The Centre for Excellence in Financial Inclusion (CEFI) and the PNG Institute of Banking and Business Management (IBBM) had an open day, on Monday February 20, 2023 in Port Moresby.
On the day, applications for the second batch of the Online Certified Microfinance Course officially commenced.
The Online Certified Microfinance Professional Course was first launched in 2021 with the first batch of 23 participants successfully on boarded and which will be graduating in April 2023.
CEFI in partnership with IBBM created the Microfinance Professionals Course in Papua New Guinea to fulfil the need of the industry and to create a pool of professionals for the expanding industry.
The course will help banking staff and banking and finance students to obtain professional qualification to be successful in a dynamic environment, acquire new skills in microfinance and build competence in areas to meet the diverse needs of different market segments.
IBBM Lecturer, Ignatius Timothy presented the course and indicated that the materials cover aspects of important microfinance subjects under three levels.
These skills will enable an individual’s ability to apply new skills and judgement in a more complex business operations at a higher management level.
IBBM CEO Susil Kongoi acknowledged the ongoing support from CEFI, Financial Institutions and stakeholders for the partnership with IBBM in continuing the online microfinance courses.
CEFI Executive Director Garima Tonga encouraged financial institutions to work in partnership with CEFI to boost microfinance in the country, through creating an enabling platform for their staff to learn and grow in the industry.
He further welcomed them to start nominating their staff to attend the course, as batch number 2 nominees.
“It is an exciting program (Online Certified Microfinance Professional Course), and CEFI has developed this new eLearning Platform and will continue to look forward to maintain it with the software developer and IBBM and try to bring the best out of this program to the partner financial institutions.”
“CEFI is looking forward to working with IBBM and Bank of PNG as we take this platform to the next level,” Tongia said.
Bank of Papua New Guinea Acting Assistant Governor George Awap in his keynote address reemphasized the important objective of the course, which is to build a pipeline of professionals for the growing microfinance industry.
Awap stated that the microfinance is a growing industry and acknowledged microfinance banks for using technology to reach rural Papua New Guinea.
“(This course) provides greater opportunity to financial institutions to train as many people as they can because if they understand the principles and concepts of microfinance in both the supply side and the demand side, to improve customer satisfaction.”
“It is also encouraging to note that 17 people have completed the Batch One Course successfully and will be graduating in April this year,” Awap said.
The Certified Online Microfinance Professional Course was introduced in 2021 to provide an opportunity to obtain theoretical knowledge on the concept of microfinance. Learnings from the Microfinance Expansion Project, microfinance training is incorporated into this course as the sustainable arm of the concept.
Important aspect of online training is that participants can study during their free time without out disrupting other work.