Credit Guarantee Corporation PNG

19/11/2025

Port Moresby, APEC Haus — Credit Guarantee Corporation (CGC) has recognized MiBank PNG for its outstanding performance in facilitating the highest number and total value of CGC guaranteed loans.

The recognition was announced during the SME Awards Night on November 13th, 2025, under a new award category, the SME Access to Finance Enablement Award—sponsored by CGC to recognize its Partnering Financial Institutions (PFIs) that facilitated the highest number and value of Micro, Small, and Medium Enterprise (MSME) loans backed by CGC’s guarantee.

MiBank’s achievement places it in a leading position among CGC’s thirteen PFIs, demonstrating its strong commitment to supporting MSMEs throughout Papua New Guinea.

CGC Chief Executive Officer, Mr. Dominic Sikakau, said the award marks a milestone in strengthening MSME empowerment through access to finance.

“This award is a pioneering achievement that demonstrates MiBank’s commitment to empowering micro, small, and medium enterprises (MSMEs) by collaborating closely with CGC to eliminate financial barriers. Their commitment is driving real impact for local businesses,” Mr. Sikakau said.

The partnership between CGC and participation financial institution (PFI) dates to 19 January 2024, when parties inked an agreement allowing CGC to act as the guarantor for eligible local MSMEs that may lack sufficient collateral to access credit. Since then, MiBank has emerged as a strong partner, helping more MSMEs secure loans backed by guarantee from CGC.

CGC continues to work with all of its PFI’s to strengthen access to finance and support MSME growth, aligned with the n Medium-Term Development Plan (MTDP IV).

07/10/2025

29/09/2025

CGC and UNCDF Launch AI-Powered Tool to Boost MSME Credit Decisions

Lamana Hotel, Port Moresby: Credit Guarantee Corporation (CGC) and the United Nations Capital Development Fund (UNCDF) unveiled the General Financial Insight (GFI) Psychometric Credit Decisioning System to help Financial Institutions (FI’s) improve loan decisions for Micro, Small and Medium Enterprises (MSME), on September 24, 2025.

The GFI Psychometric Credit Decisioning System is an AI powered tool that helps FI's assess loan applications. The system also measures traits that predict business success such as enterprising, knowledge integration, leadership, commitment, decision-making and resiliency which is useful for SME training organizations.

Assistant Governor of the Financial Systems Regulation & Supervision Group at the Bank of Papua New Guinea (BPNG), Mrs. Sabina Deklin, officiated at the launch on behalf of the Governor of BPNG.

Assistant Governor Deklin commended CGC, UNCDF, and Global Psytech and said “you are not only helping to transform how loans are approved, but how dreams are realised”. She further stressed that “this is more than technology. It is about reimagining how we see our entrepreneurs—not as ‘high risk’ or ‘unbankable,’ but as the foundation of a diversified and resilient economy"

UNCDF Country Lead, Mr. Wyclliffe Ngwabe elaborated that “for too long, many smallholder farmers, women-owned enterprises, micro and small businesses have been locked out of formal finance because traditional credit scoring methods rely heavily on collateral and conventional financial histories.

“This means that entrepreneurs and microenterprises who previously struggled to demonstrate their potential through the conventional systems can now have a real chance to access the finance they need to grow”. Mr. Ngwabe stated.

CGC Chief Executive Officer, Mr. Dominic Sikakau, stressed that the system is not limited to the use of CGC’s guarantee products. He encouraged broad participation, noting that both Participating Financial Institutions and Non-Participating Financial Institutions can adopt the tool to expand MSME access to finance.

CGC Chief Executive Officer, Mr. Dominic Sikakau, stressed that the system is not limited to the use of CGC’s guarantee products. He encouraged broad participation, noting that both Participating Financial Institutions and Non-Participating Financial Institutions can adopt the tool to expand MSME access to finance.

The workshop was facilitated by Mr. Jeff Liew financial innovation advisor from Global Psytech, a leading data analytics firm shared how their psychometric credit assessment system work and can drive inclusive MSME financing in Papua New Guinea. Attendees engaged in interactive discussions, tested the system through personal assessment and received instant credit and entrepreneurial reports generated by the platform for each individual.

05/09/2025

Ratavul, East New Britain Province: Local cocoa entrepreneur, Tony Kove Karani, owner of Kololobe Cocoa Dealers, has expanded his operations by purchasing a new vehicle and building an office space, made possible through a Smart Bisnis Loan from the East New Britain Savings and Loan Society with the backing of Credit Guarantee Corporation (CGC) through its guarantee facility.

Mr. Karani’s financing marks the largest loan amount ENBSL has entrusted to a customer with guarantee by CGC. Highlighting both the risk and the trust involved in financing a seasonal agribusiness like cocoa, ENBSL Manager Member Services & Branch Support Mr. Lopa Alua said the decision was not easy.

“Tony was rejected by a few financial institutions before he came to us. I am grateful we have partnered with CGC, which made it possible for our Board to approve his loan by using CGC’s guarantee facility. The financing was provided through the Smart Bisnis Loan, designed for business owners seeking funds to expand operations or diversify their income streams” Mr. Alua said.

Mr. Alua further noted that Kololobe Cocoa Dealers has a proven track record of creating significant impact in the community. For over four decades, Mr. Karani has purchased cocoa from over a hundred families and farmers in surrounding villages, extending all the way to Lassul Baining area, providing a steady market for their cocoa beans.

Currently, the business employs six permanent staff and up to ten casual workers. It also owns a fermentary and is preparing to make its first overseas cocoa shipment.

