Category: News Article

A team from the Centre for Excellence in Financial Inclusion (CEFI), led by Acting Executive Director Mr. Peter Samuel, visited the Niu Ailan Savings and Loan Society (NAS&LS) during the week of April 2nd.

The purpose of the visit was to present the Annual Benchmark Report and Factsheet Report 2023 to NAS&LS team.

CEFI analyses and reports the quarterly financial inclusion and financial performance data received from institutions to the Bank of Papua New Guinea (BPNG) and the wider public, and through such engagements partnerships are strengthened with institutions submitting data.

CEFI’s engagement with NAS&LS emphasized the importance of accurate and timely data in producing reports. Through on site presentations, the team demonstrated how informed decisions in the financial inclusion space rely on accurate data. The discussions and presentation agenda set during the visit with NAS&LS will serve as a model for similar engagements with other institutions throughout the year.

Aligned with Papua New Guinea’s national target of opening two million new bank accounts by 2027—half intended for women—the visit reinforced efforts to advance financial inclusion across the country.

During the session, CEFI’s Senior Data Analyst, Mr. Ruruva Ane, presented the Annual Benchmark and Factsheet Report 2023, providing a comparative analysis of the society’s performance against other financial institutions.

NFIS Implementation Coordinator Mr. Albert Mokis Ahabh introduced the Financial Inclusion Mapping Tool template, guiding society staff on identifying financial access points to support policy development and expansion plans.

CEFI Acting Executive Director Mr. Samuel commended NAS&LS for their timely reporting, stressing the importance of data in identifying growth opportunities.

NAS&LS CEO Mr. John Maradangoi expressed gratitude for CEFI’s support and shared plans to extend the society’s services across New Ireland Province.

The CEFI team also met with a representative from the Economic Sector of the New Ireland Provincial Administration to explore potential partnerships aimed at boosting financial inclusion initiatives in the province.

 

Ends.

 

Image Captions:

Image 1.  CEFI Acting Executive Director Mr. Peter Samuel  (left) speaking to the NAS&LS team during their meeting in New Ireland province.

Image 2. CEFI Acting Executive Director Mr. Peter Samuel (left) and Mr. Ruruva Ane, CEFI’s Senior Data Analyst speaking to the NAS&LS team during their meeting in New Ireland province.

 

 

For further information on the work of CEFI please contact CEFI Communications Team: +675 3225300, email: lomaro@thecefi.org  or visit www.thecefi.org

 

The Centre for Excellence in Financial Inclusion (CEFI) on Wednesday, April 2nd visited IBS University (IBSU), located outside Port Moresby, to deliver a transformative Student Entrepreneurship Program. Representatives from financial institutions, including the Bank of Papua New Guinea, Nasfund, Bank South Pacific, and MiBank, joined the initiative.

In his welcoming address, IBSU Vice Chancellor Professor Ramachandran expressed gratitude for the collaboration between CEFI and IBSU, made possible through a Memorandum of Understanding (MoU). He highlighted the importance of this partnership in enabling programs such as the Student Entrepreneurship Program and thanked the participating financial institutions for their valuable contributions.

CEFI’s Manager for Financial Inclusion and Capacity Development, Ms. Jill Pijui, highlighted the MoU’s role in fostering financial literacy and entrepreneurial support at IBSU. She emphasized that CEFI would actively assist the university’s innovation hubs related to entrepreneurship, leveraging their expertise to empower students in informal, MSME, and SME sectors. Ms. Pijui also stressed the importance of personal money management, urging students to cultivate a savings habit early to secure their financial futures.

CEFI Officer Mr. Sebastian Mugup shared insights into the broader landscape of financial inclusion in Papua New Guinea. He detailed CEFI’s efforts to create partnerships with financial institutions and civil societies, promote gender equality in financial literacy, and enhance access to financial services. Mr. Mugup revealed that CEFI has trained over 200,000 Papua New Guineans since 2013, with over 50% of participants being women.

