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Author: Leslie Omaro

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Impact Stories

Q & A with Anne-Shirley Korave

Founded by Anne-Shirley Korave, QueenPads is a proud PNG social and green enterprise addressing menstrual challenges faced by women nationwide. With support from BLP, QueenPads has improved efficiency, boosted growth, and continues to promote sustainable menstrual health solutions.

Read Anne-Shirley’s full Q&A session with CEFI.

  1. Can you briefly state the nature of your business?

QueenPads is a locally owned social and green enterprise established in Port Moresby, Papua New Guinea, in 2018. Its goal is to address the silent menstrual challenges faced by thousands of women across the country. With a dedicated team of full-time staff and volunteers, QueenPads focuses on the production and distribution of eco-friendly, reusable menstrual products, as well as education and advocacy programmes.

  1. What was the state of your business prior to the assistance of the BLP Business Grant?

The business was incurring high operational costs. And since we need to engage professional  services, an additional cost, accounting , communication and tech, recently HR services, the subsidy came in very handy bearing half of the costs incurred for those services  at the initial stages.

  1. In what ways did the BLP Business Support Grant/Subsidy/Small Grant Facility/Concessional Loan assist your business to grow?

BLP’s Business Subsidy support helped reduce some of those initial high costs. And as a result, these outrsourced services enhanced the overall business operations.

 

  1. What are some of the positive outcomes following the assistance by BLP?

Not all professional business services are affordable for SMEs due to high service fees. For us, being able to access such services with the support of BLP was a significant achievement. Improved efficiency and enhanced business operations.

  1. After receiving the BLP Service (Business Support Grant, Small Grant Facility, Subsidy, Concessional Loan), do you still face challenges in your business operations?

Yes. Challenges in business operations are ongoing, particularly within a tough economy such as Papua New Guinea’s.

  1. How is your business helping/benefiting ordinary Papua New Guineans?

Our locally designed sanitary products are helping thousands of women in both rural and urban areas to save money and manage their menstrual health with confidence and dignity, while also protecting the environment from waste pollution. In addition, our education and advocacy programmes promote women’s health and well-being.

  1. How do you see your business in the next five (5) years?

We aim to produce more eco-friendly and cost-effective sanitary product solutions, reaching thousands of women who need menstrual care in Papua New Guinea and the wider region. Together, we are working towards a #PeriodFriendlyPNG and a #PeriodFriendlyRegion. At QueenPads, we envision a healthy and sustainable society for years to come.

 

Ends.

Categories
Impact Stories

QueenPads: Empowering Women Through Sustainable Menstrual Solutions

Founded in 2018 by Anne-Shirley Korave, QueenPads is a proudly Papua New Guinean social and green enterprise based in Port Moresby.

The organization was established to address the silent but pressing menstrual challenges faced by thousands of women across the country. With a dedicated team of staff and volunteers, QueenPads focuses on producing and distributing eco-friendly, reusable menstrual products, alongside delivering education and advocacy programmes on menstrual health.

Before receiving assistance from the Business Link Pacific (BLP) Business Grant, QueenPads faced high operational costs, particularly for professional services such as accounting, communication, technology, and human resources. The BLP subsidy helped ease this financial burden by covering half of these expenses during the early stages of growth.

Anne-Shirley explained that BLP’s support significantly enhanced operational efficiency by enabling access to vital professional services that many small and medium enterprises (SMEs) in Papua New Guinea find unaffordable. As a result, QueenPads strengthened its management and overall business performance.

Despite ongoing challenges in a difficult economic climate, QueenPads continues to make a powerful impact. Its locally made sanitary products empower women in both rural and urban communities to manage their menstrual health confidently and sustainably.

Looking ahead, Anne-Shirley envisions expanding QueenPads’ reach across Papua New Guinea and the wider Pacific, promoting a #PeriodFriendlyPNG and a #PeriodFriendlyRegion, while building a healthier and more sustainable future for all women.

Ends.