Reflecting on his aspirations to start the business in the 1980s, Mr. Karani said:

“I told myself I cannot be a slave on my own land,” expressing his determination to build an independent enterprise that would give back positively to his cocoa farmers and families.

With all compliance requirements met, including assessments from the Papua New Guinea Cocoa Board and the National Agriculture and Quarantine Inspection Authority (NAQIA), Kololobe Cocoa Dealers is now working with ENBSL to secure the second round of financing to support its first export shipment, which is currently under negotiation with an overseas buyer.

CGC has reaffirmed its commitment to support ENBSL by providing access to finance, ensuring genuine local businesses like Kololobe Cocoa Dealers continue to grow and compete on a larger scale.

PICTURE FROM LEFT: CGC's Tony Deklin, Cocoa farmer Tony Karani, ENBSL's Lopa Alua.

01/09/2025

CGC PROMOTES ACCESS TO FINANCE DURING YOUNG MINDS CAMPAIGN

The Credit Guarantee Corporation (CGC) participated in the Young Minds Awareness Campaign in East New Britain Province under the theme “Save Now for a Better Future” from August 24th- 29th.

As part of the campaign, CGC set up an information booth and engaged directly with students, teachers, and surrounding communities. The awareness focused on building a savings culture among young people and sharing information about CGC’s role in enabling access to finance for small and medium enterprises (SMEs).

CGC highlighted its guarantee products and services, which can support entrepreneurs in starting or expanding their businesses when the need for financing arises.

Guarantee Evaluations Officer, Ms. Florence Koga, shared: “It was quite a challenge to explain technical financial terms like collateral to the students, but simplifying the concepts and helping them understand the importance of our role was truly satisfying”

CGC joined the Bank of Papua New Guinea and Centre for Excellence in Financial Inclusion and other financial institutions including East New Britain Savings and Loan Society , Kada Poroman Microfinance Limited, BSP Financial Group Limited, MiBank PNG, Nambawan Savings & Loan Society Limited NCSL, Kina Bank, TISA Bank, the Securities Commission of Papua New Guinea and representatives from the East New Britain Provincial Government.

Through this campaign, CGC reinforced its commitment to empowering future generations by ensuring they are aware of the financial instruments available to help turn savings and ideas into sustainable businesses.

26/08/2025

Representatives from seven different financial institutions participated in a one-day training session facilitated by the Credit Guarantee Corporation (CGC) to enhance their understanding of CGC’s guarantee products and services on August 25, 2025, in Kokopo.

The officers, who work in lending, recoveries, and relationship departments, represented East New Britain Savings and Loan Society (ENBSL), Kina Bank, FinCorp PNG, MiBank PNG, TISA Bank, Nambawan Savings & Loan Society Limited (NSLS), and Kada Poroman Microfinance Limited (KPML).

In his welcoming remarks, CGC Chief Executive Officer Mr. Dominic Sikakau thanked participants for their attendance and reiterated CGC’s role in supporting SMEs. He highlighted the collective economic benefits of increased SME lending and stressed the important role financial institutions play as enablers by extending credit with the backing of CGC’s guarantee, particularly for businesses lacking collateral.

The session, led by CGC’s Business Operations Manager, Mr. Tony Deklin, covered key topics including SME eligibility criteria, the guarantee application process, and how CGC’s products and services can strengthen SME lending practices.

Mr. Deklin also highlighted CGC’s Loan Referral Platform (LRP) as a crucial complementary service. The platform enables financial institutions to upload their loan products online for customers to browse and submit loan applications directly to the financial institution.

Mr. Lopa Alua of ENBSL in his closing remarks on behalf of the participants, said the session was both informative and engaging and commended CGC for bringing the training to the branch level in the province.

06/08/2025

Nine staff members from Moni Plus Relationship Department participated in a one-day training session facilitated by the Credit Guarantee Corporation (CGC) to enhance their understanding of CGC’s guarantee products and services on August 5th, 2025.

The session, led by CGC’s Business Operations Manager, Mr. Tony Deklin, covered key topics including SME eligibility criteria, the guarantee application process, and how CGC’s products and services can strengthen their SME lending practices.

During the session, Mr. Deklin highlighted CGC’s Loan Referral Platform (LRP) as one of CGC’s crucial complimentary service. This platform enables financial institutions like Moni Plus to upload their loan products online for customers to browse offerings and submit loan applications directly to the financial institution.

Mr. Karai Morea from Moniplus's Commercial Lending team confirmed the LRP’s effectiveness and shared that Moniplus have utilized the referrals from the platform and have successfully assessed several applications.

In his closing remarks Mr. Morea, acknowledged that while his team had heard of CGC, they lacked a clear understanding of how its guarantee service works.

He expressed appreciation following the session, thanking CGC for the awareness and training, and shared Moniplus’s commitment to leveraging the guarantee services to make finance more accessible to local MSMEs.

30/06/2025

Before the month ends, CGC extends its best wishes to all entrepreneurs.

Happy International MSME Day!

26/06/2025

We were honored to have the Business Operations team from Nambawan Savings & Loan Society Limitedy (NSLS), who conducted an awareness session for our staff on their products and services today.

The session covered NSLS’s goals, range of financial products, and the benefits of saving with them, reinforcing the value of building financial security through trusted institutions.

NSLS is one of our dedicated Partnering Financial Institutions, working alongside us to improve access to finance for MSMEs across Papua New Guinea.

👉 To learn more about our Partnering Financial Institutions, click here: https://lnkd.in/e4xVn6NH