Farmer’s saving skills boosted

National

More than 700 farming families in Jiwaka can now access better banking knowledge on how to save money, a bank official says.
Bank of Papua New Guinea Assistant Governor Ellison Pidik said during the signing of the memorandum of understanding for financial literacy training between the Bank of PNG and Oxfam last Friday that people knew how to make money but lacked knowledge on how to save it.
Oxfam and Bank of PNG’s Microfinance expansion project (MEP) are partnering to provide financial literacy trainings to rural families in Jiwaka, Chimbu and Eastern Highlands over the coming years.
“The trainings will cover budgeting and saving for families’ liklik businesses, including gardening sales,” Pidik said.
Oxfam Livelihoods Programme manager David Shield said that these skills would assist families to be able to plan better for their financial futures in achieving financial goals.
“Farmers are already increasing their incomes through selling vegetables, onions and honey and with this support, they will be able to budget and save,” Oxfam senior business development officer Lynn Ibu said.
MEP staff will provide several trainings of trainers for Oxfam’s partner organisations in the Harvest programme, including Voice for Change in Jiwaka, along with KG Wan Eco-habitat Inc and Independent Reform and Restoration Movement (IRRM) in Chimbu.
The partners will then conduct trainings with their community members who are increasing their income under the Harvest programme that is co-funded by Oxfam and the New Zealand Aid programme.

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