Cefi, ENB sign deal for financial scheme

The Centre for Excellence and Financial Inclusion (Cefi) has signed a memorandum of understanding with the East New Britain administration to enable the effective rollout of financial inclusion programmes in the province.
Cefi and the Bank of PNG recently conducted a two-day workshop on financial inclusion programmes in Kokopo.
The MoU will enable the ENB to rollout the financial inclusion programmes in the province and strengthen its partnerships with financial institutions to further expand existing programmes.
ENB deputy administrator in charge of socio-economic services, Levi Mano, said Cefi and Central Bank continued to support ENB through its good networking.
Mano said the problem was not that people did not have money, but that they lacked the discipline on how to use the money they earn.
“We live in a globalised business environment while the government is coming in to assist, but people need to discipline themselves financially, or continue to remain poor,” he said.
Mano said for example, families should come up with a system in which they could know how much wealth they had and use this to access financial support from the financial institutions to help grow their business activities and their family wealth.