Teaching women financial literacy can improve household well-being

February 21, 2013

Central Bank of Solomon Islands Governor Denton Rarawa told a stakeholders meeting organized by the Pacific Financial Inclusion Program (PFIP) at the Kitano Mendana hotel today (Thursday 21 February) that if we want to improve the wellbeing of households in Solomon Islands, we need to empower the women of that household to be financially competent.

Mr Rarawa was referring to a conclusion from the financial competence survey of Solomon Islands conducted in 2012. He says the survey noted that “the wellbeing of a rural household can be quantifiably improved if one person in the household attends financial literacy training and has a savings account.
“A significantly higher level of wellbeing is achieved when that person is a woman.”
Mr Rarawa says Solomon Islands vision is to extend access to appropriate and affordable financial services to an additional 70,000 Solomon Islanders by 2015, including at least
30,000 women.
Financial literacy for the adults and incorporating financial education in the school curriculum for students are two of the programs in the Solomon Islands National Financial Inclusion plans.

PFIP organized the stakeholders meeting to assist it formulate its Solomon Islands country program for the next 3 years.