Category: News Article

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 11^th 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.

 

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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.

 

The Centre for Excellence in Financial Inclusion (CEFI) completed a five day Training of Trainers (TOT) program for the Department of Treasury’s Labor Mobility Unit at the CEFI office in Port Moresby.

The initiative was part of the Labor Mobility Unit Worker Preparedness Program, aimed at ensuring Papua New Guinean workers heading to Australia and New Zealand are financially equipped to manage their earnings responsibly and sustainably.

Participants included Regional Hub Coordinators from the Highlands, Momase, New Guinea Islands, and Southern/Central regions, as well as three Assistant Directors and other LMU officers from NCD.

Fourteen officers including six      females took part in the training, representing Lae, Mount Hagen, Bougainville, East New Britain, West New Britain, Abau/Central Province, Simbu, and NCD.

On Friday 08^th August, 2025 a mini graduation ceremony was held to certify the 14 officers who sucessfully completed the week long training.

Manager of the Corporate Affairs Department – Bank of Papua New, Mr Jerome Peniasi, congratulated the graduates and noted the importance of financial literacy as a necessity rather than a luxury. He explained that the training focused on two core components: savings      and budgeting with the aim of turning seasonal workers into financial literacy champions capable of turning income into investments and sustainable livelihoods. He underlined LMU’s target of facilitating temporary overseas employment for 8,000 citizens annually by 2025, stressing that financial education was key benefiting families and communities in PNG.

Director of the LMU Ms. Hakaua Harry described the event as an important     step in building staff capacity to better prepare workers heading to seasonal jobs overseas. She credited the World Bank for initiating the programme and emphasized that financial literacy would empower coordinators to train others in budgeting and savings. “We are preparing our people to know how to manage their money before they leave,” she said, adding that this was important for long-term benefits beyond the work contracts.

World Bank representative Mr Thomas Walker commended the participants, highlighting the organization’s commitment to supporting labour mobility initiatives in PNG. Drawing on regional research, he observed that workers’ outcomes vary greatly depending on their preparation. “Some save and build futures; others return with little to show,” he said. He urged graduates to extend their training not only to workers but also to families and communities, reinforcing that saving and money management are important      for resilience and poverty prevention.

Also present to witness the    graduation was CEFI’s Acting Executive Director Mr. Peter Samuel.

Speaking on behalf of the participants, Ms Ellen Morgan described the week as “challenging but fun,” noting that the training provided structured methods to deliver financial literacy sessions not only to workers bound for Australia but also to their families, youths, and women in their communities. She emphasized the role of financial skills in nation-building, adding that families play a critical role in supporting workers to achieve long-term goals.

Mr Stoney Yanopa, LMU Coordinator for Sinaiseo District, Chimbu Province, said the training was personally beneficial, teaching him to budget and prioritise needs over wants. He expressed hope that the knowledge would help returning workers start small businesses and improve their standard of living. Mr Yanopa urged LMU to continue offering such training, describing coordinators as “the eyes and ears” in communities who can deliver financial literacy where it is most needed.

Ms Lynna Joel, Training and Skills Development Manager, thanked CEFI, facilitators, drivers, and LMU leadership for their support. She encouraged graduates to apply their training plans and extend the knowledge to families as well as workers. “You are now equipped with the certificate to go in and train,” she said, urging participants to sustain their commitment.

The TOT program successfully equipped LMU officers with both the technical knowledge and facilitation skills needed to deliver financial literacy training within their regions.

By strengthening the capacity of these coordinators, CEFI and its partners have contributed to ensuring that PNG workers participating in labor mobility schemes are better prepared to make informed and sustainable financial decisions abroad.

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Image caption: The training brought together participants from the Labour Mobility Unit who engaged in interactive learning activities and practical exercises (pictured). The programme concluded with a mini graduation ceremony where participants proudly received their certificates of participation, marking a significant step towards strengthening financial literacy capacity for Papua New Guineans working abroad.

