The University of the South Pacific (USP) has successfully conducted two community-based financial literacy trainings on September 26 and 27 in Mavana Village, Lau, as part of the Pacific-European Union Marine Partnership (PEUMP) Programme, which is funded by the European Union and the Government of Sweden.
The trainings, titled “Money-Minded Financial Literacy” and “Money-Minded Business Basics,” are designed to equip participants with essential skills for effectively managing their incomes derived from marine resources, thereby fostering financial stability for the future.
In partnership with the Australia and New Zealand Banking Group Limited (ANZ), this initiative contributes to the wider Money-Minded Financial Literacy Program being implemented throughout the Pacific ACP region.
Dr. Jokim Kitolelei emphasized the program’s objectives during the training, stating, “Money-minded is a basic literacy program that teaches individuals the skills to make informed financial choices for their futures. The agreement between USP and ANZ aims to enhance the livelihoods and sustainability of coastal communities in the Pacific ACP region through this community-based financial literacy initiative.”
To ensure accessibility, the trainings were conducted in the iTaukei language, making it easier for community members to understand the material.
Sailosi Dili, a representative from the Fiji Ministry of Fisheries based in Vanuabalavu, expressed gratitude for the training, stating, “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 learned valuable skills including identifying needs and wants, budgeting, income management during harvest cycles, and planning for future financial stability.
Emele Balekawa, a member of the Lomaloma Women’s Group, highlighted the training’s impact on her perspective, saying, “The training was incredibly valuable in teaching us how to start a business and shift our mindset. While starting a business in a rural area is challenging, I feel more empowered to make financial decisions, particularly in managing debt and prioritizing my family’s needs over community expectations.”
Tupou Fotofili, Secretary for Sawana Youth and staff of Fotofili Enterprise in Sawana Village, also appreciated the relevance of the program, noting, “The trainings were highly beneficial for communities like mine. They have inspired me to start my own venture using our natural resources.”
The Money-Minded Financial Literacy Program is set to expand in Vanuatu, Fiji, Timor-Leste, and the Solomon Islands through collaboration with ANZ country offices in each region.
USP serves as one of four key implementing partners of the EUR 45 million PEUMP Programme, which focuses on promoting sustainable management and sound governance of ocean resources for food security and economic growth while addressing climate change resilience and marine biodiversity conservation. The program takes a holistic approach, integrating various issues such as ocean fisheries, coastal fisheries, community development, marine conservation, and capacity building.
The PEUMP programme is funded by the European Union and the Government of Sweden and is managed within the Institute of Marine Resources at USP’s School of Agriculture, Geography, Environment, Ocean and Natural Sciences (SAGEONS).