The University of the South Pacific (USP), through the Pacific-European Union Marine Partnership (PEUMP) Programme funded by the European Union and the Government of Sweden, successfully held two community-based financial literacy training sessions on September 26 and 27 in Mavana Village, Lau.
The sessions, titled “Money-Minded Financial Literacy” and “Money-Minded Business Basics,” are designed to equip participants with essential skills for managing income derived from marine resources and achieving financial stability for the future.
In partnership with the Australia and New Zealand Banking Group Limited (ANZ), this initiative is part of a wider Money-Minded Financial Literacy Program being implemented across the Pacific ACP region.
Dr. Jokim Kitolelei, who spoke at the training, stated, “Money minded a basic literacy program teaches people the skills to make informed choices with their finances and their future.” He added that the collaboration between USP and ANZ aims to deliver a community-based financial literacy program that enhances the livelihoods and sustainability of coastal communities in the Pacific ACP region.
The training was conducted in iTaukei language to ensure that all community members could easily understand and engage with the material.
Sailosi Dili from the Fiji Ministry of Fisheries, based in Vanuabalavu, expressed gratitude for the training, saying, “I am very grateful that this training was offered in Vanuabalavu. It is highly relevant to the needs of our fishing communities, and we look forward to more trainings in the future.”
Participants gained valuable insights into identifying needs and wants, budgeting, managing income between harvests, and planning for future financial stability.
Emele Balekawa from Uruole Village, a member of the Lomaloma Women’s Group, emphasized the training’s significance: “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 prioritize our family’s needs over the demands of the community and religious obligations.”
Tupou Fotofili, Secretary for Sawana Youth and staff member of Fotofili Enterprise in Sawana Village, also appreciated the training. “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 own venture, making use of our natural resources.”
The Money-Minded Financial Literacy Program is being implemented in Vanuatu, Fiji, Timor-Leste, and Solomon Islands in collaboration with their respective ANZ country offices.
USP is one of the four key implementing partners of the EUR 45 million PEUMP Programme, which supports sustainable management and effective ocean governance for food security and economic growth while tackling climate change resilience and protecting marine biodiversity. This comprehensive approach integrates issues concerning ocean fisheries, coastal fisheries, community development, marine conservation, and capacity building into a unified regional action.
The PEUMP Programme is financed by the European Union and the Government of Sweden and is administered by the Institute of Marine Resources within the School of Agriculture, Geography, Environment, Ocean and Natural Sciences (SAGEONS) at USP.