The Centre for Excellence in Financial Inclusion (CEFI) was invited as a guest speaker and mentor to deliver an in-person information and awareness session at the inaugural Western Pacific University (WPU) Pitch Competition 2025, on Friday 01^st August.

This initiative was part of WPU’s broader goal to integrate sustainable business education and practical entrepreneurial skills for its students under the theme “Eco-Enterprise PNG: Innovative Solutions for a Sustainable Future.”

Mr. Paul Tamate, CEFI Training Officer, who stated that CEFI’s participation was part of the university’s broader goal to integrate sustainable business education with practical entrepreneurial skills. Themed “Eco-Enterprise PNG: Innovative Solutions for a Sustainable Future,”

Participants included 20 students from the CHEFS (Certificate in Higher Education Foundation Studies) and WPU lecturers and faculty members.

According to Mr. Tamate, the session aimed to build awareness on the critical role of financial literacy in fostering innovative and sustainable business development, particularly within eco-enterprise models relevant to Papua New Guinea.

Topics covered included the concept of financial viability, links between financial literacy and the Sustainable Development Goals, examples of financially viable eco-enterprises, and key steps in building them.

Presenters also shared local case studies such as Abus Na Kumu and Global Products Sourcing & Distribution to illustrate successful approaches. Students engaged in two practical activities creating a simple savings plan and drafting a basic budget to reinforce the role of sound financial management in sustainability.

The session also aligned with WPU’s mentoring themes, covering sustainable business model development, market validation, investment readiness, and networking.

According to CEFI, feedback from the event was overwhelmingly positive. Students expressed renewed commitment to saving, interest in investment opportunities, and plans to open personal savings accounts. University staff requested that banks consider installing an ATM or agent banking point on campus to serve both the institution and nearby communities.

CEFI’s engagement at WPU effectively highlighted the relevance of financial literacy to eco-enterprise development and broader sustainable economic growth.

The session strengthened CEFI’s outreach to emerging young entrepreneurs and showcased its role in empowering students with the knowledge and tools to pursue financially sound and sustainable business ventures in PNG.

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Image caption: Students at Western Pacific University present their group work during the inaugural WPU Pitch Competition 2025. The CEFI was invited as a guest speaker and mentor to deliver an in-person information and awareness session on Friday, 1st August.

 

The Centre for Excellence in Financial Inclusion (CEFI) successfully delivered a week-long Financial Literacy Training at the K92 Mining site in Kainantu, Eastern Highlands Province, from 7^th to 11^th July 2025.

The training was conducted following a request by K92 management, based at their Brisbane Head Office, who raised concerns about the increasing number of employee staff advance requests. The company identified this trend as a sign of poor personal financial management and sought to address it through targeted education.

Over the course of the week, five separate training batches were held at the China Harbor Engineering Conference facilities within the mine premises. Employees from various departments, including Processing Plant, Health and Safety, Human Resources, Administration, and Engineering, took part in the sessions.

Each daily session focused on practical financial literacy topics such as budgeting, saving, banking plans, income and expense tracking, cash flow management, and the importance of keeping financial records. The sessions were designed to be engaging and directly relevant to the financial realities of the participants.

Participants actively engaged in discussions and activities throughout the sessions. Many expressed appreciation for the training, noting it provided them with a clearer understanding of their spending habits and the importance of planning.

The trainees acknowledged that the workshop served as a much-needed wake-up call and committed to making positive financial changes.

A total of 49 participants including 13 females completed the training across the five batches.

The training was praised as a timely and impactful initiative, equipping K92 employees with essential money management skills.

The participants indicated strong interest in future refresher sessions to reinforce what they had learned and to continue fostering financial responsibility in the workplace.

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Image Caption: CEFI successfully delivered a week-long Financial Literacy Training at the K92 Mining site in Kainantu, Eastern Highlands Province, from 7 to 11 July 2025. The images show K92 employees actively participating in the training sessions.

