Almost 6,000 residents of the Moresby North East electorate received their certificates on Tuesday at the Sir John Guise Indoor Stadium, after completing a Small and Medium Enterprise (SME) financial literacy training program.
The training equipped men, women and youths with basic financial management and bookkeeping skills, including how to make money, manage spending and save money.
The participants were trained by the DMI Sisters of the Catholic Church, alongside other local trainers.
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The training is part of an ongoing initiative by Moresby North East MP and Minister for Environment Conservation and Climate Change, Hon. John Kaupa, which began in 2020 to empower residents to establish and sustain small businesses.
Minister Kaupa said the total investment in the electorate’s SME programme was estimated to reach approximately K10 million.
“The initial investment is about K8 million, and with the additional funding, the total is expected to increase to K10 million,” he said.
He explained that the funding came from various sources, including the District Services Improvement Program (DSIP), Public Investment Program (PIP) and other government agencies, which had contributed towards supporting and promoting small businesses in the city.
Mr. Kaupa said the electorate had a population of approximately half a million people, making the K10 million quarterly DSIP funding insufficient to meet the needs of everyone.
He said the SME programme and financial literacy training were important in helping residents become self-reliant and sustain their livelihoods in the city.
“I am one of those people who understands the challenges of surviving in the city because I was involved in small businesses before becoming a Member of Parliament.
“I know how challenging it is to make a living in the city. That experience motivated me to introduce the SME programme to help people sustain themselves,” he said.
Mr Kaupa said his vision was to help residents become entrepreneurs and successful business operators in the future.
However, he encouraged participants to start with activities they were already engaged in and businesses they were familiar with, adding that his role was to empower them.
He also revealed that 25 per cent of previous SME beneficiaries since 2020 had been successful in their businesses.
Those who were unsuccessful but had reapplied would still be considered, although priority would be given to new applicants. Any remaining funds would then be allocated to applicants from previous rounds who had missed out.
Mr. Kaupa said the K10 million would be distributed among individual beneficiaries to support their respective SME activities.
The assistance would range from a minimum of K500 to a maximum of K5,000 per beneficiary, depending on the type of business.
For example, second-hand clothing sellers would receive about K1,000, while trade store operators, piggery and poultry business operators could receive between K3,000 and K5,000.
He said arrangements had already been made with suppliers to provide beneficiaries with the necessary goods, equipment and materials to establish or expand their businesses.
“For poultry businesses, we have arranged supplies of chicken starter and finisher feed, as well as poultry equipment such as beds.
“For those involved in gardening, we will provide seedlings to help them establish their gardens, and for trade stores, we’ll allocate funds to suppliers so beneficiaries can collect the goods they need to operate their businesses,” he said.
The Minister said most beneficiaries already had bank accounts and their assistance would be deposited directly into their accounts.
Those without bank accounts would receive cash assistance ranging from K500 to K1000, and they were directed to attach copies of their certificates they had received to the Minister’s office to secure their funds.
He stressed that the SME programme was an ongoing initiative aimed at empowering people already involved in small businesses and encouraging them to formalize their business activities.
“We are helping people develop businesses based on activities they are good at and are familiar with, whether in the formal or informal sectors,” Mr. Kaupa said.
Mr. Kaupa also pledged further support for successful SME beneficiaries, including providing business spaces similar to the one established at Six Mile.
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He said the district could also provide guarantees to help genuine and capable business operators access loans from commercial banks.
He urged the beneficiaries to use the assistance responsibly, manage their funds wisely and operate their businesses effectively to sustain their livelihoods in the city.