Financial Literacy training is vital for Small to Medium Enterprises (SMEs) as it will assist them to apply for funding.
Twenty-five thousand women in the Port Moresby North East Electorate have been empowered to venture into SME after completing a financial literacy-training program.
The certificate they receive from this training will enable them to apply for funding support from the Moresby North East Holdings.
The SME policy by the Government is empowering women to venture out and earn their own money instead of depending on their husbands, partners or family members.
Member for North East, John Kaupa is investing in the women in his electorate through the Moresby North East Holdings.
Trainer, Lins Wei said the women were taught basic financial training on how to budget and to manage their cash flow.
“The funds will be distributed from Moresby North East Holdings to their Associations. The Associations will fill out the applications then will debit the money into accounts”, said Wei.
In order to receive financial support the women are required to have a bank account, present their ID cards and have a certificate in financial literacy.
On Tuesday, 305 women, mostly housewives graduated under the financial literacy training program.
This batch is part of 3000 women from the electorate who have attended and graduated from the training so far.
Michael Mell, Managing Director for NDB encouraged the women to start small and grow their businesses.