 

Staff from the Bank of Papua New Guinea (BPNG) were given a practical refresher on budgeting, saving, and financial planning during a Financial Literacy Awareness session delivered by the Centre for Excellence in Financial Inclusion (CEFI) on Friday 18^th July 2025.

Acting Executive Director of CEFI, Mr Peter Samuel, opened the session by emphasizing the need for mindset change regarding financial habits. He pointed out that many individuals, especially those on regular salaries, fall into the trap of relying on loans without properly considering the long-term impact of deductions on their savings. Mr Samuel urged participants to take the knowledge back to their communities, noting that financial literacy training should not stop at the individual but ripple outwards to families and peers.

The main presentation was delivered by Mr Sebastian Mugup, Senior Trainer at CEFI, who has over a decade of experience championing financial education across the country. Mr Mugup explained that budgeting and savings form the foundation of financial independence, especially for small businesses and rural communities. He introduced the six core modules of CEFI’s financial literacy training, with an emphasis on savings, household budgeting, tracking expenses, managing seasonal income, promoting financial services, and fostering a culture of savings in the community.

Mr Mugup stressed that saving money is not about how much one earns, but how well it is managed. He walked participants through practical strategies to develop savings plans, set financial goals, and link rural populations to formal financial institutions. He also spoke of the importance of educating school children early on financial matters and outlined CEFI’s ongoing efforts to integrate financial literacy into the national school curriculum.

The session concluded with BPNG’s Corporate Services Department Manager, Mr Jeroma Peniasi, expressing gratitude to Mr Samuel and Mr Mugup for their insightful presentation.

He highlighted the relevance of such training, particularly as BPNG staff engage in outreach activities abroad and at home, promoting smart money habits and empowering communities through improved financial awareness.

 

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Caption: Images showing Acting Executive Director of CEFI, Mr Peter Samuel and Mr Sebastian Mugup, Senior Trainer at CEFI, conducting Financial Literacy Awareness with BPNG Staff.

More than 80 smallholder cocoa farmers in Pomio District, East New Britain province, have received essential Financial Literacy Retail Training as part of a community development initiative aimed at strengthening economic resilience and sustainable farming practices.

The week-long programme, which ran from 21st to 26th June 2025, was delivered at the Pomio Local Level Government (LLG) Chamber of Commerce.

The training was part of a collaborative effort between the Centre for Excellence in Financial Inclusion (CEFI) and the United Nations Development Programme (UNDP) under the GEF-7 FOLUR Project. The initiative supports integrated land use planning across New Britain Island and seeks to improve both environmental sustainability and local livelihoods.

The training was a direct follow-up to a Training Needs Analysis conducted in February 2025. That analysis helped identify the learning gaps in the local communities and enabled the development of tailored materials suited to the educational needs of rural farmers.

The training targeted communities from MarMar, Sali, Pomio, Galuwe, Olaipun 1, and Olaipun 2. Participants were divided into three batches over the course of the week. A total of 83 individuals were trained including 34 women, with each batch attending seven core sessions. These sessions covered topics such as budgeting, saving, investing in farming, tracking cash flow, and accessing financial services.

The objective of the programme was to empower farmers to take control of their finances by reflecting on their spending habits, creating family and farm savings plans, and practizing basic record-keeping. Participants also explored how savings could be reinvested into their farms and how to identify appropriate financial services and loan opportunities.

The training laid a solid foundation for more sustainable financial decision-making and farming practices promoting inclusive economic participation across the Pomio District.

The training has been welcomed as an important step forward in equipping rural farmers with practical skills to improve their livelihoods and contribute to long-term community development.

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Caption: Images showing small holder cocoa farmers part taking in the Financial Literacy Retail Training.

The Centre for Excellence in Financial Inclusion (CEFI) as the Private Sector Organization (PSO) managing BLP Programme in Port Moresby, recently held two in-house sessions aimed at enhancing business advisory services and raising awareness among small and medium enterprises (SMEs) in Papua New Guinea.

