The National Information and Communications Technology Authority (NICTA) and the Centre for Excellence in Financial Inclusion Inc. (CEFI) have entered into a two-year Memorandum of Agreement (MoA) to establish a dedicated FinTech Incubation Centre at the Papua New Guinea University of Technology (Unitech) Taraka Campus in Morobe Province.
The initiative aims to support the development of home-grown digital financial solutions by providing infrastructure, mentorship and technical support to fintech entrepreneurs and start-ups across the country.
Under the agreement, NICTA’s Universal Access and Service (UAS) Scheme will provide funding of up to K374,000 through the UAS Trust Fund. The funding will support the procurement of fixed broadband connectivity and modern ICT equipment to create a state-of-the-art fintech incubation facility at the university.
Once operational, the centre will serve as a nurturing hub for Papua New Guinean fintech innovators, offering access to high-speed internet, a fully equipped resource centre, business development support and financial expertise delivered by CEFI. The facility is expected to play a critical role in accelerating innovation in digital payments, mobile banking, financial literacy tools and inclusive financial services tailored to the local context.
The centre will place particular emphasis on empowering women and youth, recognising their growing role in the digital economy and the need to expand participation in technology-driven financial services.
NICTA Acting Chief Executive Officer Polume Lume, speaking at the MoA signing, highlighted the importance of collaboration in advancing the Government’s digital and economic development agenda.
“This collaboration exemplifies strong partnerships: NICTA, as a government authority, teams up with CEFI—a key player in financial inclusion—to deliver expertise and resources, while leveraging Unitech’s academic environment for talent development,” Lume said.
“We extend this to the private sector by creating a hub where start-ups can access tools, investors and markets, fostering public-private synergies that ensure long-term sustainability beyond the two-year term. Targeting local communities, the centre prioritises PNG-specific solutions, offers controlled public access, and builds capacity in Morobe Province, ensuring benefits reach grassroots levels and contribute to inclusive growth,” he added.
The initiative aligns with key Government policy priorities, including improving access to broadband connectivity, promoting digital innovation and supporting economic growth through technology and entrepreneurship. It also complements national efforts to strengthen financial inclusion by expanding access to affordable, secure and digital financial services, particularly for underserved and rural communities.
CEFI said the partnership reflects a shared commitment to building a robust fintech ecosystem that supports innovation while addressing real-world financial challenges faced by Papua New Guineans.
The FinTech Incubation Centre is expected to position Morobe Province as an emerging hub for digital innovation, while strengthening linkages between academia, government and the private sector to support sustainable development in Papua New Guinea.