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News Article

Young Mind Savings Campaign Heads to Kerema District

Kerema District in Gulf Province will host the Young Mind Savings Campaign (YMSC) this week from Wednesday 08th to 10th 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 06th 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 24th 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

Categories
Impact Stories

Q & A with Gou Ava

The PNG Blue Green Initiative (PNG BGI), led by Ms Gou Ava in Ukaukana village, Central Province, is making strides in agribusiness through its solar-powered free-range chicken layer farm. From fewer than 100 chickens before 2024, the farm has grown to over 350 birds, producing nearly 1,000 eggs weekly. With support from the Business Link Pacific (BLP) Small Grant Facility, Gou expanded her operations, improved infrastructure, and now supplies both local communities and Port Moresby markets. Beyond business, the initiative empowers village youth, supports churches, and promotes community farming.

Read Gou’s full Q&A session with CEFI.

 

  1. Can you briefly state the nature of your business?

PNG Blue Green Initiative is a small to medium enterprise (SME) primarily owned by Ms Gou Ava. It operates in Ukaukana Village, Kairuku Hiri District, Central Province of Papua New Guinea. The main business operation is a chicken layer farm, with approximately 350 chickens, including 100 young birds around four months old. Weekly production is close to 1,000 eggs. About 30% of the eggs are sold to local villagers, while the balance is supplied to our main customer in Port Moresby, Tapioca Delight. We began on a small scale, but with the support of BLP, we were able to upgrade the farm in early 2024.
In addition, we grow yams on a small scale and sell block ice as part of the family business initiative. Our farm is free-range and operates entirely on solar power, with water sourced from a ground well.

  1. What was the state of your business prior to the assistance of the BLP Business Grant?

Before receiving the BLP grant in early 2024, our farm had fewer than 100 chickens. We faced challenges with accessing markets, inadequate chicken shelter and limited opportunities for expansion. Our weekly production was low, and we were unable to meet the growing demand for eggs.

  1. In what ways did the BLP Business Support Grant/Subsidy/Small Grant Facility/Concessional Loan assist your business to grow?

We applied for the BLP small grant in 2023 and received K10,000. The funds were used to construct a proper chicken shelter and purchase 300 young layer chicks from Zenag in Lae. Part of the grant was also allocated to initial feeding costs. Although we lost around 50 chickens to illness in the beginning, after five to six months, the birds started laying eggs, and production gradually increased. This opened up opportunities in both the local market and in Port Moresby.
With extra savings from sales, we ordered 100 new layers in April 2025, expanded farm fencing, and built a temporary shelter in the village. We currently generate monthly sales of between K4,000 and K4,600.

  1. What are some of the positive outcomes following the assistance provided by BLP?

The BLP grant enabled us to build a sustainable chicken farm in the village, ensuring a steady supply of eggs for both local and urban markets. It has also created opportunities for young people in the village to participate in farm-related activities and has allowed us to support church and community initiatives. Beyond business growth, the grant has contributed to a number of social and community benefits.

 

  1. After receiving the BLP service, do you still face challenges in your business operations?

Yes, with growing demand in the village, we still require financial support to expand the farm, including the construction of additional shelters, the purchase of new layers, and improved fencing.
We have also experienced theft of chickens by outsiders, which has led to additional expenses for improved fencing and the installation of solar lighting. At present, we are working on setting up a solar-powered security camera system.

  1. How is your business helping or benefiting ordinary Papua New Guineans?

Being located outside Port Moresby, we are able to meet the egg requirements of local villagers and supply block ice, which is essential for local tilapia fishermen. We sell eggs at K1 per egg (K12 per dozen), which is considerably cheaper than prices in both the village and Port Moresby markets, where a dozen eggs typically costs K15–K16.
We also engage local youths in farm work, provide them with allowances and training, and support village church functions and community awareness programmes. Additionally, we have purchased 1,000 hybrid cocoa seeds, which we are currently nursing. We plan to distribute 20% of the seedlings to village households to encourage backyard farming as part of our community initiative.