On Tuesday 1^stJuly , representatives from more than 10  BLP approved Business Advisory Service Providers (BASPs) attended a half-day refresher session in Port Moresby.

These BASPs were;

1. Nevielly Kavop – SNS Tech
2. Gerard Habitein – SNS Tech
3. Maxwell Maina – SNS Tech
4. Henry Osi – Link Sustainable Eco Deal
5. Jacinta Mimigari – Link Sustainable Eco Deal
6. Keslyn Wabiyaui – Khay Consultancy Services
7. Patricia Kwalahu – Beach Accounting Advisors Limited
8. Charlotte Pa’asia – Beach Accounting Advisors Limited
9. Bede Tomokita – Madawa’a Integrated Farming
10. Pius Kuku – PK Business Advisors
11. Kopi-Like Grammon – KLG & Co. Business Consultants
12. Emmanuel Bogino – EB & Associates
13. Asing Bogomos – Melton Consulting
14. Kure Erick – Kina ZB

The event was led by Mr. Gabriel Iso, BLP’s Country Coordinator in PNG, and focused on the BLP’s subsidy process.

The session served not only as a refresher but also provided an opportunity for BASPs to reflect on and discuss the challenges they face in delivering business advisory services. The participants explored solutions and alternatives to overcome these hurdles, while also strengthening their professional networks.

Mr. Iso encouraged BASPs to use such sessions as a collaborative space to exchange insights and explore collective approaches to serving SMEs. Attendees called for similar sessions to be held regularly, emphasizing the value of shared dialogue in improving their support for local businesses.

The following day, Wednesday 2^nd July, BLP hosted an awareness session targeting SMEs. Ten entrepreneurs participated in the session held from 10:30am to 12:00pm.

These entrepreneurs were;

 

1. Pleasant Wear
2. Nagaruu Sisters’ Cooperative Society
3. Boutique
4. Denani Designs
5. Tye Dye Fabrics
6. Jojoz Kolos – Online Business
7. Thia’s DIY
8. Hyang Limited
9. Kwilah Limited
10. SME Centre Limited

The event aimed to educate participants about the range of business support services offered by BLP and to guide interested SMEs through the process of undergoing Business Diagnostics.

All ten SMEs left the session with a clearer understanding of how BLP could assist their business development. While two participants indicated they were not yet ready for diagnostics due to incomplete business formalization, seven SMEs proceeded with the diagnostics during the session.

Participants expressed appreciation for the opportunity to engage directly with BLP and gain access to vital resources that could support their growth.

These sessions mark a continued effort by CEFI to support the BLP programme to strengthen the capacity of business service providers and empower SMEs throughout PNG.

Captions:

Image 1: Business Advisory Service Providers who attended the refresher session to share insights, strengthen networks and enhance SME support.

Image 2: Local entrepreneurs who joined the SME awareness session, learning how BLP’s diagnostics and support services can drive their business growth.

 

 

 

 

Coinciding with International MSME Day, the inaugural Business Link Pacific (BLP) Advisory Panel Meeting was held on Monday 30th June, bringing together key stakeholders, financial institutions, development partners, and SME owners to recognize BLP’s role in advancing small and medium-sized enterprises in Papua New Guinea.

Speakers at the meeting highlighted the important role of micro, small, and medium-sized enterprises (MSMEs) in Papua New Guinea’s economic growth and the contribution of the New Zealand-funded programme, BLP, in supporting MSME development.

His Excellency Peter Zwart, New Zealand High Commissioner to Papua New Guinea, delivered opening remarks describing the SME sector as a cornerstone for inclusive and broad based economic development. He emphasized that while large-scale resource extraction and public sector activities were important, it was SME that offered greatest potential to grow employment and opportunity for the majority of Papua New Guineans.

“SMEs are essential for achieving national economic goals, connecting rural communities to markets and providing viable livelihoods for women, youth and those traditionally excluded from formal employment.”

