Women and jobless helped to thrive in informal economy

By HELEN TARAWA
THE informal economy is growing fast but people involved in it lack financial literacy, Religion, Youth and Community Development Secretary Anna Solomon pictured, says.
Solomon told The National that the department took the informal economy under its arm because it involved women, young people and persons living with disabilities.
“It is their bread and butter. When you ask who participates, it’s the youth, women, people living with disabilities and unemployed parents,” she said.
“Unemployed (people) are involved in the informal sector.”
Assistant Secretary Israel Luluaki is the head of informal economy section in the department.
Solomon said the components were financial inclusion and the provision of goods and services.
“The government has delivered roads, jetties, wharves, dinghies, markets as the goods and services,” she said.
“Moresby South and Milne Bay have built transit houses for the vendors who can use them and remain in town to sell their produce. These are the goods and services that are being provided but there is lack of financial literacy.”
Solomon said the department was organising training on financial literacy.
“We need to have a data base also to determine who is providing what kinds of services,” she said.
“For us the focus in this section is financial inclusion because many of these people involved in this sector are doing well but lack financial literacy.
“We work with Ginigoada and the commercial banks that are providing the financial literacy services.
“Informal economy is a description of the activity. We are not interested in the activity but the people who can support it.”