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Port Moresby
March 7, 2021

Financial Literacy Needed

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On it’s third day, it is evident that the financial literacy classes provided at the Bank of Papua New Guinea’s Financial Inclusion Expo in Kokopo this week, are an asset to the locals.

Turnouts for the classes have been much more than anticipated, and profoundly appreciated by the local community.


With the purpose of reducing the 85% of the unbanked population to a much lower level, the financial inclusion expo has been a godsend for the people of Kokopo.


The workshops, carried out during the festival, are being conducted by the major Commercial Banks, Microbanks, Savings and Loans societies and finance companies, training the Kokopo locals on how to save for the future, and about the benefits of saving.


In a society where family obligations and wantok system is of utmost importance, it is not the norm to save for the future.


However, the attendees, the majority of whom were women, took home some valuable life lessons regarding financial knowledge, and were grateful for the availability of the workshops.


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