The University of the South Pacific (USP) successfully conducted two community-based financial literacy trainings on 26-27 September in Mavana Village in Lau.
The Money-Minded Financial Literacy and Money-Minded Business Basics trainings were part of the Pacific-European Union Marine Partnership (PEUMP) Programme funded by the European Union and the Government of Sweden. It sought to provide participants with the necessary skills to make informed decisions on managing income from marine resources, and 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 programme that 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 the iTaukei language to ensure accessibility and understanding among community members.
Fiji Ministry of Fisheries representative Sailosi Dili is based in Vanuabalavu and was part of the training.
“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, Lomaloma Women’s Group Emele Balekawa from Uruole Village 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 prioritise 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 the two-day programme.
“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 venture, making use of our natural resources.”
The Money-Minded Financial Literacy Program programme is being implemented 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 at USP’s School of Agriculture, Geography, Environment, Ocean and Natural Sciences (SAGEONS).
