The Ministry of Youth and Sports organised a Financial Literacy Business Training for the Vatukalo Youth Club in Ovalau, last week.
Around 33 youth participants were part of a three day training facilitated by Commercial Honey Supplies.
The Minister for Youth and Sports, Laisenia Tuitubou, encouraged Vatukalo youth club members to use the knowledge gained to expand their bee keeping project.
“This training was basically organised to empower the youths to have a sound knowledge of finance and business administration,” the Minister said.
“It also allows the Ministry to fulfil one of the Sustainable Development Goals – Goal 8 to achieve decent work and economic growth.”
“Through the training, youths are now well equipped in finance management and have acquired skills in preparing budgets and predicting profits and expenses. It also allows the youths of Vatukalo to make informed and effective decisions based on leadership cooperation when managing their resources.”
Vatukalo Youth Club president, Tevita Dra, said, “The Financial Literacy Training during the three days offered comprehensive finance solutions for youths whether it be for our Bee Keeping Project or as an individual in the proper management of income and expenditure”.
The youth group once had a bee keeping project running which was destroyed by Tropical Cyclone Winston in 2016.
The youth group was even more greatly affected because prior to that natural disaster, the income from selling honey was poorly managed due to lack of knowledge and understanding of financial skills.
But as of now, after attending the three days consecutive training, the youths have gained vast knowledge of financial management in budgeting, planning for the future and also creating a business plan which will help develop a culture of savings and improving financial capabilities.