SOUTH PACIFIC BUSINESS DEVELOPMENT
The rollout of the Financial Education Programme (FEP) has been a main emphasis of the activities of the SPBD Network in 2013 and 2014. The Financial Education Program (FEP) has been launched in a staggered format since the second half of 2013. The focus is on active loan clients who now maintain regular financial diary booklets. These booklets have replaced the Savings Passbook and allow the clients to record their daily business revenue, expenses and profits, as well as household expenses and savings. They are checked by SPBD Centre Managers on a weekly basis. The Booklets also provide useful reference information on accumulating savings, key points of SPBD policy and direction for centre management.
The daily engagement with these financial booklets has helped our clients to identify many issues they have been encountering in operating their small businesses. These problems include unnecessary expenses, understanding the profitability of their business, and exploring ways of reducing unnecessary costs that could help in increasing their profits. Providing a simple format for tracking all financial information has been well received by members.
Recruitment and Training of Financial Education Facilitators (FEFs) – To support the FEP, SPBD has started in 2014 to recruit and train a third Centre Officer – the Financial Education Facilitator (FEF). Every active center will have their own FEF who is a full-time resource person available to members anytime during the week to help encourage them to keep their financial records and maintain them correctly. These facilitators will play a critical role in the success of the FEP. An accreditation program is being developed to further professionalize the FEF programme.
Social Performance Management
Good Return (Australia) is helping SPBD Fiji to develop the Progress Out of Poverty Index (PPI) scorecard for Fiji which will be used to track 100% of clients on their poverty status. We expect the PPI to be completed in 2014. Additionally, Good Return is providing technical support to SPBD Fiji in conducting the Client Protection Assessment (CPA).