He commended BLP’s integrated approach to business advisory and financial services, encouraged continued ambition and adaptability.

Acting Executive Director of the Centre for Excellence in Financial Inclusion (CEFI), Mr. Peter Samuel, delivered the closing remarks, highlighting BLP as a uniquely practical and operational model that bridges a major gap in the government’s support mechanisms for SMEs. He acknowledged that although CEFI’s traditional focus is not SME development, the success stories shared during the meeting offered a compelling case to expand their mandate.

“The journey of Richard, who turned a roadside hobby into a top-tier restaurant, demonstrates the kind of passion, perseverance, and structural support our SMEs need,” he said. Mr Samuel stressed the need for future sessions to include both success stories and those still struggling, stating that learning from both triumph and hardship would better inform policy and practice. He also encouraged financial institutions to reflect more deeply on their relationship with SME clients and their unique challenges.

The meeting also featured a testimony sharing session, where four local SME owners shared how BLP had positively impacted their businesses.

Mrs. Kopi Like-Grammon, owner of KLG & Co. Business Consultants, shared her journey as a Business Advisor since 2019. “Through BLP, I’ve supported many businesses to formalize helping them register, set up bookkeeping systems, and transition to cloud accounting,” she explained. “We’ve worked closely with institutions like CEFI and banks to ensure our clients are compliant and loan-ready. Patience and compliance are key for long-term success.”

Mr Richard Mark, founder of Abus Na Kumu, shared how a BLP grant transformed his food venture. “With close to half a million kina in BLP grant funding (used as loan equity), we went from selling food by the roadside to building one of PNG’s leading catering businesses,” he said. “BLP trusted and believed in us. Their support connected us with financial and accounting experts, and helped build a resilient and sustainable foundation.”

Mr Billy Gawi, a wood carver and designer, recounted how a K30, 000 loan from Women’s Micro Bank, facilitated through BLP funding, kept his small business afloat. “I now employ 36 young people from Port Moresby in places like Eight Mile and Kuriva. Our carvings are sold at Boroko Market and even government departments,” he said. “More than just business, we train unemployed youth, paying their wages and school fees.”

Ms. Benitta Napitalai, owner of Qweens Collection, described how BLP’s subsidy supported her bilum-making enterprise. “Our business needed an online platform to reach more markets. With BLP’s subsidy, we worked with SNS Technology to build an integrated e-commerce website. Now, we’ve attracted customers from Australia and New Zealand, creating income for women in the Eastern Highlands,” she shared.

Mr. Richard Busby, BLP’s Senior SME Banking Specialist, provided an update on BLP’s progress and future plans. He acknowledged BLP’s strong collaboration with its two key banking partners in Papua New Guinea, their instrumental role in delivering concessional and wholesale capital loan programmes to SMEs.

“We’ve seen the successful rollout of several SME loans and the upcoming launch of two new energy finance products,” he said. “These initiatives, including green and renewable energy financing, reflect BLP’s goal to unlock access to finance.”

Mr Busby also praised the in-country BLP team for their coordination and outreach, particularly in regions such as the Autonomous Region of Bougainville.

From the banking sector, Mr Wong Khar Fye, General Manager for SME & Specialized Lending at Kina Bank, outlined Kina’s partnership with BLP, which began in 2021. “As a bank that started small, we understand the struggles of SMEs. Our partnership with BLP allowed us to refer clients to BLP advisors when they weren’t ready for a loan, giving them a chance to come back stronger,” he said.

Mr Fye announced that Kina Bank had supported nearly 30 SMEs with K3 million in lending and unveiled two upcoming products SME Green and SME Every Business Loan which will align with BLP’s concessional lending framework.

Also addressing the gathering was Mr. Prabhash Ranjan from Women’s Micro Bank, who highlighted the bank’s focus on women entrepreneurs, who make up 80% of their 130,000-strong customer base. “Our partnership with BLP enables us to do more than offer loans. We support clients with business advisory services, capacity building, and financial literacy,” he stated. “From catering to tourism, retail to renewable energy, the collaboration has helped businesses across PNG. We encourage SMEs to continue innovating and engaging with us.”

