The University of the South Pacific (USP), under the Pacific-European Union Marine Partnership (PEUMP) Programme, backed by the European Union and the Government of Sweden, recently held two community-focused financial literacy training sessions on September 26 and 27 in Mavana Village, Lau.
Named “Money-Minded Financial Literacy” and “Money-Minded Business Basics,” the trainings are designed to equip participants with essential skills for effectively managing income derived from marine resources, thus paving the way for future financial stability.
In partnership with the Australia and New Zealand Banking Group Limited (ANZ), this initiative is a part of the more extensive Money-Minded Financial Literacy Program, which is being implemented across the Pacific ACP region.
Dr. Jokim Kitolelei highlighted the importance of the program, stating, “Money minded a basic literacy program teaches people the skills to make informed choices with their finances and their future.” He emphasized that the agreement between USP and ANZ aims to deliver a community-based financial literacy initiative that enhances the livelihoods and sustainability of coastal communities in the Pacific-ACP area.
To ensure comprehension and accessibility, the training sessions were conducted in the iTaukei language.
Sailosi Dili, a representative from the Fiji Ministry of Fisheries based in Vanuabalavu, expressed gratitude for the training being available in the area, stating it is particularly relevant for local fishing communities, and voiced hope for more training opportunities in the future.
Key takeaways from the sessions included understanding needs and wants, budgeting, managing income between harvests, and planning for long-term financial stability.
Participants like Emele Balekawa from Uruole Village shared insights gained from the training, noting the value of business education, particularly in rural areas where such knowledge is often lacking. She remarked on the importance of making informed financial decisions and prioritizing family needs.
Another participant, Tupou Fotofili, from Sawana Village, echoed similar sentiments, expressing gratitude for the relevance of the training and the inspiration it provided to consider starting her own business utilizing local resources while assisting in her uncle’s enterprise.
The Money-Minded Financial Literacy Program is being implemented across Vanuatu, Fiji, Timor-Leste, and the Solomon Islands in collaboration with local ANZ offices.
USP serves as one of the four primary partners in the EUR 45 million PEUMP Programme, focused on promoting sustainable management and effective ocean governance to ensure food security and stimulate economic growth while addressing climate change and conserving marine biodiversity. This program adopts a holistic approach by intertwining issues related to ocean fisheries, coastal fisheries, community development, marine conservation, and capacity building.
The PEUMP initiative is financed by the European Union and the Government of Sweden and operates within the Institute of Marine Resources at the School of Agriculture, Geography, Environment, Ocean, and Natural Sciences at USP.