Author: Leslie Omaro

The Centre for Excellence in Financial Inclusion (CEFI) and the International Training Institute (ITI) have formalised a strategic partnership aimed at strengthening financial literacy, academic collaboration, and workforce readiness for Papua New Guinea’s next generation of professionals.

The signing of the Memorandum of Understanding (MoU) took place on Thursday, 27th November 2025, at the ITI Campus, signalling a significant step towards enhancing financial education and improving access to skills development for young Papua New Guineans.

The MoU outlines key areas of cooperation, including financial literacy and education capacity buildingand educational capacity-building for students and staff, mutual learning and exchange, curriculum development, internship placements, and joint participation in seminars, conferences, and career programmes.

Through this partnership, both institutions aim to nurture a younger generationworkforce equipped with essential financial knowledge, entrepreneurial skills, and practical experience needed to navigate PNG’s evolving economic landscape.

Speaking at the ceremony, CEFI’s Acting Executive Director, Mr Peter Samuel, highlighted the importance of the collaboration in expanding financial inclusion across the country. “CEFI was created through the Micro Expansion Project with ADB and other donors who recognised the need for access to finance, especially for those at the base of the pyramid,” he said.

He emphasised ITI’s unique role in providing accessible education, adding, “ITI provides a pathway that no other institution in the country provides. It gives opportunities to those who have been pushed out by the system, helping them build their lives and careers.”

Mr Samuel also shared his positive experience with ITI graduates, describing them as “very productive and efficient,” and stressed the importance of practical implementation of the partnership. “Signing is one thing, but operationalising it and adding value to students’ lives is what I would really like to see,” he remarked. He expressed confidence in future collaborations, stating, “We’re looking forward to more collaborations.”

ITI Chairman and Co-Founder, Mr Senthil Kumaran Sentheyval, reaffirmed ITI’s commitment to strengthening financial literacy for students and acknowledged CEFI’s expertise.

“Finance is the most important thing and the students must be trained on financial literacy.”

Mr Sentheyval outlined opportunities for collaboration, especially for students pursuing Tourism, SME and other business-related studies.

“We are trying to get some of them (students) to start their own business with financial literacy and education on now they can manage their money and how they can look after it,” he explained.

He described the partnership with CEFI as a “mutual benefit”, adding, “We (ITI) are here to complement their (CEFI) service and we know they’re doing a very great job.”

He also acknowledged CEFI’s sponsorship of ITI’s 2026 AI Summit.

Both organisations have expressed their readiness to commence joint planning immediately as they move towards operationalising the MoU and delivering meaningful, long-term impact for PNG’s education and economic sectors.

 

Ends.

 

About CEFI

CEFI was established under the Association Incorporation Act and officially launched on the 24^th of April 2013. CEFI was endorsed by PNG’s National Executive Council (NEC) as the industry apex organization for coordinating, advocating and moniotoring 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.

Visit our website – www.thecefi.org

Media Contact:

Mr. Leslie Omaro

Communication Officer

Phone: 7464 5678

Email: lomaro@thecefi.org

 

Caption:  CEFI Acting Executive Director Mr. Peter Samuel (right) and ITI Chairman and Co-Founder, Mr Senthil Kumaran Sentheyval sign the MoU Documents.

Image Caption:  Below Photos from the MoU Signing.

 

They arrived as strangers but left as advocates united by a shared desire to change the financial habits of their families, workplaces, and communities. Participants agreed that the week long experience not only strengthened their skills but reshaped their outlook on money.

This sentiment echoed throughout the closing ceremony of CEFI’s Financial Literacy Trainer of Trainers (ToT) Program, held from 3^rd  to the 7^th of November 2025 at the CEFI Office in Port Moresby.

In his address, CEFI’s Acting Executive Director, Mr. Peter Samuel, said the group’s participation reflected a shift in mindset an essential foundation for addressing Papua New Guinea’s deep-rooted spending culture.

Mr. Samuel noted that many Papua New Guineans continue to struggle with saving because generational habits and communal obligations often outweigh long term financial goals.

He emphasized that financial empowerment requires intentional planning, particularly in an environment where fees, rising costs, and financial pressures place many households at risk.

Mr. Samuel also commended the dedication of the 35 newly certified trainers (17 males and 18 females) from eight provinces adding that CEFI cannot do the training alone.

He acknowledged organizations and individuals who funded themselves to attend the training, saying their commitment demonstrates “a willingness to change not just society, but themselves”.

Guest speaker Dr. Nancy Irwin, CEO of Nuterra Inc., described the training as a testament to the idea that “skills are lasting empowerment”. She encouraged participants to remain connected as a network of change agents, reminding them that “power is network” and urging them to serve as positive influencers in their communities.

