Financial literacy

Entrepreneurs in 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.

Kimbe SME training

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.

Kabaira Financial Literacy Training

The program held was in the Mailivuan ward and was facilitated by Lamang Business Consultants.

The program was aimed at enabling the rural populace to achieve personal financial success through active participation in wealth creating opportunities and prudent money management practices.

The participants also received lessons on creating multiple streams of income as means for financial security, and the importance of forming a co-operative society as the basis for rural economic empowerment.

Morobe women upskilled in financial literacy

Under the brand ‘Women's Federation for World Peace’, the Morobe chapter gathered on Monday morning to open the highly anticipated event.

Dressed in their provincial colours of green, yellow and blue, the women welcomed the PNG State chapter president, Betty Kaim, the Jiwaka chapter and guest speaker, chief inspector Pauline Siaguru.

Speaking at the Our Saviour’s Chapel in Lae, Kaim said from just a small group, she now boasts a membership of over 280, where 271 of them are from Morobe while 16 are from Jiwaka.

3,005 graduate in financial literacy

Implemented by the Bank of PNG, 3,005 locals from across the four LLGs and wards of the district underwent a savings and budgeting module which will enable them to make wiser choices with their finances.

A graduation ceremony was held in Vanimo Town and was attended by Bank of PNG representatives, the Centre for Excellence in Financial Inclusion (CEFI), stakeholders from the finance and banking sector and the provincial government.

Project director of the MEP, George Awap, congratulated the Vanimo locals on their achievement.

Financial literacy an asset for the future

Over 400 Students at Mt Diamond Secondary School took part in Bank South Pacific’s (BSP) Banking Education and Financial Literacy Training that was conducted in August.

The training included Budgeting and Money management, but also included information on BSP Products and services and how it can assist customers in managing their money. BSP’s Waigani Banking Centre further assisted students to open Sumatin accounts.

Manus small businesses get financial training

 

The financial literacy training was conducted by the Central Bank of Papua New Guinea’s Microfinance Expansion Project and supported by the Australian Government through the Manus Support Community Development program (MSCD).

The Central Bank estimates 70 to 75 per cent of Papua New Guineans are excluded from accessing the formal financial sector, which leads to people being unable to save money and spend within their budget.

The financial literacy training was rolled out to six of the 12 Local Level Governments in Manus Province.

Challenges of life after sports

Captain of the PNG Hunters Ase Boas says that this is a sad reality that many face.

Boas and his team mates took part in a recent financial literacy training given by Digicel PNG.

The training focused on being money smart and ways to enable simple saving measures.

Facilitated by the Digicel Learning center, the one day training which was broken up into two separate sessions for the team helped the team to be more money minded in their approach to saving and spending.

Market vendors learn how to save

The women, who are part of the Widows Association based in Waigani, are mainly market vendors and earn their income through the sale of vegetables and cooked food at the main markets. 

They were taken through basics in budgeting, savings & mobile money and banking education by Bank South Pacific.

Association President, Maria Unde, said the information was very helpful and will make a difference for them who don’t have a regular and fixed income.

Strategy to look at SME financial literacy

Following the launching of the Second National Financial Inclusion Strategy 2016 – 2020 yesterday, Bank of PNG Governor, Loi Bankani, said SMEC was an important stakeholder in the financial inclusion exercise and have been considered in the plan.

He said it was a Government priority to boost the SME sector in PNG and has been identified as a key element of their strategies.

The NFIS 2016- 2020 identifies SME Finance as a ‘Strategic Objective’ number six with an access to and usage of finance SME’s.

This is done through: