Financial literacy training empowers 68 rural Papua New Guineans

Financial literacy training has empowered 68 individuals from Dampet and Danu villages in Papua New Guinea's Sentral Niu Ailan Local Level Government. The Niu Ailan Savings and Loan Society (NASALS) organized the week-long program, which concluded on Friday, July 10.

Participants, ranging from 18 to 65 years old, included students, farmers, fishermen, and small business owners. They gathered at the West Coast Development Foundation Training Centre in Danu village to learn essential financial skills. These practical lessons covered budgeting, saving, setting financial goals, managing debt, and future planning.

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teaching people how to manage their money is just as important as giving them access to financial services.

NASALS Chief Executive Officer John Mara highlighted the growing importance of financial knowledge as more rural Papua New Guineans earn income through various ventures. He stressed that teaching money management is as crucial as providing access to financial services. For many attendees, this was their first exposure to formal financial education, as rural families often rely on informal methods, leaving them vulnerable to financial issues and scams.

NASALS facilitators Gadlee Renikam and Paul Muld noted the strong turnout, indicating a rising demand for financial education in remote communities. They expressed hope that graduates will share their newfound knowledge, fostering stronger household finances and a savings culture. This initiative is part of broader efforts to enhance financial inclusion in rural New Ireland, ensuring residents have both access to services and the wisdom to use them effectively.

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the strong turnout showed there is growing demand for financial education in remote communities.