Male participant Mr. Ben Bande thanked CEFI for the opportunity, explaining that the program strengthened their understanding of savings, budgeting, and cash-flow planning—knowledge they will carry forward as better financial managers and trainers.

Participants represented diverse professional backgrounds and travelled from across the country, including:

• Port Moresby (NCD) – 25
• New Ireland (Kavieng) – 4
• Morobe (Lae) – 2
• Madang – 1
• Eastern Highlands (Goroka) – 1
• West Sepik (Vanimo) – 1
• Gulf (Kerema) – 1
• Hela (Tari) – 1

This second batch under the Expression of Interest arrangement marks another important milestone in expanding CEFI’s nationwide network of Financial Literacy Trainers.

 

Ends.

 

About CEFI

CEFI was established under the Association Incorporation Act and officially launched on the 24^th of April 2013. CEFI was endorsed by PNG’s National Executive Council (NEC) as the industry apex organization for coordinating, advocating and moniotoring 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.

Visit our website – www.thecefi.org

Media Contact:

Mr. Leslie Omaro

Communication Officer

Phone: 7464 5678

Email: lomaro@thecefi.org

Image Caption: Photos from the week long TOT Training and Certificate Presentation.

 

A four-day Financial Literacy Retail Training was conducted for smallholder farmers from Inland Baining, Gazelle District, East New Britain Province, from 1st to 4th October 2025. The training was facilitated by the Centre for Excellence in Financial Inclusion (CEFI) in partnership with the United Nations Development Programme (UNDP) and the Conservation and Environment Protection Authority (CEPA) under the GEF7-FOLUR Project.

The event, held at Rapopo Plantation Resort in Kokopo, brought together 45 participants  23 men and 22 women  involved in cocoa and fresh produce farming. The farmers were divided into two batches, with Batch One trained from 1st–2nd October and Batch Two from 3rd–4th October.

The sessions covered key topics such as money management, savings plans, household budgeting, tracking income and expenses, cash flow management for seasonal crops, and accessing financial services. Representatives from financial institutions including NCSL, BSP, Kadaporoman Microfinance Limited, and East New Britain Savings and Loans Society also attended to share information on their products and services.

According to CEFI, the training aimed to equip farmers with essential financial skills to better manage income, reduce debt, and build savings to strengthen their economic resilience.

The initiative forms part of broader efforts to advance financial inclusion, promote sustainable livelihoods, and support the PNG Vision 2050.

It further contributes to the FOLUR Impact Programme’s goal of fostering sustainable and inclusive rural economic growth across New Britain Island.

Ends.

Image Caption: Participants from Inland Baining, Gazelle District, take part in group discussions and practical exercises during the four-day Financial Literacy Retail Training held at Rapopo Plantation Resort in Kokopo. The training, facilitated by the Centre for Excellence in Financial Inclusion (CEFI) in partnership with UNDP and CEPA under the GEF7-FOLUR Project, equipped cocoa and fresh produce farmers with vital financial management skills to strengthen their livelihoods.

 

The Centre for Excellence in Financial Inclusion (CEFI), in collaboration with the Department of Community Development and Religion (DFCDR) and the West New Britain Provincial Government, successfully conducted a five-day Training of Trainers (ToT) program from 13th to 17th October 2025 at the Kadeemah Motel in West New Britain.

The program brought together 27 participants, including 21 men and 6 women, representing Community Development Officers and officials from the provincial and district administrations of Nakanai and Kandrian–Gloucester. The training aimed to enhance participants’ facilitation and training skills while deepening their knowledge of key financial literacy topics such as savings, budgeting, and cash flow management.

During the sessions, representatives from the Nasfund Contributors Savings and Loan Society (NCSL) presented information on various financial products and services. Several participants reportedly took the opportunity to open savings accounts with NCSL, reflecting an immediate positive outcome of the training.

The ToT program concluded on Friday, 17th October 2025, with a certificate presentation ceremony that coincided with the official opening of the District Community Development Centre (DCDC) in Biala.

This initiative was part of ongoing efforts to strengthen community development and promote financial inclusion throughout West New Britain Province. By empowering local officers with practical financial literacy skills, the program aimed to ensure that communities across the province would benefit from improved financial awareness and inclusion initiatives.

Ends.

Caption:  Community Officers from West New Britain attended a Training of Trainers (ToT) session, where NCSL representatives also shared insights on financial products and services. The training strengthened participants’ facilitation skills and deepened their understanding of key financial literacy topics, including savings, budgeting, and cash flow management.

A week-long financial inclusion outreach held from 6th to 11th October 2025 saw cocoa farmers in the Inland Baining area of East New Britain gain access to formal banking services for the first time.

