The University of the South Pacific (USP) recently held two community-based financial literacy training sessions in Mavana Village, Lau, on September 26 and 27. These sessions were part of the Pacific-European Union Marine Partnership (PEUMP) Programme, funded by the European Union and the Government of Sweden.
The training programs, titled “Money-Minded Financial Literacy” and “Money-Minded Business Basics,” aimed to equip participants with essential skills for managing income derived from marine resources, helping them build financial security for the future.
In partnership with the Australia and New Zealand Banking Group Limited (ANZ), these initiatives are part of the larger Money-Minded Financial Literacy Program being implemented across the Pacific ACP region.
“Money-minded, a basic literacy program, teaches people the skills to make informed choices with their finances and their future,” stated Dr. Jokim Kitolelei during the training. He emphasized that the USP’s agreement with ANZ is designed to deliver community-based financial literacy programming that enhances the livelihoods and sustainability of coastal communities.
The training was conducted in the iTaukei language for better understanding and accessibility among the participants. A representative from the Fiji Ministry of Fisheries, Sailosi Dili, expressed gratitude for the training held in Vanuabalavu, calling it highly relevant to the needs of local fishing communities and hoped for future programs.
Key takeaways from the training included understanding needs and wants, budgeting effectively, handling income between harvests, and planning for financial stability.
Emele Balekawa from Uruole Village, a member of the Lomaloma Women’s Group, shared her appreciation for the value of the training, noting it provided insights into starting a business and shifting mindsets. Balekawa highlighted the challenges of initiating a business in rural areas and the importance of prioritizing family needs over community pressures.
Tupou Fotofili, a staff member at Fotofili Enterprise in Sawana Village, also valued the training. She expressed that the sessions were pertinent to her community and inspired her to consider starting her own business utilizing local resources.
The Money-Minded Financial Literacy Program is currently being implemented in Vanuatu, Fiji, Timor-Leste, and the Solomon Islands in collaboration with ANZ offices in those countries.
USP serves as one of four key implementing partners in the €45 million PEUMP Programme, which promotes sustainable management and sound governance of ocean resources for food security and economic growth, while addressing climate change resilience and the conservation of marine biodiversity. The program integrates multiple issues related to fisheries, coastal development, marine conservation, and capacity building.
The PEUMP program is funded by the European Union and the Government of Sweden and is managed by the Institute of Marine Resources at USP’s School of Agriculture, Geography, Environment, Ocean, and Natural Sciences.