Human Centered Design (HCD) is providing South Pacific financial service providers with new motivation and tools to tackle the problems that have frustrated their initial attempts at mass market finance.
That’s the theme of the four-year National Financial Inclusion Strategy (N.F.I.S.) launched at the Taumeasina Island Resort yesterday.
The launch was attended by the Minister of Finance, Sili Epa Tuioti and Lizbeth Cullity, U.N.D.P. Resident Representative.
In his keynote address, Minister Sili addressed the importance of financial inclusion for the development of Samoa.
He said the plan targets low-income household, women and unemployed youth.
Studies are underway by Capital Insurance to research unserved markets in Papua New Guinea (PNG), to explore the possibility of providing low-cost insurance specially-designed for currently uninsured properties in informal settlements and villages.
An exciting project to connect mobile banking to the coconut industry was launched today by the Australian Government, Pacific Financial Inclusion Program (PFIP) and ANZ Bank.
The SBD 5 million dollar program (US$650,000) will connect rural coconut oil producers, laborers, buyers and transport operators with digital finance as the coconut industry in Solomon Islands expands.
Insurers in the Pacific are focusing on increasing penetration of insurance coverage for small and medium enterprises (SMEs), research conducted by the Pacific Financial Inclusion Programme (PFIP) last month has revealed.
A simple text message is all it takes for a Papua New Guinea (PNG) citizen to sign up to affordable, new microinsurance products providing a crucial safety net for families.
These new microinsurance products have managed to do away with the usual lengthy paperwork processes, preliminary health checks and identification associated with some traditional insurance products. Subscription via text message leads to enrollment and periodic insurance premiums are set up for automatic, deductions.
Single mother and sole bread winner Mary Pako received solar lighting in her home for the first time last year.
The 45-year-old, who lives in a remote village of Tenarau in the Guadalcanal province of the Solomon Islands, is a client of the South Pacific Business Development (SPBD) Solar Lighting Loan.
Prior to accessing the loan, Mary’s family of five was used to living in darkness and their eyes were accustomed to the smoke and dim lighting that their kerosene lamps would provide.
The Pacific Financial Inclusion Programme (PFIP) has today awarded three inaugural Reuben James Summerlin Scholarships.
The scholarship was established in honour of PFIP’s former Programme Manager, Reuben Summerlin, in keeping with his passion for capacity building and education.
The Pacific Financial Inclusion Programme (PFIP) released a comparative report on the Financial Services Demand Side Surveys (DSS) of Fiji, Solomon Islands and Samoa this week.
The report titled Benchmarking financial inclusion in Fiji, Samoa, and Solomon Islands: Findings from the first national demand side surveys, presents a synthesis and comparison across the three surveys.