THE Centre for Excellence in Financial Inclusion (CEFI) and the Bank of Papua New Guinea (BPNG) with support from the Security Commission of Papua New Guinea and various Financial Institutions, have successfully concluded the Young Minds Savings Campaign (YMSC) in Western Highlands Province (WHP), delivering financial education and awareness to more than 8,000 students across six schools and fostering a culture of responsible saving among Papua New Guinea’s youth.
Held from 18–20 March, the campaign targeted students from Togoba SDA Primary School, Togoba Secondary School, Paglum SDA Primary School, Paglum SDA Secondary School, Ogelbeng Primary School, and Ogelbeng Lutheran Secondary School. The initiative achieved strong engagement, with students showing overwhelming interest and off course embracing opportunities to learn more about savings, investments, open bank accounts and develop foundational financial skills.
The Western Highlands rollout marks the province’s emergence as a leader in youth financial education, with strong participation from schools, government agencies, and the various players in the financial sector. School principals commended the Provincial Government’s and CEFI’s proactive role in championing financial literacy, highlighting the program’s potential to positively shape students’ economic futures.
“The enthusiastic response from our young people demonstrates a genuine appetite for financial knowledge,” said Mr George Awap, Assistant Governor for Financial System Development and Innovation Group at BPNG, during the official opening ceremony at Togoba Secondary School on 18 March. “It is our responsibility to ensure that those who are left out are brought into the formal financial system.”
Mr Awap emphasized the central bank’s mandate to regulate financial institutions, issue currency, and maintain monetary stability, while underscoring the campaign’s mission to equip young people with practical money management skills. Using a relatable analogy, he noted: “Money is like water on the palm of your hand it can easily disappear if not managed wisely.”
Mr Peter Samuel, Acting Executive Director of CEFI, encouraged students to develop disciplined financial habits guided by clear goals. “You must develop the ability to stand firm whenever money is in your pocket,” he said. “Saving must be purposeful always linked to a financial goal.”
Mr Samuel also highlighted CEFI’s ongoing collaboration with the Department of Education to integrate financial literacy into the national curriculum by 2027 or 2028, reflecting a long-term commitment to strengthening financial capability across the country.
Mr Richard Lazarus, Executive Manager for Commerce, Culture and Tourism, reaffirmed the Provincial Government’s commitment to nurturing young entrepreneurs, encouraging students to consider business as a pathway to economic independence.
The campaign delivered tangible outcomes, with hundreds of students opening accounts through participating financial institutions, including Bank South Pacific, MiBank, TISA Bank, NCSL, and the National Banking Corporation. This practical approach helped bridge the gap between financial knowledge and real-world application.
In addition to student engagement, the campaign included professional development sessions for educators. The Securities Commission of Papua New Guinea, BPNG, and leading superannuation funds conducted sessions on investment, retirement savings, and financial planning, equipping teachers with knowledge to reinforce financial literacy both in classrooms and in their personal lives.
The initiative also extended to the public sector, with a dedicated financial awareness session for Western Highlands Provincial Government employees, strengthening institutional capacity for informed financial decision-making.
Western Highlands is the fourth partner to host the Young Minds Savings Campaign, following successful rollouts in Milne Bay and West New Britain in 2024, and East New Britain Province in 2025. The program was also delivered at the district level in Kerema last year.
From past campaigns, the campaign has reached more than 6,000 students nationwide and facilitated the opening of over 800 youth bank accounts.
Meanwhile, Mr Esley Tikil, Deputy Administrator for Western Highlands Province acknowledged CEFI and the WHP Commerce Division for coordinating the YMSC and welcomed representatives from BPNG, the Securities Commission of Papua New Guinea, the Treasury Department, commercial banks (BSP, TISA, National Banking Corporation, National Development Bank), Micro-Banks (MiBank) Superannuation Funds (Nasfund and Nambawan Super)), Savings and Loan Societies (Nasfund Contributors Savings and Loan Society and Nambawan Savings and Loan Society) and Life Insurance (BSP Life) to an awareness session held at Mara Haus in Mt Hagen on Tuesday 17 March.
The session addressed ongoing knowledge gaps among public servants and rural communities regarding access to financial services.
“Many public servants and citizens, particularly in rural areas, have limited understanding of financial services and the benefits available,” Mr Tikil said. “We are privileged to have these organizations here to share this important information.”
He emphasized that improving financial literacy among public servants, teachers, and communities is essential to securing individual financial futures and supporting broader national economic development.