The Young Minds Savings Campaign (YMSC), an initiative aimed at empowering school students with essential financial literacy skills on savings and budget, and opening bank accounts, is set to be rolled out in East New Britain Province from 25-27 August 2025.
The initiative is part of the Government’s National Financial Inclusion Strategy (NFIS) 2023–2027 and provincial engagement programmes, coordinated by the Centre for Excellence in Financial Inclusion (CEFI).
The campaign will be delivered in partnership with the East New Britain Provincial Government, with support from the Bank of Papua New Guinea and major financial sector stakeholders, including the Securities Commission of PNG, Treasury, and leading banks, superfunds, and insurance providers.
Participating institutions will 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 organzsations.
Acting Executive Director of CEFI Peter Samuel said that school children are the leaders and entrepreneurs of the future.
Mr Samuel stated that by encouraging a culture of saving at an early age, students would be equipped with the tools to take control of their financial future.
Over the three-day campaign, the YMSC will reach six schools within and outside Kokopo town, including:
- Kokopo Primary School
- Kokopo Secondary School
- St Martin Primary School
- Malaguna Technical School
- Keravat Primary School
- Keravat National High School
Financial institutions would also set up booths to showcase a variety of savings products specifically tailored for young people.
The initiative directly contributes to the NFIS target of opening two million new bank accounts nationwide.
The campaign has already proven effective in two provinces last year. More than 300 bank accounts were successfully opened for school students in Milne Bay and in West New Britain.