Des Yaninen

Supported by the US government, this initiative aims to empower young leaders like Yaninen to make a significant impact upon their return to their respective countries.

Yaninen's firm, Pacifund, has been instrumental in launching nearly 100 SME businesses in 2023 alone, collectively generating K1 million per month in revenue and creating hundreds of new jobs.

Pacifund's efforts underline the potential for private initiatives to drive economic growth in PNG.

When presenting at the National ICT Summit, he spoke about what MSME was about and what it does to help engage entrepreneurs in upskilling businesses, while being contributing factors to the ever-growing economy.

Mr Yaninen said the mission of the MSME is to advocate for the voice of the small business sectors, helping to establish entrepreneurs and small businesses, grow and prosper and finally helping to connect members to new markets and provide access to markets.

Restrictions necessary for the safety of all citizens but nonetheless affecting major businesses down to informal sector stalls and the livelihoods of many.

The majority of Papua New Guineans are resilient by nature and part of the middle bracket, Micro-Small-Medium Enterprises or MSME’s but tough times are affecting everyone.   

The two-month State of Emergency (SoE) extension has pushed many issues to the forefront.  

One of them is outdated penalties for breach of laws meant to protect consumers.

Public reaction to the government’s declaration of a State of Emergency was twofold from the economic standpoint, panic buying and mild chaos across the nation but also an upsurge in the costs of goods and services.