Wednesday 14 January, 2026
The National ICT Authority (NICTA) and the Centre for Excellence in Financial Inclusion (CEFI) entered into a two-year Memorandum of Agreement for the establishment of a dedicated Fintech Incubation Centre at the University of Technology (Unitech) Taraka Campus, Lae, Morobe Province.
NICTA Acting Chief Executive Officer, Mr Polume Lume in his address before the signing spoke on the importance of this partnership and collaboration, stressing that it aligns with key Government policy agenda around the area of Improving accesses to broadband connectivity & promoting economic growth.
He highlighted that funding for this initiative will be provided under NICTA’s Universal Access and Service (UAS) Scheme’s Trust Fund with a commitment of up to K374 000. The funding will support the procurement of fixed broadband connectivity and modern ICT equipment to create a state-of-the-art fintech incubation facility.
Mr Lume explained that the Centre when ready will serve as a nurturing hub for Papua New Guinean fintech entrepreneurs and start-ups, supporting innovation, mentorship, funding access, and the development of digital financial solutions.
A dedicated fintech incubation Centre will accelerate the growth of home grown digital financial solutions tailored to Papua New Guinean context. With high-speed internet, fully equipped resource centre and financial expertise provided by CEFI, this center will empower entrepreneurs, especially women and youth to be innovative.
“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,” Acting CEO Lume said.
NICTA extended this to the private sector by creating a hub where startups 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 prioritizes PNG-specific solutions, offers controlled public access, and builds capacity in Morobe Province, ensuring benefits reach grassroots levels and contribute to inclusive growth.”