Alluvial miners lack financial skills: Nasfund

IN the alluvial mining sector, many people fail to prosper because of their poor financial management skills, something which Nasfund is willing to assist in.
Nasfund executive manager special projects, Judah Waffi said some needed to be educated on how to save money and not to spend everything they earned.
Waffi said they lacked basic accounting and book-keeping skills to budget and save money.
“This is an area of need – to help locals save their earnings and watch it grow,” Waffi said.
“Many things have been discussed regarding alluvial mining and its technical side, but nothing is talked about on how to manage the finance that you make.
“It’s a systemic problem in our country – many people are not educated about money.”
Mining Minister Johnson Tuke urged alluvial miners to save money instead of spending everything they earn.
He said alluvial miners must change the way they conducted businesses and to harvest gold on a large scale.
Meanwhile, Waffi said they had partnered with the Morobe provincial government to help locals including small scale miners save with Nasfund.