  1. How do you see your business in the next five years?

In the next five years, we aim to operate a fully functional chicken layer farm with around 2,500 layers, capable of meeting 100% of local demand while supplying surplus eggs to Port Moresby. We also plan to produce at least 50% of our own chicken feed from local produce. Our goal is to employ more than 12 permanent staff and achieve higher returns on investment.
In addition, with trial projects such as cocoa farming and vegetable production, we hope to involve more village youths in farm work, share knowledge, and encourage the wider community to participate in business activities.

 

 

Categories
Impact Stories

Building a Sustainable Future: Gou Ava’s Blue Green Initiative

In the quiet village of Ukaukana in Central Province, Ms Gou Ava is proving that small-scale farming can grow into a thriving enterprise with the right support.

Her business, PNG Blue Green Initiative, began modestly with fewer than 100 chickens and limited market access.

Today, thanks to a Business Link Pacific (BLP) grant, her farm houses around 350 chickens, producing nearly 1,000 eggs weekly.

The K10,000 grant in 2023 enabled the construction of proper shelters and the purchase of 300 young layer chicks. Though some losses occurred early on, production soon flourished. With new sales outlets opening both in local villages and Port Moresby, monthly revenues now reach K4,000–K4,600.

Beyond profits, the farm is deeply rooted in community life. Eggs are sold at a lower price than in urban markets, providing affordable protein for villagers.

Youths are engaged in farm work, gaining both skills and allowances, while the initiative also supports church functions and communal activities. Recently, Gou has ventured into cocoa, nursing 1,000 hybrid seedlings, with plans to share 20% of them among villagers.

Challenges remain, from security concerns to financing future expansion. Yet Gou’s vision is ambitious: a fully functional chicken farm with 2,500 layers, producing local feed, and employing a dozen permanent staff within five years.

She also aims to expand cocoa and vegetable farming, creating wider opportunities for her community.

Gou’s journey reflects resilience, innovation, and a commitment to support her local community.

Image Captions:

Image 1: A thriving poultry layer farm in Ukaukana Village, Central Province, is bringing new life and opportunities to the community.

Image 2: Chicken feed made from fresh, locally grown produce ensures healthier birds and supports village farmers.

Image 3: Every day, the farm gathers fresh eggs ready to be distributed for sale.

Image 4: Carefully packed and ready for sale, these eggs provide food security and income for families.

Image 5: Beyond poultry, the team is trialling hybrid cocoa seeds, exploring new ways to grow village livelihoods.

Image 6: Construction of new shelters is underway, expanding the farm to meet growing village demand.

Image 7: Young people are being engaged in farm work, creating skills, jobs, and hope for the future.

Image 8: From farming to faith, the project also supports church and community activities, keeping village life strong.

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Media Releases

Young Mind Savings Campaign Sees Strong Student Participation with over Hundred Students Opening Bank Accounts

The Young Mind Savings Campaign (YMSC) in East New Britain Province concluded successfully after a three-day programme that engaged secondary and primary school students across three districts, Kokopo, Rabaul and Gazelle.

CEFI’s Acting Executive Director, Mr Peter Samuel, praised the successful conclusion of the YMSC in East New Britain Province, describing it as an important step in equipping young people with financial knowledge.

“The campaign has demonstrated the potential of financial education in shaping the future of our youth,” Mr Samuel said. “By opening their first savings accounts, students have taken a crucial step towards financial independence and responsibility.”

Mr Samuel highlighted the strong participation and enthusiasm shown by students across Kokopo Secondary, Malaguna Technical, St Martin’s Primary, Kerevat National School of Excellence, and Kerevat Primary School. “The eagerness of young people to learn and to act is encouraging,” he said.

He commended the East New Britain Provincial Government, Security Commission of PNG and  the Bank of Papua New Guinea, and all financial institutions that partnered in the three-day campaign. “Financial inclusion is a shared mission, and this campaign reflects the impact of collaboration in preparing our next generation for their future,” he said.

