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, recently held two community-based financial literacy training sessions on September 26 and 27 in Mavana Village, Lau.
The sessions, named “Money-Minded Financial Literacy” and “Money-Minded Business Basics,” focused on equipping participants with the skills needed to make informed decisions regarding the management of income from marine resources, aiming to build financial stability for the future.
In partnership with the Australia and New Zealand Banking Group Limited (ANZ), this initiative is part of the larger Money-Minded Financial Literacy Program, which is being implemented across the ACP Pacific region.
Dr. Jokim Kitolelei emphasized the importance of the program, stating, “Money-minded is a basic literacy program that teaches people the skills to make informed choices with their finances and their future.” He mentioned that the collaboration between USP and ANZ seeks to enhance the livelihoods and sustainability of coastal communities in the Pacific-ACP region.
The training sessions were conducted in the iTaukei language to ensure that local community members could fully engage and understand the material presented.
A representative from the Fiji Ministry of Fisheries stationed at Vanuabalavu, Sailosi Dili, expressed gratitude for the training, highlighting its relevance to local fishing communities and expressing hope for future sessions.
Key topics addressed during the training included distinguishing between needs and wants, budgeting, managing income between harvests, and strategies for achieving financial stability.
Participants like Emele Balekawa from Uruole Village, Lomaloma, a member of the Lomaloma Women’s Group, shared positive feedback about the training’s impact. She noted, “The training was incredibly valuable in teaching us how to start a business and shift our mindset. Starting a business in a rural area comes with challenges, and while we have the desire to begin, we often lack the necessary knowledge.” She emphasized the importance of being assertive with finances and prioritizing family needs.
Tupou Fotofili, Secretary for Sawana Youth and employee at Fotofili Enterprise, a mini supermarket in Sawana Village, also found the training beneficial. “These sessions have inspired me to start my own venture, utilizing our natural resources,” she said.
The Money-Minded Financial Literacy Program is set to expand into Vanuatu, Fiji, Timor-Leste, and Solomon Islands in collaboration with local ANZ offices.
USP plays a key role as one of the four main implementing partners of the EUR 45 million PEUMP Programme, which focuses on sustainable management and effective ocean governance to enhance food security and economic growth while addressing climate change and marine biodiversity conservation. This program takes a comprehensive approach by integrating issues related to ocean fisheries, coastal fisheries, community development, marine conservation, and capacity building into a unified regional action.
The PEUMP programme is funded by the European Union and the Government of Sweden and is managed within the Institute of Marine Resources, which is part of the School of Agriculture, Geography, Environment, Ocean, and Natural Sciences (SAGEONS) at USP.