Adding depth to the program were insightful presentations from various financial institutions:

• Everlyn Mara, from the Financial Markets Division of the Bank of Papua New Guinea, shared valuable insights on investment opportunities with the Central Bank.
• Melisha Sindiwan, representing Nasfund, offered guidance on superfunds and the associated benefits of Nasfund membership.
• Jackson, from MiBank Nationwide, provided detailed information on MiBank’s range of banking products and services, including SME loans, vehicle loans, and savings accounts, among others.

The participation of these institutions added significant value to the one-day program, equipping students with practical knowledge and real-world opportunities to improve their financial well-being and entrepreneurial aspirations.

In addition to the presentations, information booths were set up outside the venue by both CEFI and MiBank, where students accessed brochures, asked questions, and engaged directly with representatives to learn more about available financial services and products.

The success of the event would not have been possible without the commitment and behind-the-scenes coordination of Mr. Sagara Wijeratne, who played a key role in ensuring a smooth and impactful program for both students and staff of IBSU and its TVET division.

This collaboration between CEFI, IBSU, and other financial institutions reflects a significant step towards equipping young minds with the tools and knowledge to build financially secure and entrepreneurial futures.

Image Caption: CEFI visited IBS University to deliver awareness sessions on Financial Inclusion and Financial Literacy Training to students as part of the IBSU Student Entrepreneurship Program. Representatives from Bank of Papua New Guinea, Nasfund, Bank South Pacific, and MiBank also were invited to participate in the program and share information on their respective organizations products and services. There was also mini information booth on display where the students had opportunity to know more about CEFI and the other financial institutions.

The Centre for Excellence in Financial Inclusion (CEFI) proudly participated in the Youth Resource Week (YRW) 2025, a dynamic five-day event held from March 24th to 28th at the Sir John Guise Stadium in Port Moresby. This impactful event, organized collaboratively by government agencies, partners, and stakeholders, brought together over 15,000 registered youths who were given access passes to engage with life-changing opportunities in education, employment, financial services, and skills training.

CEFI’s participation was made possible through an invitation extended by Mr. John Pora, a key organizer of the event. Recognizing the significance of financial literacy in youth empowerment, CEFI took the initiative to invite and host 10 other organizations within the financial inclusion space, ensuring a comprehensive representation of financial institutions and services. The participating organizations included:

1. Credit Guarantee Corporation
2. Credit Data Bureau
3. Bank of Papua New Guinea
4. TISA Bank
5. Regina Sagu Foundation
6. Nasfund
7. Mama Bank (Women’s Microbank)
8. Mibank
9. National Development Bank
10. Bank South Pacific

Led by Financial Inclusion and Capacity Development Manager Ms. Jill Pijui and Training Officer Mr. Paul Tamate, the CEFI team made a significant impact throughout the event. The team engaged directly with over 1,000 youths and interested individuals at the CEFI booth, conducting financial literacy training and awareness sessions. Through interactive discussions and informative sessions, visitors gained valuable insights into CEFI’s financial inclusion initiatives and the importance of managing their finances effectively.

To further support youth empowerment, CEFI distributed educational materials, including Financial Literacy Booklets, brochures, merchandise, and other resources. These efforts underscored CEFI’s unwavering commitment to equipping Papua New Guinea’s youth with the knowledge and skills necessary to make informed financial decisions for a secure and prosperous future.

The Youth Resource Week, spearheaded by the Youth Resource Agency and supported by the National Youth Development Authority, is a transformative initiative aimed at mobilizing the nation’s young people as a positive force for development. Inspired by Prime Minister James Marape’s vision for youth engagement, this event serves as a critical platform for connecting young individuals to opportunities that align with their aspirations and potential.

CEFI extends its heartfelt appreciation to the organizing committee, including Mr. John Pora, Youth Resource Week Key Partnerships Director; Mr. Israel Luluaki, Youth Resource Week Stakeholder Sales; Ms. Nadya Parascoe, Youth Resource Week Booth Support Management; Ms. Tae Vala, Youth Resource Week Project Lead; and the entire organizing team and sponsors. Their dedication and vision have ensured the success of this strategic event.

