Graduates and trainers of the two money minded trainings.
[23 September 2024: Tanoliu Village, North Efate, Vanuatu]: The University of the South Pacific (USP), as part of the Pacific-European Union Marine Partnership (PEUMP) Programme, successfully conducted two community-based financial literacy trainings on 27 and 28 August in Northern Efate, Vanuatu. The PEUMP programme is supported by the European Union and the Government of Sweden.
These trainings, titled Money-Minded Financial Literacy and Money-Minded Business Basics, aims to provide participants with the necessary skills to make informed decisions on managing income from marine resources, building financial stability for the future.
In collaboration with the Australia and New Zealand Banking Group Limited (ANZ), this initiative is part of the broader Money-Minded Financial Literacy Program, delivered across the Pacific ACP region.
At the closing ceremony, Dr. Jokim Kitolelei, USP lecturer and PEUMP coordinator for the financial literacy project, emphasized the importance of these trainings for Vanuatu, where communities rely heavily on fisheries. “Financial literacy is critical for fishing communities. We hope these sessions will empower them to manage their finances effectively, reduce debt and stress, and make informed decisions to achieve their financial goals,” Dr. Kitolelei stated.
The trainings were conducted in local Pidgin English to ensure accessibility and understanding among community members.
Tele Bill, owner of the family-run Ocean Breeze Fishing Transport, shared his experience of the training: “The workshop was insightful. I gained valuable financial skills, including bookkeeping, which I can now apply to my business.”
Key outcomes from the training included identifying needs and wants, budgeting, managing income between harvests, and planning for future financial stability.
Reflecting on her learnings, Doroline Raymond, Finance Officer for the Tasivanua (translated as Sea and Land) Network, said: “Financial literacy isn’t something people are born with – it’s a learned skill. This program has equipped me with vital knowledge on prioritizing expenses, bookkeeping, and other skills that will help me effectively manage implementation funds in my role.”
The Money-Minded Financial Literacy Program program is being rolled out in Vanuatu, Fiji, Timor-Leste and Solomon Islands in collaboration with their respective ANZ country offices.
USP is one of four key implementing partners of the EUR 45million PEUMP Programme, which aims to promote sustainable management and sound ocean governance for food security and economic growth while addressing climate change resilience and conservation of marine biodiversity. It follows a comprehensive approach, integrating issues related to ocean fisheries, coastal fisheries, community development, marine conservation and capacity building under one single regional action. The PEUMP programme is funded by the European Union and the Government of Sweden; and housed within the Institute of Marine Resources within the School of Agriculture, Geography, Environment, Ocean and Natural Sciences (SAGEONS) of USP.
