The Young Minds Savings Campaign (YMSC) is currently being rolled out across six schools in the East New Britain (ENB) province, aimed at financially empower students through financial literacy.
Running from August 25th to August 27th, the campaign aims to empower school students
with essential financial literacy skills on savings and budget and opening bank accounts.
The initiative is part of the National Government’s National Financial Inclusion Strategy (NFIS) 2023–2027 and provincial engagement programmes, coordinated by the Centre for Excellence in Financial Inclusion (CEFI).
It’s being delivered in partnership with the East New Britain Provincial Government, with support from the Bank of Papua New Guinea (BPNG) and major financial sector stakeholders, including the Securities Commission of PNG, Treasury, and leading banks, superfunds, and insurance providers.
Over the three-day campaign, the YMSC reached six schools within and outside Kokopo town,
including:
• Kokopo Primary School
• Kokopo Secondary School
• St Martin Primary School
• Malaguna Technical School
• Kerevat Primary School
• Kerevat National High School
Students took part in interactive awareness sessions, discussions with financial experts, and
opportunities to open savings accounts on site.
Speaking ahead of the campaign, Mr. Peter Samuel, Acting Executive Director of CEFI, said that
school children are the leaders and entrepreneurs of the future.
“By encouraging a culture of saving at an early age, students would be equipped with the tools to take control of their financial future.”
The initiative directly contributes to the NFIS target of opening two million new bank accounts
nationwide.
Participating institutions in this campaign include Credit Guarantee Corporation (CGC), MiBank, Women’s Micro Bank, BSP Financial Group Limited, Kina Bank, Teachers Savings and Loan Society (TISA), Kada Poroman, Nasfund, Nambawan Super, Credit Bank, East New Britain Savings & Loans, BSP Life, among other licensed financial organizations.
Meanwhile, the campaign has already proven effective in two provinces last year, that is Milne Bay and West New Britain.