Women face challenges in digital technology

Women in PNG often face additional barriers and less access to mobile phone, lower literacy levels, less confidence in using technology and restrictions on travel or social interaction.

Central Bank Governor Loi Bakani told participants at the Improving Digital Financial Literacy Workshop recently in Port Moresby, an APEC capacity-building initiative for Papua New Guinea.

When giving an overview of challenges faced in PNG with the digital financial literacy, Central Bank Governor Loi Bakani said although digital technology is opening new vistas, challenges persist.

He said sparse populations, inconsistent network coverage, insufficient capital for building new business models, lack of trust and low technical literacy of consumers can stand in the way of success, particularly in connecting remote or underserved communities.

“For us here in PNG, an early and quick transition may not seem plausible because of the magnitude of the geographical and cultural divide.

“People’s aversion to digital finance has more to do with their aversion to everything that has to do with technology. And this stems from their lack of trust in it.

“It is also partly on account of lack of comfort with technology and literacy needed to fully use these services.”

Bakani added that to use financial services to its full potential, appropriate training and education awareness is needed.

Mr Bakani further clarified that it has been found that financial education programmes that focus only on imparting knowledge rarely deliver impact unless they are backed by a suitable product and its usage support.

Author: 
Freddy Mou