Financial literacy

The organization is rooted in Christian values and is inspired by the Parable of the Great Banquet.

Alleviate Inc. empowers individuals spiritually and economically through Bible studies, financial literacy programs, and workshops such as the "Art of Preaching."

They also distribute essential supplies and meals, serving 25,000 people annually across multiple locations in Port Moresby.

Alleviate Inc. plans to expand its initiatives in the future, including adult literacy programs, healthcare services, and the establishment of an orphanage and school.

The revised training module is the first of its kind in PNG, designed exclusively by Westpac to help Papua New Guineans feel more 'money confident' and equip individuals and businesses with the knowledge and tools needed for financial success.

As part of Westpac’s commitment to making financial literacy accessible to everyone, the new training builds on the success of Westpac’s financial education program, which was launched this month in Lae and Port Moresby.

The collaborative effort resulted in a highly beneficial one-day Financial Literacy Training held on July 10, in Port Moresby. The training, conducted by certified Financial Literacy trainer Daniel Walo from Project Alleviate, aimed to equip the association's members with essential tools for managing and growing their finances effectively.

The training supported by the organization is aimed at equipping these employees with financial skills in preparation for the company's upcoming retrenchment program.

Many of these employees were employed in the civil aviation industry prior to the civil aviation reforms and had transitioned to the NAC.

NAC Acting Managing Director and CEO Joseph Kintau said, “These dedicated individuals have spent a significant portion of their professional lives in the aviation industry, and we extend our sincere gratitude for their unwavering service and dedication.

Over the last four months, the USAID, through its PNG Lukautim Graun Program, have trained 1,168 people, mostly women, in the two provinces.

The aim is to increase financial literacy in rural and remote communities throughout Papua New Guinea.

These participants now have a better understanding in the basics of savings and budgeting, the foundational skills for creating enterprises and increasing household and personal financial security.

Mamak, a participant in the recent UNDP supported Entrepreneurship and Innovation Course described it as a solution to the rising number of unemployed youth and social problems on Bougainville and Papua New Guinea.

The training is aimed at fostering employment and entrepreneurial skills, as well as having access to business development and services from the ‘Bougainville Innovation Hubs’.

Mamak said the training teaches one to value themselves, understanding their own strengths, weakness and potential to grow.

Through a competitive process, the United Nations Capital Development Fund (UNCDF) selected four players.

They are PNGX Markets, Tok Stret Consulting, Westpac and Agbook.

They will be signing a Performance-Based Grant Agreement with UNCDF to deploy gender-responsive trainings and capacity building inputs that meet the needs of the informal women traders, women micro-entrepreneurs, and formally established women led businesses and Small, Medium Enterprises (SMEs).

They also presented CEFI with ‘Accreditation of Courses’ certificate to help conduct the courses at an official presentation on March 7.

BPNG’s Acting Assistant Governor for Financial System Stability Group (FSSG), George Awap, when accepting the certificates on behalf of Acting Governor Bank of PNG Guinea and Chairman of CEFI Board, Benny Popoitai, thanked NTC for being a standard setting institution.

Under this training, 38 participants graduated with their Financial Literacy Certificates a boost to run their businesses.

The training was organized by Pacifund, which is a financial brokerage and advisory firm and facilitated by CEO Des Yaninen.

The participants with his training will assist them to establish small businesses in diverse industries from honey production to fashion and construction.

Training facilitator, Lamang Business Consultants (LBC), say they now have to book additional spaces to cater for the increase in numbers. The training is set for this weekend

LBC attributed the surge to the trending need in entrepreneurship and financial literacy, which are prerequisites to SME loans.

The program is part of a nationwide entrepreneurial campaign that focuses on empowering Papua New Guineans to embrace entrepreneurship as the way forward for wealth creation and financial success.