Moreen Ison (Binge Village) purchasing store goods from New Century City Limited for resale at her Trade Store accompanied by other recipients .
Twenty-five women from the Community Mine Continuation Agreement (CMCA) Trust region recently completed a week-long financial literacy training program at the Peter Torot Center in Kiunga. This initiative, organised by the Ok Tedi Development Foundation (OTDF), is aimed to equip these women with crucial financial management skills.
Throughout the training, participants gained insights into the significance of saving, budgeting, and maintaining financial discipline. This knowledge is critical for managing their finances effectively, supporting their families, and enhancing their living standards. At the end of the training, these twenty-five women were awarded certificates of participation, marking their achievement.
One notable outcome of the training was Barbra Uako from Mipan Village in the Middle Fly CMCA Trust Region, who became the first participant to secure a loan from MiBank. She used the funds to purchase stationery for resale, marking a significant milestone in her journey towards financial independence.
Following this success, eight additional women from the training group obtained loans to invest in their local businesses. Among them is Denise Koma Albert from Timindemesuk, who invested in fuel for her outlet and stock feed for her poultry business. Her entrepreneurial spirit demonstrates the positive impact of the financial literacy training.
According to the OTDF Business Development team, this training initiative is crucial for raising sustainable businesses and promoting financial independence among these women. It also raises a culture of savings and entrepreneurship within their communities. With ongoing support and education, these women are self-assured to become role models, inspiring others to take control of their financial futures.
The success of this program highlights the vital role of financial literacy in empowering individuals and driving economic growth in the CMCA communities. As these women build their financial wisdom, they are contributing to a more prosperous and self-reliant future for Western Province.