UNCDF, the UN’s capital investment agency is actively promoting digital financial inclusion among women micro-entrepreneurs across Papua New Guinea (PNG), through the Rapid Finance Facility (RFF) Project. This project is providing the best opportunity for women in business to effectively participate in the emerging digital economy.

Working in partnership with PNGX Markets (PNG’s National Stock Exchange) and their DEFINE Initiative digital, financial and business skills capacity building, over fifty women entrepreneurs graduated in the second round of the 3 day Foundation training workshop held at the Country Women’s Hall in Port Moresby on Thursday, 08^th September 2022.

The DEFINE Skills 2022 program was launched on the 30^th August 2022 to boost opportunities for a targeted 700 women entrepreneurs to develop their businesses, graduate to the formal sector and transition into the emerging digital economy, adopting improved business practices through enhanced digital and financial literacy skills. Among the diverse mix of women-led business participants were women market traders, business owners in the fisheries sector, computer science graduates, a lawyer and parliamentarian. The training is inclusive of women in business at an advanced stage of growth and those at concept evaluation.

PNGX Markets Limited General Manager, Ms. Elizabeth Wamsa said their presence showed their commitments to learn and be part of the change they want to see in their business and instill innovation for an inclusive digital economy and digital interaction.

“We’ve identified that women and people living with disabilities are most vulnerable when doing business in the country. And so, our aim is to support women taking into account the sustainable development goals and empower them with the skills and the tools to support the businesses that they venture into,” Ms. Wamsa said.

Ms. Wamsa added that the workshop was the first of its kind in the country and would run for some time as it was built on the PNG ICT Cluster program, a not-for-profit, membership-driven association – a unique platform for innovation among businesses.

UNCDF Rapid Finance Facility Project Lead, Miss Orla Ryan said the Rapid Finance Facility was dedicated to supporting women entrepreneurs in PNG with digital and financial products and services.

“It is only possible to continue to deliver success through partnership with organizations, like the team at PNGX Markets, who are committed to the success of the Papua New Guinea woman entrepreneur,” said Miss Ryan.

The Define Initiative is a collaboration of three core proponents – PNGX Markets, PNG Digital ICT Cluster; and Unkapt and is supported of the SME Corporation, Vodafone PNG and Telikom PNG. It is funded by the United Nations Capital Development Fund (UNCDF) and the United Nations Development Program (UNDP) under their Rapid Finance Facility (RFF) project.