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Twenty-seven employees of InterOil graduated on Friday (1/05/15) last week attaining participatory certificates in financial literacy on Savings and Budgeting rolled out by BSP.
The four day training covered 2 groups of employees from the Port Moresby office studying the financial literacy modules of budgeting and savings.
BSP’s Banking Education Officer Vani Vani said that there is a great need for many Papua New Guineans to be financially literate.
“I believe that with this program it will help many people in PNG to learn how to properly budget their money and also save some of it,” Mr Vani said.
“A lot of Papua New Guineans are still financially illiterate and this program will help, there is a great need for more people saving their money, particularly for emergencies but more importantly for their future.”.”
InterOil employee and participant Peter Boru heaped praise for the program as it has helped him to be more aware that saving money and budgeting was important to himself and his family.
“For some we know how to budget and save cost for our company but for ourselves we struggle to do that at home and the same can be said for many Papua New Guineans.” Mr Boru said.
“I believe the team here has learnt a lot and I’ve learnt a lot and we can now start budgeting and also saving for the future and the family,” he added.
Female participant Elsie Girisa also shared the same sentiments said it was a very interesting 2days for her as she also learnt a lot of things from the training.
“The Financial Literacy program has helped us to manage our financial affairs better and in the long run it will help improve our lifestyles.” She said.
BSP is working in partnership with the Bank of Papua New Guinea’s (BPNG) Microfinance Expansion Project (MEP) to deliver training on modules in savings, budgeting and mobile money. BSP has set an ambitious target of 60,000 participants, 40% of which will be women.
Since its launch in September in 2014over 4, 000 participants have undergone training by the banking education team. The financial literacy partnership will be reviewed at the end of August 2015.