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February 28, 2021
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Business PNG – Episode 25, 2014

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This week’s episode of Business PNG features the Financial Inclusion Expo held in Kokopo.

Recent statistics estimated 85 percent of Papua New Guineans are excluded from the financial sector and live a subsistence life well below the global poverty line. While improving access to financial services remains a major development challenge in the country.

We also discover contribution of Mobile banking as a tool for financial inclusion, which is also vital to enable to the unbanked population to contribute to the nation’s economy; the mobile banking is also playing a critical role in financial inclusion by providing banking services to the unbanked population of the country.

 

As the increase in mobile phones network in all urban and rural areas more people choose mobile banking due to its convenience and availability. Several other major commercial banks have already established mobile banking tools for the public services.

https://youtube.com/watch?v=ESZX75BHH0E%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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