Many lack financial literacy skills: Trainer

May 18, 2021 by toksavebot, Post Courier Online | BY PATRICK TOM

Many people in the macro small to medium business space still lack financial literacy skills thus it is important to undergo these training for growth and success.

Professor Binta Abubakar of Oshoma Business Consultant said 85 per cent of the MSMEs are women doing business and one thing that they lack is basic financial literacy skills to help them graduate from macro business in to the SME space.

Prof Binta said majority of these women undergoing basic financial training have learnt many new skills and express gratitude towards the local trainers engaged and have applauded the district for giving them the opportunity to access basic financial literacy training.

“Our aim is to train the women, men and youths about the basic financial literacy including book keeping, budgeting, business profiling and etc,” she said.

“We want to graduate them from macro business to SME so that they know how to run and operate on their own through their business groups or associations or individually, particularly for trade store owners.”

“We will be graduating 22,000 women, men and youths at the end of the year and possibly early next year and that depends on how many people or participants we have for the three days financial literacy training,” she said.

“We have engaged local trainers who have helped us break some of the barriers particularly in speaking their language and ensuring they understand the concept taught to them.”

Posted in: Papua New Guinea

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