Over 60 villagers from the Ivon-Gore Ward, in the Sinivit LLG of Pomio District, have been financially empowered through a financial literacy training facilitated by the Kada Poroman Microfinance Limited (KPML).
The 63 block owners in East New Britain, residing off state lease land, underwent the training in three batches, and were given their certificates last Friday, January 20th.
Ward Member for Ivon-Gore and Vice Sinivit LLG President, James Vevut, said financial literacy is all about changing the mindset of people to improve their living standards.
“Thank you KPML for accepting our invitation to come and run this training. I want to thank the Ward Development Committee for recognising the need and supporting this program,” he stated.
The Ward Member further said prices of goods and services are rapidly increasing and thus, such training is vital to help people to look after their money and use it well.
Participant, Joy Temean, said the training has helped the villagers to know more about savings for their future needs and to actually budget and invest their hard-earned money.
Another participant, Henry Rarang, said the training has helped him to register his small business.
KPML CEO, Sankar Chiteti, said the training is aimed at helping people to better manage their finances.
“Among a lot of people, including the working class, there is a serious lack of financial discipline and knowledge to manage their finances,” he outlined.
“You have to spend wisely and learn to save for emergencies and future needs, like at the beginning of the year where we have to pay for school fees and at the end of the year where we celebrate the Christmas holidays.”
He said people cannot avoid expenses, but whatever amount a person saves, the outcome always makes a big difference.
Host LLG President and Deputy Pomio District Development Authority board chairman, Boniface Gerep, commended KPML for the commitment towards this training and acknowledged the Ward Member for bringing this training to his people.
“At present we only have a branch for ENB Savings and Loans Society at Palmalmal but this financial literacy training will still be extended to the other parts of the district, awaiting the completion of the election court case for the Pomio MP,” he said.