Financial inclusion

Vanuatu makes significant progress on financial inclusion in one year

A briefing by the National Financial Inclusion Council (NFIC) provided an update on financial inclusion achievements made in the past year.

The Council, which is chaired by Prime Minister, Charlot Salwai Tabimasmas, includes ministers of key portfolios such as Tourism, Finance, Education and Agriculture and the Governor of Reserve Bank. 

Attendees heard about some of the new and upcoming innovative initiatives that are currently being tested and awaiting deployment in the market in the months to come.

One-third of adults in Vanuatu are financially excluded

The Financial Services Demand Side Survey (DSS) Report for Vanuatu also reported that a further 21% only access informal financial service instruments such as savings clubs, shop credit, moneylenders, or hire purchases, while 37% of Ni-Vanuatu adults have a bank account.  

Joe Natuman, Deputy Prime Minister and Minister of Trades, Tourism, Commerce & Ni-Vanuatu Business launched the publication at the Economic Symposium held by the Reserve Bank of Vanuatu (RBV) in Port Vila Wednesday 17 May.