Students from across four (4) primary schools in the Madang province are now in a better position to know what to do when it comes to properly manage the spending of their lunch money, thanks to a recently run financial literacy program.

More than 1,000 students in the province have gained this valuable financial literacy knowledge through the successful completion of the Young Mind Savings Campaign (YMSC), a three-day awareness programme aimed at promoting savings habits and responsible money management among school-aged children.

The programme was conducted at Sagalau Demonstration Primary School, Holy Spirit Primary School, and Kusbau Primary School. Students from Good Shepherd Secondary School also attended the afternoon session at Sagalau Primary School. Granget Primary School and Tusbab Secondary School were unable to participate due to ongoing school assessments.

The Young Mind Savings Campaign, launched in 2024, began with successful pilot programmes in Milne Bay and West New Britain provinces, resulting in more than 300 student bank accounts being opened. In August 2025, CEFI partnered with the East New Britain Provincial Government to reach 3,000 students across six schools, resulting in 500 new accounts being opened with support from financial institutions and government agencies.

The campaign continued to expand in October 2025 to Kerema District, where 3,800 students across six schools participated and 430 accounts were opened. In March 2026, a total of 2,073 bank accounts were opened during the campaign in Western Highlands Province.

The Madang programme was delivered through a partnership between the Centre for Excellence in Financial Inclusion (CEFI) and the Madang Provincial Government, with support from the Bank of Papua New Guinea, the Securities Commission of Papua New Guinea and participating financial institutions including Bank South Pacific, TISA Bank, Kina Bank, Women’s Micro Bank, MiBank, NASFUND, NCSL, Nambawan Super, Nambawan Savings and Loan Society, and National Development Bank.

CEFI Executive Director Mr. Peter Samuel thanked stakeholders and participating institutions for their continued support in educating school-aged children about savings and financial responsibility.

“The purpose of the Young Mind Savings Campaign is to raise awareness and educate school students about the importance of opening and owning a bank account, as well as building a culture of saving for their future,” Mr. Samuel said.

Madang Provincial Education Director Mr. Alphonse Igag described financial literacy as an essential life skill that had been missing from the education system for many years. He said the campaign would help students develop responsible money management habits from an early age while also benefiting teachers and parents.

“We are working towards establishing financial literacy, which has been missing for the last fifty years. No wonder very few people are able to manage money properly,” Mr. Igag said.

The Young Mind Savings Campaign continues to strengthen financial education efforts across Papua New Guinea by encouraging children and young people to develop positive saving habits and financial responsibility for the future.