The Centre for Excellence in Financial Inclusion
Papua New Guinea

Engage : 1st Financial Education Graduation – Momase Region

The Saint Augustine Katolik Youth (SAKY) were honoured to graduate 3,000 people on Friday 26th February 2016 at the Waduin Primary School in Madang Province. The ceremony was witnessed by Madang Governor Honourable Jim Kas, program cofounders Asian Development Bank (ADB) and the Australian Government (AusAID), training contractors Komaka One (K1) Association and representatives from the Bank of Papua New Guinea and the Microfinance Expansion Project.

The graduating students were from the Sumkar, Ramu, Bogia and Madang Open District and comprised of people from all segments of the community included women, mothers, the youth and the elderly. The trainers from the Microfinance Expansion Project initially ran the Train the Trainer course on Budgeting and Saving to NGO group K1 Association who in turn subcontracted the training to faith-based group SAKY. The week-long tranings were run in the surrounding districts of Madang Township and resulted in a total of 3,000 successfully completing the program. The Madang Governor was guest of honour at the ceremony and was challenged to see individuals continue to educate themselves in the areas of personal finance management and pledged to support the efforts of SAKY, K1 Association and the Microfinance Expansion Project in the Financial Education Program in his province.

The training programs teaches skills in setting financial goals, living within their means, setting saving goals, budgeting and keeping records of expenses to name a few. Apart from the Budgeting and Savings modules, there are four more modules that will be taught at a later stage, this will require assistance from stakeholders to make this vision a reality. The Microfinance Expansion Project strives to graduate at least 170,000 people by 2017 with the support of donor agencies, the Central Bank and Government of Papua New Guinea.

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