Graduates and trainers of the two money minded trainings.
[3rd October 2024: Mavana Village, Vanuabalavu, Lau]: The University of the South Pacific (USP), as part of the Pacific-European Union Marine Partnership (PEUMP) Programme, funded by the European Union and the Government of Sweden successfully conducted two community-based financial literacy trainings on 26 and 27 September in Mavana Village in Lau.
Titled Money-Minded Financial Literacy and Money-Minded Business Basics, the trainings aim 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.
“Money minded a basic literacy program teaches people the skills to make informed choices with their finances & their future.” said Dr Jokim Kitolelei, whilst speaking at the training. “The USP Pacific-European Union Marine Partnership Programme agreement with ANZ aims to deliver a community-based financial literacy program that will improve the livelihoods and sustainability of coastal communities in the Pacific-ACP region.”
The trainings were conducted in iTaukei language to ensure accessibility and understanding among community members.
Also, part of the training was a representative from the Fiji Ministry of Fisheries based at Vanuabalavu, Sailosi Dili. “I am very grateful that this training was offered in Vanuabalavu.” he said. “It is highly relevant to the needs of our fishing communities, and we look forward to more trainings in the future.”
Key outcomes from the training included identifying needs and wants, budgeting, managing income between harvests, and planning for future financial stability.
Reflecting on the highlights of the training, Emele Balekawa from Uruole Village, Lomaloma, member of the Lomaloma Women’s Group said, “The training was incredibly valuable in teaching us how to start a business and shift our mindset. Starting a business in a rural setting is challenging. While we have the desire to begin, we often lack the knowledge, as business skills aren’t something we’re taught growing up. I’ve learned to be more assertive with finances, especially in knowing when and how to say no to debt and overspending. It’s important to prioritize our family’s needs over the demands of the community and religious obligations.”
Tupou Fotofili, Secretary for Sawana Youth and Staff of Fotofili Enterprise (mini supermarket) located in Sawana Village was also grateful to be part of this 2-day program. “The trainings were highly relevant and beneficial for communities like mine.” she said. “While I’m currently helping with my uncle’s business, these sessions have inspired me to start my own venture, making use of our natural resources.”
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.
Media contact:
Lore Croker, USP Communications Officer, lore.croker@usp.ac.fj
