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2012 Annual Conference and the 1st African SPM Conference
from 24/09/2012 to 29/09/2012
Kampala (Uganda)
The Africa Microfinance Network (AFMIN) will organize its 11th Annual Conference
and the 1st African SPM Conference in Kampala, Uganda, from September 24th to 29th, 2012
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Financial education in the Pacific
January 26, 2012
ACP/EU MICROFINANCE LETTRE NEWSLETTER #2 | JANUARY 2012
ACP/EU MICROFINANCE and PFIP*: introducing financial education within the Fijian school curriculum
While the Pacific region is still considered as one of the least-banked regions in the world, it is becoming a forerunner in terms of financial education, particularly
to its youth: in 2009, at the Pacific Islands Forum, the Forum Education and the Forum Economic Ministers’ Meetings agreed on working to expose all school children
to financial education by 2020.
“The wellbeing of rural households can be quantifiably improved if one person in that household attends financial literacy training and has a savings account”,
says a study on Financial Capability, Financial Competencies and Wellbeing in Rural Fijian Households, conducted by PFIP in 2009. In the framework of its work
on the subject, PFIP, together with the Fiji Ministry of Education, is managing the Fiji Financial Education Curriculum Development (FinED Fiji) Project, to introduce
financial education within the school core curriculum by the 2013 school year.
FinED Fiji will bring knowledge, skills and confidence in money-handling to Fijian kids, by embedding financial education within the school curriculum: from
Maths, English, Social Studies subjects (Primary), to Commerce Studies, Maths,English, Accounting and Economics subjects (Secondary). Its success is based on a
strong involvement of the Ministry of Education, FinEd regional champion teachers and schools across Fiji, and funding by the Australian Aid Bilateral Program in Fiji.
Since its launch in January 2011, FinED Fiji has achieved its framework development phase and has started developing learning and teaching materials. The selection
and training of champion teachers has been achieved and planning for school testing and teacher training capacitation has started. Last November, regional
primary and secondary school teachers, Ministry of Education officers and staff from the Ministry’s Curriculum Advisory Services Team underwent two four-day
workshops in Suva, to learn innovative methods to impart knowledge to students through educational lessons and games designed to teach children how to manage
their money and their investments.
Through their years at school, children will progressively learn what money is,how to save, budget and spend wisely, how to generate and manage income and
wealth, how to plan for the future and manage financial risks, etc. From 2013 on, 910 schools (735 primary, 175 secondary) gathering 197,000 students (40% of whom are
female), will receive financial education on an annual basis.
* PFIP (Pacific Financial Inclusion Programme) was developed in 2008 to provide sustainable financial
services to low-income households. It is funded by UNDP UNCDF, AusAid and the European Union
(through ACP/EU MICROFINANCE).
OTHER NEWS
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- What the world can learn from the Indian microfinance crisis?
- Mauritanian youths launch microfinance fund
- Liberia : CBL Launches L$200m Loan Extension Assistance Facility
- Nigeria: Fortis Mobile Money signs MoU with NAMBLAG
- Careful New Review of Randomized Trials of Microfinance
- Gold Backed Loans: Unlocking Liquidity for the Poor?
- The SEEP Network and MIX Present A Conversation on Financial Inclusion in Africa with Audrey Lintho
- Nigeria: CBN Initiates Bills To Improve Payment System
- 137 Million of World’s Poorest Received a Microloan in 2010
