Centre for Excellence in Financial Inclusion (CEFI)

The revised MoU was signed between CEFI’s Deputy Executive Director Peter Samuel and West New Britain Provincial Administrator Leo Mapmani.

The MOU was signed to continue on the partnership between CEFI and the provincial government in promoting financial inclusion in the province.

The objectives of the revised MoU include;

The new CEFI website can be found at https://www.thecefi.org/

After launching the new CEFI website, CEFI Executive Director, Garima Tongia, emphasized the importance of a website saying it is the main tool of communication, marketing and awareness in organizations.

“A revamped, revitalized and brand website is very important for CEFI because it will educate people who want to know more about CEFI and also do business with us,” Tongia said.

Implementing the strategy is the Centre for Excellence in Financial Inclusion (CEFI) in collaboration with the Central Bank (BPNG) and the Department of Treasury.

CEFI is the mandated organization implementing the National Financial Inclusion Policy 2019 since the first NFIS 2013-2015. Thereafter, its success followed with the second NFIS 2016- 2020.

CEFI’s humble beginning was the outcome of the Microfinance Expansion Project in 2013, under the direction of the Bank of Papua New Guinea, Department of National Planning and Department of Treasury.

Since established 10 years ago, CEFI has grown from strength to strength in becoming the leading industry apex organization in coordinating, advocating and monitoring financial inclusion activities in Papua New Guinea.

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 training was delivered to 20 participants from various women’s groups, conservation groups and staff of Jiwaka provincial administration.

The training was conducted under the USAID LGP ‘Women’s Empowerment Program’ and aims to produce a pool of financial literacy trainers to specifically to support rural and remote communities in six provinces in Papua New Guinea.

This 12-month partnership between Nasfund and CEFI enables both organizations to work together in providing financial literacy training to more than 623,000 Nasfund members.

The Fund’s collaboration with CEFI is important as it empowers Nasfund employees to be champion advocates of the savings culture through financial literacy.

Nasfund Chief Executive Officer, Ian Tarutia was pleased with the partnership, which would benefit the Fund’s membership and the communities in which it operates.

They also presented CEFI with ‘Accreditation of Courses’ certificate to help conduct the courses at an official presentation on March 7.

BPNG’s Acting Assistant Governor for Financial System Stability Group (FSSG), George Awap, when accepting the certificates on behalf of Acting Governor Bank of PNG Guinea and Chairman of CEFI Board, Benny Popoitai, thanked NTC for being a standard setting institution.

Last week the Inclusive Green Finance Policy (IGFP) Project Technical Working Group (TWG) held its first meeting in Port Moresby to discuss project methodologies, risks, partnership opportunities and offer advice that would facilitate overall delivery of the project.

The objective of the meeting is for its members to understand the context, goals and work plan of the IGFP project, review the draft green taxonomy and review the proposed activities for 2022-2024.

The Memorandum of Cooperation (MoC) that was signed today, will see the roll out joint financial inclusion trainings for government and community members in six provinces that the LPG operates in. The provinces are Eastern Highlands, Jiwaka, Madang, Milne Bay, Morobe and Chimbu.

The MoC will particularly emphasize women’s economic empowerment and will see LGP and CEFI partner to provide direct training to locals that result in financial literacy certificates and training of trainer programs.