Looking ahead, CEFI eagerly anticipates the next Youth Resource Week, which is set to be held regionally, expanding its reach and impact on youth financial empowerment across Papua New Guinea.

Image Caption: Photo highlights of CEFI staff actively engaged with youths during Youth Resource Week at Sir John Guise Stadium, held from March 24-28. Visitors to the booth discovered the importance of financial literacy and learned about CEFI’s initiatives in driving financial inclusion.

The Centre for Excellence in Financial Inclusion (CEFI) proudly received two certificates of appreciation from the Bank of Papua New Guinea (BPNG) at the Green Finance Summit, held from March 24–26 at the Hilton Hotel in Port Moresby. The certificates recognize CEFI’s contributions to advancing green finance initiatives in Papua New Guinea.

CEFI was honored with:

• An Appreciation Certificate
  
• An Individual Certificate of Appreciation – ‘Green Finance Champion’, presented to CEFI’s Acting Executive Director, Mr. Peter Samuel.

Mr. Samuel was joined by several other distinguished Green Finance Champions:

• James Ellerman (ANZ)
• Methuselah Eka Warbiria (BSP)
• Prabhash Ranjan (Women’s Micro Bank)
• Wong Khar Fye (Kina Bank)
• Pelina A Daniels (MiBank)
• George Awap (BPNG)
• Debra Sungi (Climate Change Development Authority)
• Roddie Wada (Department of Treasury).

Certificates of appreciation were also presented to the following organizations for their support towards the Green Finance Summit, Global Green Growth Institute (GGGI), World Bank International Finance Corporation (IFC), United National  Development Programme (UNDP), International Monetary Fund (IMF), Alliance for Financial Inclusion (AFI),  Climate Change Development Authority (CCDA), Australia Government Department of Foreign Affairs and Trade, Agence Francaise de Development 9AFD), United Nations Capital Development Fund (UNCDEP), Asian Development Bank (ADB) and New Zealand Ministry of Foreign Affairs and Trade (MFAT) and Hilton Hotel.

During the gala dinner and awards presentation, Papua New Guinea’s Prime Minister, Hon. James Marape, celebrated the progress of green finance, highlighting the collaborative efforts of organizations and individuals in making sustainable finance more accessible. The Prime Minister stated, “Two years ago, we embarked on this journey, and it’s certainly pleasing to note the maturity of what was started two years ago. I just want to step back and commend the Central Bank for their good leadership in this space.”

The Bank of Papua New Guinea, the Head of Green Finance Centre Mr. Mohinesh Prasad, and the Global Green Growth Institute were acknowledged and congratulated for successfully hosting the inaugural Green Finance Summit 2025, marking a significant step toward sustainable financial initiatives.

Image captions:

Image 1: CEFI Acting Executive Director Mr. Peter Samuel receiving his Certificate  of Appreciation – ‘Green Finance Champion’  from Papua New Guinea Prime Minister Hon. James Marape, at the Green Finance Summit Gala Dinner.

Image 2: CEFI Acting Executive Director Mr. Peter Samuel proudly showing his Certificate  of Appreciation – ‘Green Finance Champion’  at the Green Finance Summit photo booth.

Image 3: CEFI Acting Executive Director Mr. Peter Samuel (4th from right with his staff showing the certificates presented to CEFI in recognition of its contributions to advancing green finance initiatives in Papua New Guinea.

 

Port Moresby, Papua New Guinea – The Centre for Excellence in Financial Inclusion (CEFI), in collaboration with the Young Port Moresby Chamber of Commerce and Industry (YPOMCCI), successfully facilitated a two-day Financial Literacy Training for young people on February 27-28 at Lamana Hotel, Port Moresby.

The training saw the participation of 21 individuals, including four females, from various working backgrounds. Participants included a mixture of backgrounds from universities, business colleagues, SME businesses and corporate organizations.