Looking ahead, Mr Samuel reaffirmed CEFI’s commitment to expanding the YMSC into other provinces under the National Financial Inclusion Strategy 2023–2027.

“Our way forward is clear we must reach more provinces, strengthen partnerships, and ensure every Papua New Guinean has access to a bank account and be financial included,” he said.

The YMSC was rolled out at Kokopo Secondary School, Malaguna Technical School (St. Martins Primary School students included) and concluded at Kerevat National School of Excellence (Kerevat Primary School students included). Throughout the three days, students interacted with institutions through booths, awareness talks and account opening.

The partners that participated in the campaign included the Securities Commission of PNG, the Treasury Department, Credit Guarantee Corporation, Bank of PNG – Financial Domestic Markets Division, BSP, Kina Bank, Nambawan Super, Nambawan Super Savings & Loans, Nasfund, NCSL, TISA Bank, Kada Poroman, East New Britain Savings and Loan (ENBSL), and MiBank.

Their representatives engaged with students directly, sharing knowledge, demonstrating banking services, and facilitating new account openings.

The three-day campaign from 27th to 29th August, was coordinated by the Centre for Excellence in Financial Inclusion (CEFI) under the National Financial Inclusion Strategy (NFIS) 2023–2027. It was delivered in partnership with the East New Britain Provincial Government, supported by the Bank of Papua New Guinea, Security Commission alongside leading financial institutions.

East New Britain is the third province to host the campaign, following last year’s roll-outs in Milne Bay and West New Britain.

The campaign achieved a strong outcome, with a significant number of students opening savings accounts on site at the respective schools.

Mrs Rosemary Murure, Advisor for Commerce with the East New Britain Provincial Government, reaffirmed the province’s commitment to its partnership with CEFI, formalized through a 2021 Memorandum of Understanding.

“Financial education is important in better preparing students for the future. It is pleasing to witness students engaging with financial institutions and encouraging to know how eager the students are to open their first bank account, and to begin saving early to secure their future.”

Students were asked what they thought of the Young Mind Savings Campaign;

Richard Buckley, Grade 9 – Kokopo Secondary School, “It is a very valuable initiative that empowers young people with knowledge and skills necessary to make informed financial decisions and secure their financial futures.

Grace Laiga, Grade 9 – Kokopo Secondary School, “A really good initiative that will help a lot of young people to save money and also equip them with the skills on how to be financially independent and not depending on their parents’ money.”

Ruth Haro, Grade 11 – Malaguna Technical Secondary School, “A positive initiative aimed at promoting financial literacy and encouraging savings among young people.”

Willie Walo, Grade 10 – Malaguna Technical School, “A great initiative because it focusses on teaching young people how to save their money and also help them in their financial life when they grow up.”

Tamiso Crumba, Grade 7 – Kerevat Primary School, “It is a positive initiative because it teaches young people to start saving for their future.”

Dickson Waselolo, Grade 8 – Kerevat Primary School, “Helps us to understand the idea and concept of savings and why it is important to open a bank account. It also helps us to be financially aware on how to use and manage our money.

 

 

Ends.

Categories
News Article

BPNG Strengthens Push for Financial Inclusion, Highlights Microfinance in National Development

The Deputy Governor of the Bank of Papua New Guinea (BPNG), Mr. Jeffery Yabom, has reaffirmed BPNG’s commitment to building an inclusive financial system, stressing that microfinance is vital to national development.

Mr. Yabom delivered the keynote address at the PNG Microfinance Diagnostic Validation Workshop held on Wednesday, September 3, 2025, at the Crown Hotel in Port Moresby.

The workshop, facilitated by the Asian Development Bank (ADB), brought together Financial Institutions, the Credit Guarantee Corporation, BPNG, and the Centre for Excellence in Financial Inclusion (CEFI), along with the SME Corporation and other key stakeholders from the financial and development sectors.

