Market vendors and farmers supplying the Suva, Nausori, and Ba Municipal Markets will take part in the pilot ANZ Saver Plus matched savings and financial education program.
ANZ Fiji Country Head, Rabih Yazbek, announced that the pilot will include 70 participants from Fiji. These individuals will set savings goals, save for ten months, and attend MoneyMinded or MoneyMinded Business Basics financial education workshops. At the end of the program, their savings will be matched by ANZ, up to $500, to help alleviate living costs.
The participants, comprised of market vendors and farmers, are involved through the UN Women Markets for Change project. Yazbek noted that the pilot, in partnership with the UNDP, aims to support the broader economic empowerment of women in the Pacific.
“Saver Plus is a straightforward and effective way to support the Reserve Bank of Fiji’s objectives of enhancing financial literacy and security for all Fijians,” Yazbek said.
He expressed pride in the impact Saver Plus has had over the past 20 years, indicating it has offered lifelong benefits for many in terms of financial wellbeing and confidence.
ANZ originally developed the Saver Plus matched savings program over two decades ago in Australia, partnering with Brotherhood of St. Laurence. Since its inception, the program has helped over 58,000 Australians improve their financial situations, with participants saving more than $29 million collectively, while ANZ has contributed over $24 million in matched savings.