ANZ has expanded its Saver Plus financial education and matched savings program to the Solomon Islands, aiming to bolster the financial stability of local market vendors. This pilot initiative will involve 25 participants who will set savings goals, save over ten months, and participate in financial education workshops. At the conclusion of the program, ANZ will match their savings to alleviate cost-of-living burdens.
The initiative is in partnership with the UNDP Market for Change program. According to Heath Bruns, ANZ’s Country Head for Solomon Islands, this collaboration is designed to help participants acquire essential skills for enhancing their financial resilience. Patrick Tuimalealiifano, UNDP Team Leader for Inclusive Growth, emphasized the importance of financial education as a means to foster greater economic inclusion and development.
Having originated in Australia over 21 years ago, Saver Plus has successfully assisted more than 61,000 Australians in saving over $30 million, leading Bruns to describe the program as a valuable lifelong resource for financial well-being.
This expansion into the Solomon Islands follows a similar initiative in Fiji, where ANZ’s Saver Plus program also aims to empower market vendors and farmers. In Fiji, the program was noted to have included 70 participants who received matched savings to assist with living costs, focusing on enhancing financial literacy among women in the Pacific region.
The ongoing commitment to such financial education initiatives signals a hopeful future for participants in the Solomon Islands and across the Pacific, equipping them with the tools needed to navigate financial challenges and promote sustainable economic growth within their communities.
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