More than 30 entrepreneurs from informal sector operators in Port Moresby were equipped with much needed financial literacy training.
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.
“The training was aimed at not only ensuring that participants were financially literate, but also gave them an inside look of how banks assessed loan applications and what borrowers had to do to qualify for funding,” Mr Yaninen said.
He said the participants gave very positive feedback that the training was inspiring, motivational, informative and engaging.
One of the participants Jennitha Japhetz, a fly-in fly-out mine worker and owner of fashion SME Island Elegance said: “My company will blossom going forward with the wealth of knowledge that you dedicated yourself for two days to educate all of us with.”
The participants were also able to learn from each other and were given the opportunity to market their SMEs.
Mr Yaninen said what many of them enjoyed the most was the "Make K10,000 a month" challenge where winners were encouraged to develop a viable business model that will make over K10,000 per month from a minimal starting capital.