2024 YOUNG MIND SAVINGS CAMPAIGN CONCLUDES SUCCESSFULLY

The Young Minds Savings Campaign (YMSC) in Kimbe, West New Britain province, ended on a high note with over 236 kids savings accounts opened.

The Center for Excellence in Financial Inclusion (CEFI) Executive Director, Mr. Saliya Ranasinghe thanked the WNB Provincial Government (WNBPG), participating schools and financial institutions for making the second YMSC a success following the first YMSC held in Milne Bay province in August this year.

Ranasinghe encouraged head teachers of participating schools and branch managers of the participating financial institutions to teach the basics of finance.

“Convey the message of savings to your children and educate them on its importance so they will have a better future and standard of living,”

He also thanked the Securities Commission of PNG (SCPNG) for their sponsorship support towards the campaign.

Mr. Tandawai who represented SCPNG said that the Commission was happy and excited to support CEFI and BPNG in investing in the future of PNG through the YMSC.

In attendance also was the Department of Treasury who through Moses Zazon expressed their support towards the campaign.

Besides MiBank, BSP and Womens Microbank (WMB), Nasfund and TISA also attended.

Both institutions used the campaign to make awareness of their products targeted at school kids.

Schools visited included, Kimbe Primary, Ruango Primary, Karl Hesse Primary, Kimbe Secondary, Kimbe International and Harrison Primary.

CEFI, the Bank of Papua New Guinea (BPNG), SCPNG, WNB Provincial Government, MiBank, WMB, BSP, Nasfund and TISA visited the respective schools from September 04 to September 06.

On Wednesday September 04, MiBank visited Kimbe and Ruango Primary schools, Thursday September 05, WMB, MiBank and Nasfund visited Karl Hesse Primary and Kimbe Secondary and BSP and TISA visited Kimbe International and Harrison Primary schools respectively on Friday September 07.

The activities included awareness on savings, question and answer sessions followed by opening of bank accounts.

More than 200 savings accounts for students were opened by Mibank and BSP with follow up visits by the respective banks to continue for the respective schools.

The YMSC is one of the key ticket items implemented under a MoU signed between CEFI and WNB Provincial Government which is expected to end on 27th July 2026.

The Provincial Administrator (PA) – WNBPG, Leo Mapmani thanked CEFI and BPNG for the initiative and support to run the YMSC in Kimbe.

Mapmani assured CEFI of the WNBPG support towards the implementation of the CEFI-WNB MoU and to continue the good progress made so far.

He also stated his administration’s support of the YMSC in Kimbe, adding it was now a challenge for the WNBPG to continue the campaign and reach more schools in the province.

“This is the first of its kind in Kimbe to witness BSP, MiBank, TISA, Nasfund and the Mama Bank mobilize and jointly visit selected schools within the urban settings to promote their products specifically focusing on promoting the savings culture to the children and young people.”

“The Steering Committee will continue to highlight this activity in its annual work plan to build the young minds and empower them to continue to save money for their future needs.”

CEFI Special Projects Manager and YMSC Team Leader, Busa Jeremiah Wenogo thanked Mapmani for his support towards the YMSC and encouraged WNBPG to take ownership of the campaign and roll it out annually to all the schools in the province.

Students interviewed at respective schools were all appreciative of the YMSC and happy to have the financial institutions come to their schools and open bank accounts.

Head teachers from the six schools express their gratitude to CEFI, BPNG, SCPNG and the WNBPG for the campaign which they said was important to the students for their personal and educational development.