Matavale members benefit from CBSI-Good Return Financial Literacy Training
Honiara: Matavale members benefit from CBSI-Good Return Financial Literacy Training
Women and girls from Matavale area in West Honiara, Solomon Islands have gained valuable knowledge and information from a five day financial training conducted by officers from the Central Bank of Solomon Islands, CBSI and Good Return.
The training has enabled women and girls to gain knowledge on how to develop family and personal budgets, short and long term plans of what they want to achieve in life and be able to save some money for unexpected circumstances.
In the training, women and girls were taught the abilities and processes in developing and understanding how to track their savings and spending, develop savings plans, debt reduction and budgeting.
They’ve also been taught how to develop personal and family budgets taking into consideration the money received in terms of salaries, remittances and business returns,
The emphasis is to make sure that people should not live beyond their means by spending more than they earn which resulted in incurring debts from money lenders and relatives which eats away personal and family money.
In the training, it was also emphasized that individuals and families should develop plans to save money to meet unexpected incidences relating to disasters, deaths and customary obligations such as bride prices and compensations.
The services provided by financial institutions in Solomon Islands were also highlighted at the training, encouraging participants to explore appropriate services they want such as savings, loans, insurance and mobile banking.
The women and girls were encouraged to know the features and conditions of the products before signing any document and if in doubt, seek information from trusted sources.
The training which should be conducted in seven weeks was held for five days for Matavale Women’s Association members as an introductory after which the association will choose two participants to attend a seven-week Training the Coaches which be conducted by CBSI and Good Return in May.
In her remarks at the close of the Training, Elizabeth Sodu said “The main objective of our training is to give you knowledge, skills, confidence and positive behaviours. As learners, you will be able to make informed and mindful decisions in order to strengthen your financial futures”.
She added that with various management tools introduced in the training, participants should use them, adapt and practice them daily at home to transform their behaviors and achieve their financial well-being in their families, communities and Solomon Island as a whole.
She added, “Financial literacy starts with you – doing the tools that you’ve learned here before we can be in the best position to influence our family members, in particular, and our communities”.
Office manager of Matavale Women’s Association, Charles Kereau thanked CBSI and Good Return in responding to their request to empower women and girls in financial literacy, especially young ones who will be planning ahead for their future and their families.
Mr Kereau explained, “With the agriculture-based projects the Matavale Women’s Association is implementing in the provinces where women are deriving income from, the training is very timely in that those who are being trained now, will be able to pass on the knowledge gained to women in rural areas so that they too can be able to develop the habit of saving and budgeting for their families”.
“Matavale Women’s Association, as an organization empowering women, the training is a step in the right direction in empowering women in Finance inclusiveness so that they too use financial services and products provided by the various financial institutions in the country” he added.
Mr Kereau said the training is in line with the organization’s motto which is “Empower and Woman, empower generations” which the organization is striving to achieve among all women in Solomon Islands.
The main trainer in the five days financial training is Freda Diau of the Central Bank of Solomon Islands.
Matavale Women’s Association will soon have a partnership agreement with CBSI and Good Return to add on to the other two partners, which are the Ministry of Women, Youth and Family Affairs and the Anglican Church of Melanesia.
Twelve participants including mothers and students attended the training, which a participant described as “crucial information and knowledge gained in their journey in life”.