Primary Schools and teachers awarded for commitment to Financial Education

September 20, 2017

DSC_0509Suva, Fiji – Four primary schools in Fiji and three teachers have each been awarded Financial Education (FinED) Innovation Awards for their commitment to applying financial education learnings through innovative projects as part of the inaugural RBF Financial Education Innovation Awards

The Awards celebrate the achievements of primary schools in Fiji that have supplemented the FinED learning in their classrooms with innovative FinED projects.  These projects allow students to enhance and demonstrate their FinED learning through real-life application of sound money management practices.  By putting into practice their classroom learning, students who may not typically interact with money on a daily basis, have the opportunity to transform their understanding on: the value of money, financial services and products available, accessing these and of mitigating and managing financial risks, amongst others.

The entries were judged based on the impact that the FinED projects have had on the lives of the students, their families or community in the areas of saving, spending wisely and investing and whether the financial behaviour of the students have been impacted.

Two notable winning entries to the awards were:

  • Ratu Ravuama Vunivalu Memorial School under the championship of Year 6 teacher Betty Carter Sukulu-Rasaku became the first-ever primary school to invest in units with the Fiji Holdings Unit Trust. The project started in 2016 with 28 students being granted 50 units in addition to their savings.  Today their investment totals $3,037.00.  This project led to Fijian Holdings Unit Trust and the school to launch an investment campaign to create awareness for the whole school and the school community.  The school is also working toward starting a small farm to encourage the students to learn critical farming and money management skills.
  • Sigatoka Special School also received a commendation for the lessons that it had undertaken for children with special needs. The judges were impressed by the level of comprehension and understanding shown by the students on the various money values together with their application of budgeting and income generation skills.

The Reserve Bank of Fiji Governor Mr. Ariff Ali, said that the judging panel (RBF, Ministry of Education and PFIP) were very impressed by the submissions to the awards. 

“We are very proud of this successful project and with each passing year, we are witnessing more and more inspirational impact stories where students who have received the FinED learning are changing the way they interact with money and increasingly thinking about saving for their future,” he said.

“Whilst the project has officially been handed over to the Ministry of Education for their full management, the RBF and the Pacific Financial Inclusion Programme are happy to announce support for these awards to be extended for another year,” he added.

The winning primary schools received $2,000 cash plus a trophy while the winning primary school teachers received $1,000 cash with a trophy

The winners were awarded at the Fiji Head Teachers Association Annual Conference that was held from 14 -15 September 2017.

The awards were funded by the Australian Government through the Pacific Financial Inclusion Programme – FinED Fiji Project.

 

List of winning schools and teachers

 

District

Name

School/Teacher

1

Innovation Recognition

Sigatoka School for Special Education

School

2

Western

Maigania Muslim Primary School

School

3

Western

Zahida Ali (Arya Kanya Pathsala)

Teacher

4

Northern

Muanidevo Primary School

School

5

Central

Ratu Ravuama Primary School

School

6

Central

Betty Carter Sukulu-Rasaku (Ratu Ravuama School)

Teacher

7

Maritime

Kitione Ligavatu (Uluinakorovatu Primary School)

Teacher

 

 

About FinED Fiji Project

Supported by the Australian Government, FinED Fiji is an initiative of the Pacific Financial Inclusion Programme (PFIP) in partnership with the Ministry of Education and Reserve Bank of Fiji.

Fully implemented nationwide since April 2013, through FinED learning, students are taught to manage personal finances and to invest.  This learning, built around the topics of Save, Spend Wisely and Share is incorporated into compulsory subjects across 12 years of learning, beginning from Year 1.

Fiji is seen as a role model for FinED in the region, and was recently recognized with a global award for the Asia & Pacific region during the 2016 Global Inclusion Awards. This Award was given by Child Youth & Finance International (CYFI) to Fiji in recognition of the country’s efforts in promoting financial literacy amongst youth and children.

Since the roll out of FinED Fiji, there has been ongoing teacher training at the district and school level, with a number of exciting implementation experiences impacting on the teaching and learning of 200,000 (48% are female) students every year.  

The Project was handed over to the Fiji Ministry of Education from PFIP in July this year.

 

About PFIP

PFIP is a Pacific-wide programme that has helped 1.5 million low-income Pacific islanders gain access to financial services and financial education. It achieves these results by funding innovation with financial services and delivery channels, supporting policy and regulatory initiatives, and empowering consumers.

PFIP operates from the UNDP Pacific Office in Suva, Fiji and has offices in Papua New Guinea, Samoa and Solomon Islands.  It is jointly administered by the UN Capital Development Fund (UNCDF) and the United Nations Development Programme (UNDP) and receives funding from the Australian Government, the European Union and the New Zealand Government.