Shannie Huambi, a 21-year-old Compliance Officer employed by Kutmor, shared her experience, stating that her financial behavior pattern prior to attending the training needed improvement. “From what I have learned during the training, I’d have to practice managing my finance by saving and budgeting,” said Shannie in an interview with CEFI. Commenting on the benefits of the training, she added, “I now have a better understanding and knowledge regarding budgeting my income.”

Shannie also acknowledged the technical aspects of the training, confidently stating that she is now in a better position to educate her friends, family, and colleagues on what she learned. “I believe that by setting a good example for my family and friends by practicing what I learned on ,savings and budgeting will be beneficial for everyone,” she said.

YPOMCCI President Mr. Charlie Hulijeli expressed gratitude to CEFI for facilitating the training and commended the participants for their attendance and engagement. “I’m sure the training you all went through will benefit your individual lives, whether personally or professionally. And I like that your expectations were met, which is something rare in many trainings,” Mr. Hulijeli told the participants at the mini graduation ceremony.

“This is the first time we’ve organized a training session for YPOMCCI members, and your turnout over the last two days encourages us to host more trainings like this for our members. Thank you all. I believe we will host more trainings like this with CEFI or other financial institutions throughout the year,” he added.

The YPOMCCI has identified the positive impact of the Financial Literacy Program facilitated by CEFI. Recognizing the importance of financial literacy, particularly for young professionals and entrepreneurs, YPOMCCI aims to support initiatives that enhance financial management skills and business acumen.

As a non-profit sub-committee committed to providing a platform for young professionals and entrepreneurs, YPOMCCI acknowledges the need for financial education. The proposed training was designed to equip participants with the necessary tools to effectively budget their finances and develop their business start-ups with confidence.

 

For further information on the work of CEFI please contact CEFI Communications Team: +675 3225300, email: lomaro@thecefi.org  or visit www.thecefi.org

Ends.

Image Captions:

Image 1.   Training participants pose for a group with CEFI Training Officer Mr. Paul Tamatai (5^th from left-backrow) and guests at the end of the mini certificate presentation.

Image 2. Shannie Huambi, proudly showing her certificate after she successfully completed the two day Financial Literacy Training.

Image 3. Group activities were part of the training prerequisites. Seen here is a presentation done by a group.

Image 4: Group discussions were part of the training prerequisites. Seen here participants in volved in group discussions.

Image 5: CEFI Training Officer Paul Tamate during a session.

Image 6: YPOMCCI President Charlie Hulijeli, presenting a female participant her certificate during the mini graduation ceremony.

Image 7: YPOMCCI President Charlie Hulijeli, presenting a male participant her certificate during the mini graduation ceremony.

 

 

The Centre for Excellence in Financial Inclusion (CEFI) was honoured to contribute to the Leaders and Managers Retreat 2025 organized by the Office of the Public Solicitor, the retreat from 20^th to 24^th  January in Lae, Morobe Province.

This initiative aimed to strengthen managerial skills, enhance financial literacy, and build leadership skills among senior management and senior legal officer from various provinces including Morobe, Port Moresby (NCD), Goroka (Eastern Highlands Province), Wewak ( East Sepik Province), Vanimo ( West Sepik Province) , Kokopo ( East New Britain Province), Kimbe ( West New Britain Province)  Mt. Hagen (Western Highlands), and the Autonomous Region of Bougainville.

CEFI played a key role in delivering a comprehensive financial literacy training, covering essential topics such as Savings, Budgeting, Insurance, and Investment. During the closing ceremony, CEFI’s Acting Executive Director, Mr. Peter Samuel, together with Public Solicitor Mr. Leslie Mamu, awarded Certificates of Participation to 44 participants, including eleven women. The training equipped attendees with practical knowledge on managing household finances, making informed financial decisions, and securing their financial future.

In his speech, Mr. Samuel commended the Office of the Public Solicitor under the leadership of Public Solicitor, Mr. Leslie Mamu for spearheading a transformative leadership and management program that seamlessly integrates financial literacy into management and leadership capacity building. He emphasized the crucial role of financial literacy in achieving both personal and organizational goals and reaffirmed CEFI’s dedication to fostering capacity development across Papua New Guinea and beyond and for CEFI to continue to support more of these initiatives.

