.
Speaking at the signing ceremony, CEFI Senior Financial Literacy Trainer, Mr Sebastian Mugup, welcomed the partnership, describing it as a significant step towards expanding financial literacy services to rural and underserved communities across Morobe.
“CEFI is pleased to partner with the Honlly Isaac Jokema Foundation to deliver financial literacy training throughout the ten districts of Morobe Province. This partnership reflects our shared commitment to empowering communities with practical financial knowledge and skills that can transform lives,” Mr Mugup said.
Mr Mugup said financial literacy remains a cornerstone of financial inclusion, enabling individuals and families to manage their finances responsibly, develop sound saving habits, plan for the future, and participate confidently in the formal financial system.
He said the programme would strengthen positive financial behaviours by promoting practical money management skills among rural farmers, women, youth, and persons with disabilities.
“When people understand how to budget, save, plan, and make informed financial decisions, they are better equipped to improve household incomes, build sustainable livelihoods, and create opportunities for future generations,” he said.
Mr Mugup said the initiative directly supports the Government of Papua New Guinea’s key development frameworks, including the National Financial Inclusion Strategy (NFIS) 2023–2027, the National Financial Inclusion Policy, the National Financial Literacy Strategy, the Micro, Small and Medium Enterprise (MSME) Policy, Vision 2050, the PNG Strategic Development Plan 2030, and the Medium-Term Development Plan IV (2023–2027).
He noted that these national policies recognise financial capability as a critical driver of inclusive economic growth, poverty reduction, entrepreneurship, and community empowerment.
“Financial inclusion is not only about access to financial services. It is about ensuring people have the knowledge, skills and confidence to use those services responsibly. Financial literacy equips people with practical skills in budgeting, saving, financial planning, responsible borrowing and informed decision-making. These skills strengthen households, support small businesses and contribute to more resilient communities,” Mr Mugup said.
He added that financial literacy is fundamental to the success of micro, small and medium enterprises by improving financial management practices such as budgeting, record keeping, cash flow management, savings, responsible borrowing and business planning.
Founder and Chairman of the Honlly Isaac Jokema Foundation, Mr Honlly Isaac Jokema, described the agreement as a significant investment in the people of Morobe Province.
“We are honoured to partner with the Centre for Excellence in Financial Inclusion to bring financial literacy training to the people of Morobe. This partnership is about investing in our people and giving them the knowledge and confidence to make better financial decisions that will improve their lives,” Mr Jokema said.
He said many coffee and cocoa farmers, fresh produce growers, women, youth and rural families worked hard to earn an income but had limited opportunities to develop practical financial management skills.
“Our farmers work tirelessly every day, yet many have never had the opportunity to learn practical skills in budgeting, saving, planning and managing their finances. This programme will help bridge that gap.”
Mr Jokema said financial literacy was just as important as agricultural production because earning an income alone did not necessarily translate into improved household wellbeing.
“When our farmers learn how to budget, save, invest wisely and plan for the future, they are better positioned to improve household incomes, educate their children, expand their farming activities and build more secure futures for their families.”
He reaffirmed the Foundation’s commitment to working closely with CEFI over the next three years to ensure financial literacy training reaches communities across all ten districts of Morobe Province.
“Our vision is to see every district, every Local Level Government and every rural community benefit from this programme. We want our people to develop a strong savings culture, become financially responsible and use their earnings to create lasting opportunities for future generations.”
Mr Jokema said the partnership reflected a shared commitment to empowering people through education, strengthening rural economies and building resilient communities that contribute to the sustainable development of Morobe Province and Papua New Guinea.
Under the three-year agreement, CEFI and the Honlly Isaac Jokema Foundation will collaborate to deliver community-based financial literacy programmes, strengthen local training capacity and improve household financial management throughout Morobe Province. The programme will also support farmers, entrepreneurs and community groups to strengthen business practices, increase savings and make informed financial decisions that contribute to long-term economic resilience.
The partnership represents another important milestone in advancing Papua New Guinea’s financial inclusion agenda by ensuring practical financial education reaches grassroots communities where it can deliver the greatest impact. Through strategic partnerships such as this, CEFI continues to strengthen financial capability, promote financial inclusion and empower Papua New Guineans to build more secure, resilient and prosperous futures.
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About CEFI
CEFI was established under the Association Incorporation Act and officially launched on the 24th of April 2013. CEFI was endorsed by PNG’s National Executive Council (NEC) as the industry apex organization for coordinating, advocating and monitoring all financial inclusion activities in PNG.
CEFI’s vision, mission and values focus on financial inclusion and literacy, poverty elimination and the promotion of vibrant financial institutional operation in Papua New Guinea.
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Media Contact:
Mr. Leslie Omaro
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Phone: 79736883
Email: lomaro@thecefi.org