The meeting also featured presentations by Smitha Shanberg, BLP’s Business & Stakeholder Manager, and Gabriel Iso, Lae-based BLP Business Services Manager, who provided updates on ongoing regional outreach and capacity-building efforts across the regions.

 

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

 

Image Captions:

Image 1:
His Excellency Peter Zwart, New Zealand High Commissioner to Papua New Guinea, delivering his opening remarks at the BLP Advisory Panel Meeting.

Image 2:
Mr Peter Samuel, Acting Executive Director of the Centre for Excellence in Financial Inclusion (CEFI), delivering the closing remarks.

Image 3:
(From left to right) Ms. Bolalava Vaia, His Excellency Peter Zwart, New Zealand High Commissioner, and Mr Peter Samuel, Acting Executive Director of CEFI, cutting the cake to commemorate MSME Day.

Image 4:
Mr Peter Samuel (seated second from left), Acting Executive Director of CEFI, and His Excellency Peter Zwart (seated fourth from left), New Zealand High Commissioner to Papua New Guinea, pictured with key stakeholders, financial institutions, development partners, SME owners, and officers from BLP and CEFI during the meeting.

Image 5:
Mr Gabriel Iso, Lae-based BLP Business Services Manager, providing updates on ongoing regional outreach and capacity-building efforts.

Image 6:
Mr Gabriel Iso, Lae-based BLP Business Services Manager, presenting on regional outreach and capacity-building initiatives.

Image 7:
Mr Wong Khar Fye, General Manager for SME & Specialised Lending at Kina Bank, outlining Kina’s partnership with BLP.

Image 8:
Mr Wong Khar Fye, General Manager for SME & Specialised Lending at Kina Bank, highlighting the bank’s ongoing collaboration with BLP.

Image 9:
Mr Prabhash Ranjan from Women’s Micro Bank highlighting the bank’s commitment to women entrepreneurs, who comprise 80% of its 130,000-strong customer base.

Image 10:
Mr Prabhash Ranjan from Women’s Micro Bank discussing the bank’s focus on supporting women-led enterprises.

Image 11:
Mrs Kopi Like-Grammon, owner of KLG & Co. Business Consultants, sharing her journey as a Business Advisor since 2019.

Image 12:
Mr Richard Mark, founder of Abus Na Kumu, explaining how a BLP grant transformed his catering and food delivery business.

Image 13:
Mr Billy Gawi, a wood carver and designer, recounting how a K30,000 loan from Women’s Micro Bank—facilitated through BLP funding—helped sustain his small business.

Image 14:
Ms Benitta Napitalai, owner of Qweens Collection, sharing how BLP’s subsidy supported her bilum-making enterprise.

Image 15:
Mr Peter Samuel, Acting Executive Director of CEFI, meeting Mrs Lucy Wabi, Founder and Managing Director of Mama’s Hardware.

Image 16:
Attendees engaged during the BLP Advisory Panel Meeting.

Image 17:
Participants of the BLP Advisory Panel Meeting in discussion.

Image 18:
A cross-section of stakeholders attending the BLP Advisory Panel Meeting.

Image 19:
Key participants interacting during the BLP Advisory Panel Meeting.

Image 20:
Group discussion underway during the BLP Advisory Panel Meeting.

The Centre for Excellence in Financial Inclusion (CEFI) participated at the Women’s Economic Empowerment Expo held from 23 to 25 June in Lae, Morobe Province, demonstrating its continued commitment to empowering women through financial inclusion.

Invited as a silver-level sponsor, CEFI joined nearly 100 small and medium enterprises (SMEs) and several prominent partners including the Credit Guarantee Corporation (CGC), Small and Medium Enterprises Corporation (SMEC), Investment Promotion Authority (IPA), and Internal Revenue Commission (IRC), in supporting the Women SME Expo.

