Rural Morobe women train in financial literacy

Momase, Normal
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The National, Thursday 18th April 2013

 MORE than 600 women from rural villages in Markham and Madang completed a financial literacy training at Zumara village last week.

Women empowerment manager of Nationwide Microbank, Gima Kepi, ran the three-day intense financial literacy training for 637 women from villages in Markham Valley, Laecity and Madang.

The women were taught skills in budgeting, goal saving and loan processing calculations using the bank’s MiCash system.

“I am so delighted to see a huge number of rural women interested in learning how to save money and do business,” Gima said.

The women were separated into groups and were taught using their own dialect for two days.  

Women from Awara/Wantoat, Leron, Yankawan, Markham Headwaters, Atzera, Madang and Lae were grouped together and a trainer was identified to teach them in their own dialect.

They were taught how to calculate loans, how to apply and access Microbank’s Speed Loan product using their MiCash accounts and mobile phones.

“You can just apply for a loan from your homes using your digicel mobile phones,” Gima said.

“You do not need to come to town and fill out forms and papers.  

“It’s time-consuming and very costly.  

“Just complete a “speed loan” application from where you are using your mobile phone and your loan can be approved within five minutes,” she said.

Muarutzan Investment Ltd, a local company in Markham and an agent of Nationwide Microbank funded the training for the rural mothers, most of whom are illiterate. 

The company spent K5,500 to bring together the women from remote locations in Markham and four districts of Madang.

The company provided logistics by moving 30 women from Raicoast, Bogia, Karkar and Madang districts and also provided accommodation and meals for them over the three days.

Company executive director David Iriap said: “Women in Markham have been ignored and rejected for too long.  

“Now Muarutzan wants to empower you with skills because the company believes in promoting women participation in business.

“No Markham woman owns any kind of business. After this training, the company is keen to see one of you become a model in our district.”

Muarutzan Investment Ltd general manager Watson Gabana challenged the women to make use of the knowledge and apply the skills in their villages and localities.