The retreat also featured distinguished presenters and guest including Dr. Seth Fose on Personal Health and Wellness, Mr. John Cholai on Leadership Effectiveness, Mr. Seremia Waqainabete, Director Fiji Legal Aid Commission on Organizational Structures, and   Mr. George Gray, Solomon Island Public Solicitor on Wantok Legal Network programs.  These sessions further enriched the participants’ understanding of health, leadership, and institutional development.

This collaborative effort highlights the Public Solicitor’s Office’s dedication to professional excellence and capacity building within its staff.  Through strategic partnerships like this, CEFI reinforced the importance of deepening financial inclusion through financial literacy, empowering individuals to achieve both personal and professional success.

Images:

 

The Centre for Excellence in Financial Inclusion (CEFI) and the Build Bougainville Foundation Incorporated (BBFI) signed a Memorandum of Understanding (MoU) which will see both organizations establishing a partnership to roll out Financial Literacy Training in areas where BBFI is engaged and are concerned with creating financial inclusion.

The signing of the MoU on November 12 signifies an important mile stone for the foundation to reach out to its unbanked population with financial literacy education.

According to the foundation’s Chairman and CEO Mr. Romano Vandenberg, 98% of the Bougainville population are rural farmers, who need the financial literacy programme to enhance their financial lives.

Mr. Vandenberg stated that an agriculture economic boom in the autonomous region has triggered the need for his people to be educated on how to look after all their income generated through this farming practices.

“I’m happy that we have signed this MoU with CEFI to train Bougainvilleans. The financial literacy programme will also benefit our SMEs,” he added.

The MoU will enable the financial literacy trainings to be conducted in communities, schools and Women Associations Groups in Buka, where BBFI is currently engaged and support will be given to boost financial inclusion activities within the region.

Executive Director Mr. Saliya Ranasinghe stated that CEFI looked forward to working with BBFI during the three years to implement the activities outlined in the MoU.

“We are looking forward to working with BBFI to bring this important change to the lives of Bougainvilleans and to give them an opportunity to prosper. This is the starting point where we can impart this knowledge on financial well-being with the people of Bougainville & see how the positive impact it will have on the people,” Mr. Ranasinghe said.

Deputy Executive Director Mr. Peter Samuel in his closing remarks stated that much of what CEFI and BBFI will be doing is complementing the existing financial institutions that are operating in the region.

“The access is there but the usage will be a problem, and that’s where the training will come to enable our people to start using the financial services to empower themselves,” Mr. Samuel said.

“The financial literacy programs will enable them to have a mindset change, and that’s what we want. This partnership is critical that we start to change mindset in how they use their money, how they spend their money, and how to budget their money,” Mr. Samuel added.

Ends.

 

For further information on the work of CEFI please contact CEFI Communications Team: +675 3225300, email: lomaro@thecefi.org  or visit www.thecefi.org

 

Ends.

Captions:

Image 1:

CEFI Executive Mr. Saliya Ranasinghe and BBFI Chairman and CEO Mr. Romano Vandenberg shake hands to confirm both organization’s commitment to work together in partnership to roll out financial inclusion in the autonomous region of Bougainville.

Image 2:

CEFI Executive Mr. Saliya Ranasinghe and BBFI Chairman and CEO Mr. Romano Vandenberg sign the MoU documents at the CEFI Office in Port Moresby.

Image 3:

CEFI Deputy Executive Director Mr. Peter Samuel signing the MoU as a witness.

Image 4:

PNG Sports Foundation CEO Mr. Micah James signing the MoU as a witness.

Image 5:

CEFI Executive Mr. Saliya Ranasinghe and BBFI Chairman and CEO Mr. Romano Vandenberg briefly discussing the details of the MoU before the signing of the documents.

Image 6:

CEFI Executive Mr. Saliya Ranasinghe and BBFI Chairman and CEO Mr. Romano Vandenberg briefly discussing the details of the MoU before the signing of the documents.

