The University of the South Pacific (USP) successfully organized two community-based financial literacy workshops in Mavana Village, Lau, on September 26 and 27. These workshops, named “Money-Minded Financial Literacy” and “Money-Minded Business Basics,” are part of the Pacific-European Union Marine Partnership (PEUMP) Programme, which is funded by the European Union and the Government of Sweden.
The workshops aim to equip participants with essential skills to make informed decisions about managing income derived from marine resources, ultimately fostering financial stability for their futures. This effort is in collaboration with the Australia and New Zealand Banking Group Limited (ANZ) and aligns with the broader Money-Minded Financial Literacy Program being implemented throughout the Pacific ACP 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 highlighted the partnership with ANZ to deliver this community-oriented financial literacy initiative, which seeks to enhance the livelihoods and sustainability of coastal communities in the Pacific-ACP region.
To ensure understanding among local participants, the training was conducted in the iTaukei language. A representative from the Fiji Ministry of Fisheries, Sailosi Dili, expressed his gratitude for the training, noting its relevance to the needs of fishing communities and the desire for future programs.
Participants gained knowledge on budgeting, identifying needs versus wants, managing income between harvests, and planning for financial stability. Emele Balekawa from Uruole Village shared her insights, stating, “The training was incredibly valuable in teaching us how to start a business and shift our mindset.” She noted the challenges of starting a business in rural areas and highlighted the newfound assertiveness she gained around managing finances and prioritizing family needs.
Tupou Fotofili, Secretary for Sawana Youth and staff member of Fotofili Enterprise in Sawana Village, expressed her appreciation for the program, indicating that it inspired her to consider starting her own business using local resources, even while assisting her uncle’s business.
The Money-Minded Financial Literacy Program is being implemented across Vanuatu, Fiji, Timor-Leste, and the Solomon Islands, in collaboration with respective ANZ country offices.
USP is one of four key partners in the EUR 45 million PEUMP Programme, which aims to promote sustainable management and effective governance of ocean resources for food security and economic growth, while also addressing climate change and biodiversity conservation. The program integrates various issues related to fisheries, community development, marine conservation, and capacity building into a cohesive regional action strategy.