USA Offers Valuable Insights for SMEs in Papua New Guinea

Des Yaninen, an advocate for economic empowerment in Papua New Guinea, embarks on a US fellowship to gain insights and forge partnerships for SME growth, aiming to unlock opportunities and drive prosperity back home.

Image of Des Yaninen, an advocate for economic empowerment in Papua New Guinea, embarks on a US fellowship to gain insights and forge partnerships for SME growth, aiming to unlock opportunities and drive prosperity back home.

Des Yaninen, February 8, 2024

Des Yaninen, a passionate advocate for economic empowerment in Papua New Guinea (PNG), embarks on a transformative journey as one of 11 Young Pacific Island Economic Leaders selected for a prestigious professional fellowship in the United States (Hawaii).

Supported by the US government, this six-week program aims to equip participants with the tools and insights needed to drive positive change upon their return to their respective countries.

Over the past decade, Yaninen's mission to empower PNG's economic landscape has yielded impressive results. Through his firm, Pacifund, he facilitated the launch of nearly 100 SME businesses in 2023, resulting in a collective monthly revenue of K1 million and the creation of hundreds of new jobs.

Notably, these achievements were accomplished without government funding, highlighting the potential for grassroots initiatives to drive significant impact.

Yaninen's extensive experience with organizations such as NDB, SME Corporation, and MSME Council has shaped PNG's SME policy landscape. His advocacy efforts led to the establishment of initiatives such as the SME Concessional Loan Scheme, providing vital financial support to budding entrepreneurs.

In a recent development, Yaninen's collaboration with Mama Bank signifies a milestone in facilitating access to funding for women entrepreneurs through the Pacifund BizLaunch program.

Yaninen envisions PNG's economic future centered on promoting financial literacy and competency programs to empower individuals to create wealth. He emphasizes the need for active participation in the country's economic development, rejecting passivity and advocating for proactive measures to drive growth and prosperity.

Image: Des Yaninen

Engaging with the United States, a global leader in capital flows and entrepreneurship, Yaninen aims to leverage his fellowship experience to glean insights from established SME programs and forge strategic partnerships that will catalyze growth within PNG's SME sector and entrepreneurial ecosystem.

From fostering investment in startups to addressing systemic challenges and unlocking opportunities for marginalized groups, Yaninen's vision promises to usher in a new era of economic vibrancy in PNG.

Expressing gratitude to the people of America, the U.S. Embassy in Port Moresby, and the East West Center, Yaninen underscores the significance of bilateral cooperation in driving sustainable development.

As he embarks on this transformative journey, Yaninen's commitment to harnessing the potential of SMEs in PNG reflects a shared vision of prosperity and empowerment for all. With regular updates promised, the future holds promise for a dynamic and thriving SME landscape in PNG.

God Bless Papua New Guinea!

God Bless America!