Image 7:

CEFI Executive Mr. Saliya Ranasinghe and BBFI Chairman and CEO Mr. Romano Vandenberg sign the MoU documents at the CEFI Office in Port Moresby.

Image 8:

CEFI, BBFI, and PNG Sports Foundation staff pose for a group photo following the MoU signing.

Image 9:

CEFI Deputy Executive Director Mr. Peter Samuel speaking with BBFI Chairman and CEO Mr. Romano Vandenberg.

 

 

 

The Regina Sagu Foundation (RSF) will deliver its first financial literacy training in Wabag, Enga province next month following four of its staff successfully completing a Training of Trainers Training in Port Moresby recently.

The group were among 29 trainees including 19 women who were certified by CEFI after completing a five day Financial Literacy (FL) ToT training from November 04-08.

The four RSF team members are foundation president Mrs. Grace Barton Ma’ai, vice president Ms. Rosemary Koimbo and two employees Rhoda Kore and Tommy Aiyok.

The training is a part of a MoU the foundation signed with CEFI in October this year which will enable RSF to deliver financial literacy training to women SME’s in Enga province, other Centres of PNG and in the National Capital District.

A proud vice president Ms.Rosemary Koimbo acknowledged the partnership stating that the foundation will work together with CEFI in achieving the national goal that is to convert 2 million unbanked, low income Papua New Guineans to have bank accounts with females making up half of that number.

“We have an active role to play towards achieving that goal by delivering financial literacy to the rural mothers and the rest of the unbanked population,” Ms. Rosemary Koimbo encouraged the trainers.

 

Foundation president Mrs. Grace Barton Ma’ai challenged the participants to go back and empower their people to use money wisely by having a savings plan and goal to alleviate poverty in the long run.

The main objective of the FL ToT training was to equip and empower employees, partners, stakeholders, SME and individuals attached with RSF the training techniques and personal money management skills so they can be able to transfer the skills and knowledge to others.

CEFI Executive Director Mr. Saliya Ranasinghe stated that as certified trainers they had a responsibility to educate their community on savings and budgeting in order to improve their way of life.

“You are going to be agents of change and role models to your own community. Take this knowledge of financial literacy education to your people and impact their lives so they will have a better standard of living,” Mr. Ranasinghe said.

The five-day Training of Trainers course in financial literacy successfully equipped 29 participants with advanced skills in delivering fundamental concepts and principles of savings and budgeting, particularly within a household context.

This intensive program, culminating on Friday the 08th November, 2024, with a formal graduation, will empower these individuals with a certification that enables them to effectively train others within their respective organizations or communities.

This milestone not only signifies their personal achievement but also marks the beginning of their pivotal role in fostering financial literacy and empowering households to achieve better financial stability.

Ends.

For further information on the work of CEFI please contact CEFI Communications Team: +675 3225300, email: lomaro@thecefi.org  or visit www.thecefi.org

 

Captions:

Image 1:

Group photo of ToT trainees with CEFI and RSF staff and management following the brief presentation ceremony.

Image 2:

Foundation president Mrs. Grace Barton Ma’ai presenting Mr. Bernard Panzu his certificate. Mr. Panzu a graduate accountant and currently study for his second degree at Divine Word University, travelled in from Madang to attend the five day ToT training.

Image 3:

CEFI Executive Director Mr. Saliya Ranasinghe presenting Ms. Faith Barton, Principle Emunah Legal, her certificate after successfully completing the five day ToT Training.

Image 4:

Foundation President Mrs. Grace Barton Ma’ai presenting Mr. Jason Lyambi, a Lawyer with Emunah Legal, his  certificate.

Image 5:

CEFI Executive Director Mr. Saliya Ranasinghe presenting Ms. Doreen Amani, self-employed manager of DOT Cleaning, her certificate after she successfully completed the five day ToT training.

Image 6:

RSF Vice-President Ms. Rosemary Koimbo, speaking to the ToT trainees at the closing of the five day ToT training.

