Financial literacy training

Mama Bank conducted a free Financial Literacy Training at its Port Moresby Branch yesterday with 30 participants both from the formal and informal sector successfully graduating with a Financial Literacy Certificate.  

Pushpa Srinivas from Digication, was the special guest and the person who facilitated the in-house training for 10 Mama Bank Staff from various departments and functions. 

CEO for Mama Bank, Gunanidhi Das gave his Special remarks and words of encouragement and empowerment to the women who participated.

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 20^th.

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 training was facilitated by the EU Funded UN Joint STREIT Programme in a bid to strengthen community-embedded capacities in digital skills, digital agriculture, and financial inclusion in the Sepik region of Papua New Guinea. The training was aimed at building trainees' capacities as future Trainers of Trainers (ToTs) or Coaches.

The financial literacy program is delivered by fully certified NSL officers and covers five modules that cover the following topics:

Module 1 – Taking Charge of Personal Finances

Module 2 – NSL Superannuation Products and Services

Module 3 – Planning for Retirement

Module 4 – Buying Your Own Home

Module 5 – Financial Literacy Skills for MSMEs

The officers from Kokopo, Gazelle and Rabaul districts graduated on Tuesday, December 6^th after undergoing a three weeks-long training in Kokopo.

The 65 participants covered two modules; savings and budgeting.

CEFI principal trainer, Jill Pijui facilitated the training while representatives from CEFI Special Project Manager, Jeremiah Wenogo were present to witness the graduation and present the certificates.

USAID supports 477 people to graduate from financial literacy training in Lae, Morobe Province, with a majority 415 (87 percent) of the total number of graduates all women.

This is part of USAID’s commitment through the PNG Lukautim Graun Program (LGP) and its partnership with Center for Excellence in Financial Inclusion (CEFI), to deliver financial literacy training for Papua New Guineans, with a focus on economic empowerment of women and people from rural communities.

Nineteen participants graduated with financial ‘training of trainers’, recently and this training was made epossible through LGP in partnership with the Center for Excellence in Financial Inclusion.

Through the training program, representatives from provincial administrations, community-based organizations, faith-based organizations, and women’s groups learn how to conduct financial literacy training sessions for people in their home communities.

The training was delivered to 20 participants from various women’s groups, conservation groups and staff of Jiwaka provincial administration.

The training was conducted under the USAID LGP ‘Women’s Empowerment Program’ and aims to produce a pool of financial literacy trainers to specifically to support rural and remote communities in six provinces in Papua New Guinea.

Fifty-one women and men from the Talasea District took part in a two-week intensive training on financial literacy conducted by the BPNG’s Centre for Excellence in Financial Inclusion Initiative (CEFI) - a component of the Cocoa Livelihood and Financial Inclusion Project.

The Australian funded Cocoa Livelihood and Financial Inclusion Project aims to improve smallholder livelihoods through strengthening the business competency of farmers through financial literacy and business management training.

The Centre’s financial inclusion trainings and programs impacted the lives of more than 10,000 Papua New Guineans, 43 percent of them being women and girls.

More than 21,000 people received financial literacy training through the banking education programs.

This includes 8,000 students in 108 schools.

Girls and women have been given the opportunity to be smarter in handling their finances.

Participants described the training as an eye-opener and one that gave them confidence to make better decisions.