MINISTER for Environment, Conservation and Climate Change and Member for Port Moresby North-East, Hon. John Kaupa, has launched a three-day financial literacy training program targeting women and small business operators in the electorate.
The training began yesterday at the Sir John Guise Stadium Indoor Complex in Port Moresby, with about 5,000 people from the informal sector expected to benefit from the program.
The initiative aims to equip participants with basic financial management skills, including how to manage, save and bank money, while encouraging them to establish and sustain small businesses.
One of the trainers, Mrs Roselyn Wenambo, said the program was particularly important for mothers and small business operators living in settlements who depend on small-scale businesses for their livelihoods.
“Most of them are living off small businesses in the city, so they need these skills to broaden their mindset on how to manage their funds and how to save,” Mrs Wenambo said.
“Most of them don’t know how to save money. That’s the whole reason why we are running this training.”
Mr Kaupa urged participants to take the training and the Small and Medium Enterprise (SME) rollout seriously, saying small businesses are increasingly important as the cost of living rises and the country’s economy continues to grow.
“With the country’s economy growing, evictions in the settlements of Port Moresby and city life getting harder and harder daily, SME is our lifeline. Take it seriously and guard it well,” he said.
Mr Kaupa said the SME initiative is part of a National Government policy that he has been implementing in the electorate through associations since 2019.
He said the program would now provide support directly to individuals after they complete the required training.
According to Mr Kaupa, completing financial literacy training is a requirement before individuals can access government support under the SME program.
“This training will benefit you as an individual, as you will be taught how to make money, how to save money and how to bank your money,” he said.
Participants will also be introduced to banking services and assisted to open savings accounts.
The training is being delivered by volunteers from the Catholic agency Daughters of Mary Immaculate (DMI), which has previously conducted health, hygiene and financial literacy programs in settlements across Port Moresby.
Mr Kaupa said participants would not receive cash after completing the training. Instead, they would receive vouchers to collect materials needed to start or support their businesses.
The three-day training will be followed by voucher presentations within two weeks, allowing participants to collect their business materials and begin their businesses.