Highlighting the importance of microfinance, Mr. Yabom noted that more than 80 percent of Papua New Guineans live in rural and remote communities with limited access to financial services. He described microfinance as a “lifeline,” enabling families to save, invest, educate their children, and grow small businesses.

Reflecting on progress since Papua New Guinea signed the Maya Declaration on Financial Inclusion in 2013, the Deputy Governor said: “At that time, fewer than one in five Papua New Guineans had access to formal financial services. Today, under the National Financial Inclusion Strategy 2023–2027, there are more than 4.3 million bank accounts, a result of the combined efforts of BPNG, financial institutions, and development partners.”

While acknowledging this progress, Mr. Yabom cautioned that challenges remain, including the high costs of serving rural areas, weak governance in microfinance institutions, and limited product diversity. He called for expansion into new services such as micro-insurance, remittances, and SME products, while strengthening consumer protection and regulatory oversight.

He further emphasized the opportunities that exist in digital finance, women’s economic empowerment, strategic partnerships, and climate-resilient “green finance.” He noted that financial inclusion is central to PNG’s Vision 2050 and its medium-term development plans.

“BPNG will continue working closely with government, the private sector, and development partners to ensure that microfinance remains sustainable, innovative, and inclusive,” Mr. Yabom assured.

ADB consultant Mr. Jagdeep Dahiya also delivered two key presentations at the workshop.

In his first presentation, Status of Microfinance – Key Findings, Mr. Dahiya outlined how PNG’s financial sector has expanded since the Microfinance Expansion Project, which established CEFI. He reported that PNG now has over 4.3 million deposit accounts, compared to the initial target of one million in 2013. However, microfinance institutions still account for less than three percent of total financial sector assets, with services skewed toward urban areas.

He also highlighted the dominance of commercial banks in deposit mobilization, while noting that Microbanks and Savings and Loan societies have broader outreach in rural areas. Despite growth in account ownership, access to credit remains low, leaving many Papua New Guineans dependent on informal lending. He further observed that the gender gap in financial access has widened, calling for renewed efforts to advance women’s financial inclusion.

In his second presentation, Challenges and Key Recommendations, Mr. Dahiya identified major barriers, including limited regulatory incentives, low digital financial literacy, weak consumer protection, and inadequate ID systems. He also pointed to high banking fees, lack of trust in formal institutions, and poor infrastructure as obstacles to participation.

To address these issues, Mr. Dahiya recommended strengthening policy frameworks, fostering innovation in digital finance, expanding funding to microfinance institutions, and simplifying compliance processes to improve access.

He concluded that coordinated efforts across government, industry, and development partners are essential to strengthening microfinance and ensuring inclusive growth in Papua New Guinea.

The workshop concluded with an engaging Q&A session, open discussions, and valuable feedback from participants.

Ends.

Captions:

Image 1: Deputy Governor of the Bank of Papua New Guinea (BPNG), Mr. Jeffery Yabom delivering his keynote address at the workshop.

Image 2: Asian Development Bank Consultant Mr. Jagdeep Dahiya delivered two key presentations at the workshop.

Image 3: Official Workshop Group Photo.

 

Caption: Images from the workshop.

 

Categories
Media Releases

Young Mind Savings Campaign Expands to East New Britain Schools

The Young Mind Savings Campaign (YMSC), an initiative aimed at empowering school students with essential financial literacy skills on savings and budget, and opening bank accounts, is set to be rolled out in East New Britain Province from 25th to 27th August 2025.

The initiative is part of the government’s National Financial Inclusion Strategy (NFIS) 2023–2027 and provincial engagement programmes, coordinated by the Centre for Excellence in Financial Inclusion (CEFI).

The campaign will be delivered in partnership with the East New Britain Provincial Government, with support from the Bank of Papua New Guinea and major financial sector stakeholders, including the Securities Commission of PNG, Treasury, and leading banks, superfunds, and insurance providers.

