Financial literacy training for 8,000 students

Bank South Pacific (BSP), through its banking education program, has reached and delivered financial literacy training to over 21,000 participants in 2017.

Out of the participants, 8,000 students across Papua New Guinea successfully attended financial literacy trainings from 108 schools visited this year.

BSP’s acting general manager - retail banking, Kili Tambua, says: “The Bank sees the need to provide this training to students to help them in managing their finances better as they grow up to meet the workforce.”

The training includes basics in budgeting, savings and mobile money and basics on banking education.

Tambua said: "With the basic skills of budgeting and savings, we hope that we can help the population to be financial literate and be able to better manage money.

“The desired outcome for the delivery of this training is to get everyone to be financially independent, understand the basics of budgeting and saving, and to start applying these skills to their current lifestyle.

"Apart from educating them, we also arrange with BSP branches and banking centres to assist them open Kundu accounts and Plus Saver Accounts to build their savings," added Mr Tambua.

43 percent of the participants were women from all walks of life.

Press release