SUNBIZ

Deal To Strengthen Financial Literacy For iTaukei Communities

Efforts are being undertaken to strengthen financial literacy for the iTaukei communities at all levels. A memorandum of understanding was signed yesterday between the iTaukei Affairs Board and Westpac on
03 Nov 2016 11:00
Deal To Strengthen Financial Literacy For iTaukei Communities
Westpac Fiji general manager Brett Hooker with the Ministry of iTaukei Affairs Permanent Secretary and chief executive of the board Naipote Katonitabua..

Efforts are being undertaken to strengthen financial literacy for the iTaukei communities at all levels.

A memorandum of understanding was signed yesterday between the iTaukei Affairs Board and Westpac on this at the Bose Levu Vakaturaga Complex in Suva yesterday.

The iTaukei Affairs Board will be Westpac’s preferred facilitators for financial literacy training.

Westpac Fiji general manager, Brett Hooker, said this will help iTaukei leaders, communities and micro entrepreneurs from the 14 provinces to help build sustainable and profitable futures.

“We provide these programmes not only in urban areas but go to rural and maritime zones and conduct trainings in the vernacular suitable and understandable to all participants,” he said.

Complimenting their training is Westpac Instore Banking.

Mr Hooker said this allows rural communities to have greater opportunities to manage money themselves – signing up for their own bank accounts and managing their own affairs independently.

Ministry of iTaukei Affairs Permanent Secretary and chief executive of the board, Naipote Katonitabua, said this marks a key milestone in the iTaukei administration.

He said it would help improve its facilitative role in providing a platform for advancing financial literacy for local level leaders.

“Together with Westpac our roll out plan for the training will initiate with the chiefly village’s leaders of the 14 provinces in Fiji,” he said.

“This strategy seeks to reaffirm iTaukei values of communal ownership, community participation and transformative leadership.”

The agreement is for three years.

 

Overview of MOU

It has been seen that sustainable resource income generating projects for iTaukei communities has had its fair share for challenges but also successes in the past.

The Ministry of iTaukei Affairs together with the iTaukei Affairs Board has been leading body that provides a facilitative role in the improving community capacities for sustainable management of iTaukei resources and income generated from these.

Edited By: Rachna Lal

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