Organized by SMEC and Lae SME Incubator Hub managed by Tok Stret Consulting Limited, the expo aimed to promote economic opportunities for women in Morobe Province.

CEFI also took part in a panel discussion alongside other key stakeholders, contributing insights on financial inclusion, and business support programs to women-led businesses.

As part of its engagement, CEFI conducted informal stall-to-stall interviews with women entrepreneurs, many of whom operate in the informal economy and found out that women participants prioritized day-to-day business operations and income generation, many were unaware of available training programmes or did not perceive immediate benefits from them.

According to CEFI’s GESI Cordinator, Daisy Moses, who conducted the interviews, this insight pointed to a significant awareness gap and widespread misunderstanding and fear surrounding business compliance particularly in relation to registration with IPA and IRC were evident. Many women expressed concern that formalizing their businesses would result in tax obligations, deterring them from engaging with these systems.

The expo also highlighted the need for more targeted information sessions. However, CEFI has now renewed its focus on delivering more awareness initiatives to better inform women about business support programs, financial literacy, and the benefits of formalization and compliance.

CEFI’s participation in the Women’s Economic Empowerment Expo not only underlines its leadership in advancing financial inclusion for women but also opened up important conversations around bridging knowledge gaps, reducing fears around formalization (sme business), and expanding access to financial support services throughout Papua New Guinea.

Images:

The Centre for Excellence in Financial Inclusion (CEFI) hosted a heartfelt farewell lunch on Thursday, 29th May 2025,  for Mr. Busa Jeremiah Wenogo, Manager for Special Projects.

In his farewell speech Mr. Wenogo thanked his colleges for their support in performing  their duties and building strong working relationship him during his time with CEFI. He paid special tribute to two of his former colleagues, in former CEFI Executive Director Mr. Saliya Ranasingh and former CEFI Consultant Mr. Augustine Birie, who were instrumental in bringing him into CEFI, and acknowledged many others who supported his journey, including colleagues from the Market for Village Farmers project and financial inclusion pioneers.

Having worked in the financial inclusion space since 2013, Busa recounted his contributions to­ key initiatives such as the Informal Economic Policy, the Financial Inclusion Capability and Competency Study, and the drafting of Papua New Guinea’s first National Financial Inclusion Strategy. He reflected on international exposure visits, including one to Fiji with then Bank of PNG Governor Mr. Loi Bakani, which inspired the blueprint for microfinance expositions.

He described his time at CEFI as deeply meaningful, having been mentored by what he called two “giants”, Mr. Birie and Mr. Ranasinghe. He praised CEFI’s Acting Executive Director Mr. Peter Samuel for his administrative leadership and said his colleagues had become “brothers and sisters, not just co-workers.”

Looking ahead, he said his new job with another organization was not an end but “a continuation” of his journey with CEFI, and he hoped to foster future collaboration. “I am lost for words,” he said. “I pray that God will bless each and every one of you in your endeavors.”

In response, Mr. Samuel expressed his sincere appreciation for Mr. Wenogo’s dedication to CEFI and the country as a whole in the financial inclusion journey, impacting people’s lives, was immeasurable.

He highlighted Mr. Wenogo’s leadership in building structure within his unit, playing an important role in overseeing training of farmers in the MVF project as well as individuals and his personal growth, including attaining a Master’s degree.

Mr Samuel encouraged him to continue advocate for CEFI. He also praised Mr. Wenogo’s humility, faith, and integrity.

Ms. Winnie Kari, a casual staff member who served for four months was farewelled as well and in closing, Mr Samuel also thanked Ms. Winnie Kari for her positivity and fresh perspective, wishing both departing colleagues success and encouraging them to remain connected with the CEFI family.

Caption: Images showing CEFI’s Acting Executive Director Mr. Peter Samuel and staff farewelling Mr. Busa Jeremiah Wenogo as well as Ms. Winnie Kari.