Image 7:

RSF Vice-President Ms. Rosemary Koimbo.

Image 8:

RSF President Ms. Grace Barton Ma’ai.

Image 9:

CEFI Executive Director Mr. Saliya Ranasinghe.

 

PinBox, a global social pensionTech and digital micro-pension inclusion innovation, administration and expert advisory services firm, will work in collaboration with CEFI in promoting mass scale voluntary subscription in micro pension and insurance products in Papua New Guinea. pinBox is already working in over half-dozen countries in Asia and Africa to support pension inclusion for non-salaried informal sector workers.

 

This partnership signed through a Memorandum of Understanding (MoU) between both organisations will run for three years where both parties will work together to promote the products through guidelines set out in the MoU.

 

The Bank of Papua New Guinea (BPNG) recently granted pinBox entry into the BPNG Regulatory Sandbox to customize and pilot test its innovative digital-micro-pension administration and delivery platform and inclusion model to help expand voluntary uptake of superannuation, insurance and micro-savings products among MSMEs, self-employed women, informal sector workers and farm communities.

 

pinBox is accordingly working with BPNG, Nasfund, ASFPNG, development partners, micro-banks, payment gateways and other digital financial inclusion stakeholders under the Project to promote micro-pension and insurance concepts and products.

 

At a brief but very significant signing ceremony, both organizational heads expressed their excitement in working together to introduce superannuation and insurance awareness and knowledge to the self0employed population of the country.

 

“The pinBox team is delighted to be partnering with a highly respected and forward looking institution like CEFI on expanding superannuation and insurance coverage among self-employed women, youth and micro-enterprises in Papua New Guinea,” said pinBox Solutions co-Founder and director Gautam Bhardwaj. “It is a privilege to be working with an agency that has continued to play such a pivotal role in financial inclusion and in driving not only policy but also ground level impact in this area in PNG,” added Mr. Bhardwaj.

 

In response, CEFI Executive Director Mr. Saliya Ranasinghe stated that this was a very important programme that both organisations will be venturing into because they will educate the informal sector workforce on micro-pension and insurance products through effective communication, training, financial literacy tools and strategies.

 

“We are delighted to partner with pinBox and to get this important strategy into the mainstream of Papua New Guinean informal sector”, said Mr. Ranasinghe. “We will be working in two provinces to start with on a pilot basis, and then, based on the lessons learned, we will be expanding the field-tested model and strategy to other provinces where informal sector workers and their families will benefit and will start saving for their retirement” Mr. Ranasinghe added.

 

One of the joint obligations of both CEFI and pinBox is to customize the pinBox retirement literacy and training toolkits for PNG for deployment under this project. The toolkits include calculators, FAQs, trainer handbooks, leaflets, flipcharts and educational videos. Both organisations will also design new, effective promotional and publicity materials as well as other training and financial literacy tools for use by field staff during field-meetings with target beneficiaries.

 

Visit www.pinboxsolutions.com to find out more about pinBox Solutions.

 

For further information on the work of CEFI please contact CEFI Communications Team: +675 3225300, email: lomaro@thecefi.org  or visit www.thecefi.org

 

 

Ends.

 

Captions:

Image 1: CEFI Executive Director Mr. Saliya Ranasinghe (right) and PinBox Co-Founder and Director Mr. Gautam Bhardwaj discuss the details of the partnership during the MoU signing at on Tuesday 05^th November at the CEFI Office.

Image 2: CEFI Executive Director Mr. Saliya Ranasinghe (right) and PinBox Co-Founder and Director Mr. Gautam Bhardwaj sign the MoU at the CEFI Office, Tuesday 05^th November, 2024.

Image 3: CEFI Executive Director Mr. Saliya Ranasinghe (right) and PinBox Co-Founder and Director Mr. Gautam Bhardwaj shake hands following the MoU signing CEFI Executive Director Mr. Saliya Ranasinghe (right) and PinBox Co-Founder and Director Mr. Gautam Bhardwaj.