Participating institutions will include Credit Guarantee Corporation (CGC), MiBank, Women’s Micro Bank, BSP Financial Group Limited, Kina Bank, Teachers Savings and Loan Society (TISA), Kada Poroman, Nasfund, Nambawan Super, Credit Bank, East New Britain Savings & Loans, BSP Life, among other licensed financial organzsations.

Speaking ahead of the campaign, Mr Peter Samuel, Acting Executive Director of CEFI, said that school children are the leaders and entrepreneurs of the future.

Mr. Samuel stated that by encouraging a culture of saving at an early age, students would be equipped with the tools to take control of their financial future.

Over the three-day campaign, the YMSC will reach six schools within and outside Kokopo town, including:

  • Kokopo Primary School
  • Kokopo Secondary School
  • St Martin Primary School
  • Malaguna Technical School
  • Kerevat Primary School
  • Kerevat National High School

Students would take part in interactive awareness sessions, discussions with financial experts, and opportunities to open savings accounts on site.

Financial institutions would also set up booths to showcase a variety of savings products specifically tailored for young people.

The initiative directly contributes to the NFIS target of opening two million new bank accounts nationwide.

The campaign has already proven effective in two provinces last year. More than 300 bank accounts were successfully opened for school students in Milne Bay and in West New Britain.

In Milne Bay, schools visited included Koeabule Primary, Alotau Primary, Rabe Primary, Cameron Secondary, Lelehoa Primary and Goilanai Primary,and in West New Britain, participating schools included Kimbe Primary, Ruango Primary, Karl Hesse Primary, Kimbe Secondary, Kimbe International and Harrison Primary.

Both provinces have signed Memorandums of Understanding (MoUs) with CEFI, making the Young Minds Savings Campaign an important activity of their financial inclusion programmes.

Ends.

Captions:

 

Image 1: CEFI’s NFIS Implementation Coordinator, Albert Mokis (right), and Special Projects Coordinator, Tobuas Toumne, speak with St Martin’s Primary School (in Rabaul) Deputy Head Teacher, Mrs Tobata, during a school visit on Monday, 26 August 2025. The visit formed part of CEFI’s preparations for the Young Minds Savings Campaign.

Image 2: CEFI’s NFIS Implementation Coordinator, Albert Mokis (left)), and Special Projects Coordinator, Tobuas Toumne, speak with the East New Britain Savings and Loan’s Team. The visit formed part of CEFI’s preparations for the Young Minds Savings Campaign.

Image 3: CEFI’s NFIS Implementation Coordinator, Albert Mokis (seated right), and Special Projects Coordinator, Tobuas Toumne, speak with the team from East New Britain Provincial Government, Mrs. Rosemary Murure-Advisor Commerce (standing) and Mrs. Nathsa Aplin- Financial Inclusion Provincial Coordinator (seated-right). The visit formed part of CEFI’s preparations for the Young Minds Savings Campaign.

Image 4:  Students of Lelehoa Primary School opening savings accounts with BSP as part of the Young Minds Campaign in Milne Bay Province in 2024.

Image 5:  Students of Karl Hesse Primary School opening savings accounts with MiBank as part of the Young Minds Campaign in West New Britain Province in 2024.

 

Categories
News Article

CEFI Empowers IBS University Lecturers with Financial Literacy Training

The Centre for Excellence in Financial Inclusion (CEFI) successfully conducted a week-long Financial Literacy Training for lecturers at IBS University (IBSU) from 11th to 15th August.

The training, held in partnership with IBSU, aimed to enhance lecturers’ capacity to impart vital financial management skills to their students.

Mr Peter Samuel, Acting Executive Director of CEFI, in his keynote address acknowledged the efforts of both institutions in driving the programme.

He said the training reinforced the importance of practical financial education.

“This training is not only about concepts but about changing mindsets,” he explained. He highlighted the cultural and social pressures that often hinder long-term financial planning, urging participants to encourage students to adopt sustainable money management practices.

Mr Samuel added that the collaboration between CEFI and IBSU would pave the way for future partnerships with financial institutions to integrate real world financial products into education.