The initiative, organized by the Centre for Excellence in Financial Inclusion (CEFI) in partnership with the United Nations Development Programme (UNDP) under the FOLUR Project, took place across six villages in the Inland Baining Local Level Government (LLG) of the Gazelle District.

According to organizers, the account-opening programme was conducted in Manapki, Bruit, Rangulit, Kasaska, Malasaet, and Alakasam villages, where teams from several financial institutions provided on-site services to local communities.

Participating institutions included East New Britain Savings and Loan Society (ENBSL), Kadaporoman Microfinance Limited, Nationwide Microbank, Nasfund Contributors Savings and Loan Society (NCSL), and BSP Financial Group Limited.

It was reported that between 20 and 30 new accounts were opened by each institution in every community, signaling strong local interest and growing trust in formal financial systems.

CEFI representatives said the outreach demonstrated the effectiveness of collaboration in promoting financial inclusion in remote areas. They explained that access to basic banking services would empower families, support small-scale cocoa farmers, and foster a culture of saving and financial management.

The programme was described as a key milestone in the ongoing efforts to strengthen rural livelihoods and ensure that economic opportunities reach all communities in East New Britain.

Ends.

Caption: Images  showing representatives from financial institutions opening accounts for Cocoa farmers in Inland Baining in East New Britain Province.

Kerema District in Gulf Province will host the Young Mind Savings Campaign (YMSC) this week from Wednesday 08^th to 10^th October, following successful rollouts in East New Britain, Milne Bay and West New Britain provinces.

The YMSC is a key initiative under a Memorandum of Understanding (MoU) signed between the Centre for Excellence in Financial Inclusion (CEFI) and the Kerema District Development Authority (DDA) on 06^th November 2023.

The Kerema campaign is supported by the Bank of Papua New Guinea, the Securities Commission of PNG, and several financial institutions including MiBank, Women’s Micro Bank, Bank South Pacific, Nasfund, Credit Corporation Bank, and Nambawan Super.

The three-day event aims to engage students from selected primary and secondary schools to promote a culture of saving and financial responsibility. Activities include awareness sessions, question-and-answer forums, and on-site bank account openings.

Participating schools include Sikalu, Ilakaraeta, Karea, and Epo Uriri Primary Schools, as well as Malalaua and Kerema Coronation Secondary Schools.

The initiative supports the National Financial Inclusion Strategy (NFIS) 2023–2027, which targets the opening of an additional two million bank accounts nationwide.

Previous campaigns have made a strong impact, with more than 600 student savings accounts opened across the three participating province, Milne Bay,West New Britain, and East New Britain.

 

Ends.

Image 1:
CEFI’s Special Projects Coordinator, Mr Tobias Toumne, briefs Sikalu Primary School Headmistress, Mrs Xavier, during a visit to the school on Monday, 6th October. The briefing focused on the upcoming Young Mind Savings Campaign to be implemented in the Kerema District. Observing the discussion are Security Commission PNG Senior Officer, Mr Max Siwi, and Rev. Pastor Tuta, Chairman of the Kerema District Steering Committee.

Image 2:
Students make their way out for recess at Sikalu Primary School. Sikalu Primary is among six schools in the Kerema District participating in the Young Mind Savings Campaign.

Image 3:
Students in class at Sikalu Primary School, one of six schools in the Kerema District participating in the Young Mind Savings Campaign.

Image 4:
The school signage board at Sikalu Primary.

Image 5:
(From left to right) Security Commission PNG Senior Officer, Mr Max Siwi, and CEFI’s Special Projects Coordinator, Mr Tobias Toumne, present the official campaign polo shirt to Kerema Coronation Secondary School Principal, Mr Colin Sauka, during a visit to brief him on the forthcoming Young Mind Savings Campaign.

Image 6:
A view of Kerema Coronation Secondary School.

Image 7:
Grade 9 and Grade 11 students of Malalaua Secondary School taking a break during lunch.

Image 8:
A two-storey classroom building at Malalaua Secondary School.

Image 9:
Three female students of Karea Primary School walking to their classroom.

Image 10:
The school grounds at Karea Primary School.

Image 11:
The signage board at the entrance of Epo Uriri Primary School.

Image 12:
A view of classrooms at Epo Uriri Primary School.

 

About CEFI

CEFI was established under the Association Incorporation Act and officially launched on the 24^th of April 2013. CEFI was endorsed by PNG’s National Executive Council (NEC) as the industry apex organization for coordinating, advocating and moniotoring 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.

Visit our website – www.thecefi.org

Media Contact:

Mr. Leslie Omaro

Communication Officer

Phone: 7464 5678

Email: lomaro@thecefi.org