Financial literacy training

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.

Out of the participants, 8,000 students across Papua New Guinea successfully attended financial literacy trainings from 108 schools visited this year.

BSP’s acting general manager - retail banking, Kili Tambua, says: “The Bank sees the need to provide this training to students to help them in managing their finances better as they grow up to meet the workforce.”

The training includes basics in budgeting, savings and mobile money and basics on banking education.