He concluded by commending the lecturers for their humility and commitment, describing it as “a testament to the growth of this institution and its mission.”

Professor Ramachandran, Vice-Chancellor of IBSU, in his opening remarks emphasized the importance of the initiative as part of a broader memorandum of understanding between CEFI and the university.

He said the training was important in preparing educators to understand their students’ diverse mindsets and to instill financial responsibility in future graduates. “If we do not promote financial literacy, households will continue to face poor financial planning. It is our duty to support CEFI and bring this knowledge to the community,” he noted.

Representing the female lecturers Dr Glory Sujitha Antony commended the collaboration between IBSU and CEFI, describing the training as “very effective, informative, and knowledgeable.”

She noted that participants had not only gained new knowledge but also embraced practical lessons they could apply in their personal and professional lives.

Mr Wasa Walu, who spoke on behalf of the male lecturers, stressed the importance of financial education, stating that “whatever the degree of qualification you possess, financial literacy is very important.”

He added that the programme had changed the way lecturers would approach financial awareness in their teaching.

 

Ends.

Image caption: Lecturers from IBS University participated in a week-long Financial Literacy Training facilitated by CEFI from 11–15 August, enhancing their capacity to deliver essential financial management skills to students.

Categories
News Article

CEFI and MRA Facilitate Financial Literacy Training for Tabar Island Mineral Holdings

The Centre for Excellence in Financial Inclusion (CEFI), in partnership with the Mineral Resources Authority (MRA), successfully delivered a three-day financial literacy training for representatives from Tabar Island Mineral Holdings of Simberi Mine in New Ireland Province.

The training was held from Monday 11th August to Wednesday 13th August, concluding with a certificate presentation ceremony on Friday 15th August at the CEFI Office.

In his keynote speech Mr. Rowan Rupa, Assistant Governor – Financial Market Operations Group- Bank of Papua New Guinea urged participants to adopt sound money management habits.

He warned against reckless spending, highlighting the risks of financial shocks. “Money can either help you grow or destroy you if not managed well. Saving and planning are key for future generations,” Mr. Rupa explained.

Also speaking at the mini-graduation, MRA’s Manager Project Coordinator, Mr. Pelis Vatnabar, commended the participants for their commitment.

He said the training aimed to strengthen accountability and governance in community development projects.

“The knowledge you have gained here must be used to build trust and ensure transparent leadership for your people,” Mr. Vatnabar stressed.

Mr. Jack Kwa, Training Manager with the Somare Institute of Leadership and Governance, encouraged the participants to embrace change.

Mr. Kwa told them that training alone would not be enough unless attitudes shifted.

“You must go back to your communities and demonstrate leadership through action. We don’t want business as usual, we want to see real change,” he emphasized.

Speaking on behalf of the participants, Mr. Maris Pius Vaket, Chairman – Tabar Island Mineral resource Holdings, thanked the Somare Institute of Leadership and Governance, Institute of Banking and Buiness Management and CEFI for the respective trainings his group attended during the course of the last few weeks.

Mr. Vaket made a special mention of MRA for facilitating their entire training program adding their support towards equipping the landowner group with life skills training was invaluable and appreciated.

The landowner group chairman also thanked CEFI for instilling money management skills to the group adding it was an eye opener of all of them and they are truly appreciative of the financial money management skills they have acquired.

CEFI Senior Trainer Mr. Sebastian Mugup stated that the training was part of CEFI’s ongoing programme to build financial literacy skills across Papua New Guinea, ensuring that resource-owning communities are equipped to manage income and investments responsibly.

Mr. Mugup added that participants were challenged to apply their new skills to benefit their households, institutions, and communities.

 

Ends.

Image caption: Representatives from Tabar Island Mineral Holdings of Simberi Mine in New Ireland Province participating in a three-day financial literacy training conducted by the Centre for Excellence in Financial Inclusion (CEFI) in partnership with the Mineral Resources Authority (MRA). The training was held to strengthen financial management skills and knowledge.

 

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