Approved for Release- CEFI
THE Young Minds Savings Campaign (YMSC) in Kimbe, West New Britain
province, ended on a high note with over 236 kids savings account opened.
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.
“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,” Mr.
Ranasinghe told head teachers of participating schools and branch managers
of the participating financial institutions during a closing dinner.
He also thanked the Securities Commission of PNG (SCPNG) for their
sponsorship support towards the campaign.
Mr Tandawai representing 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 Mr Moses
Zazon expressed their support towards the campaign. Besides MiBank, BSP
and Womens Microbank (WMB), Nasfund and TISA were also in attendance.
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, Mr. Leo Mapmani thanked
CEFI and BPNG for the initiative and support to run the YMSC in Kimbe.
Mr Mapmani assured CEFI of the WNBPG support towards the
implementation of the CEFI-WNB MoU and to continue the good progress
made so far.
Mr. Mapmani 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, mobilized 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,” Mr. Mapmani said.
CEFI Special Projects Manager and YMSC Team Leader Mr. Busa Jeremiah
Wenogo thanked Mr 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 appreciate of the YMSC
and happy to have the financial institutions come to their schools and open
banks accounts.
“The Young Minds Savings Campaign is a really effective programme that
was implemented by CEFI. It has been able to encourage young students to
open up savings accounts,” said eighteen year old grade 12 student David
Uluk of Kimbe International School.
“It’s a good initiative taken (by CEFI and BPNG) because it helps young minds
to see the importance of savings,” said sixteen year old grade 11 female
student Lorraine Mertie Gorie of Kimbe International.
“The campaign is important and must be taken seriously as it helps students
to know how to use and manage money wisely,” said fourteen year old grade
8 student Meltufie Osand of Harrison SDA Primary School.
“The campaign helps students to know more about savings and managing
their money,” said fifteen year old grade 8 female student Jelica Jimmy of
Harrison SDA Primary School.
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.
“The campaign is important due to the demand which at the moment in
terms of savings especially with the limited education on finances,” said Karl
Hesse Deputy Headmaster Mr. Ezekiel Henry.
“I believe the impact that (this campaign) will have on the students is that
they will learn to save money and also look forward to their future with
confidence knowing their savings is available when needed” he added.
Ruango Primary School Head Teacher Mr. Nalot thanked CEFI and BPNG for
initiating the campaign adding educating savings to the students at a very
young age is important.
“I fully support this campaign because its targeting school children to teach
them about savings which I believe it’s an important part of their learning
development.”
“Definitely the campaign will have a big impact on the students because they
never had banks accounts, but through the campaign many school children
now will be able to have bank accounts, and know how to save with the help
of their parents also,” Mr. Nalot concluded.
