Am back in the country after four nights in Fiji. Didn't think it would be possible to come back from such a beautiful and relaxing location feeling so exhausted, but a sold schedule of bumping around the back of a 4WD in the highlights, river crossings, kava ceremonies and interviews didn't leave much time to indulge in the more sedate pleasures that Fiji is better known for.
The main reason for heading up was to observe the work being done by the ANZ Bank's Rural Banking division. Recognising that financial literacy is one of the stepping stones our of poverty, ANZ has created a service that takes banking facilities into the highlands, helping villagers start savings accounts and gain greater control over their financial circumstances. What was amazing to see was the ability of people living below or close to the poverty line to save money, even if it was only a few dollars a month. Many aspire to take our micro loans for education or investment in new tools and other means of boosting their productivity. The bank will only issue a loan after a villager has demonstrated their capacity to save money regularly over a six months period, and works with them to create a business plan to ensure that they are able to meet their new obligations to servicing that loan.
What was also amazing to witness was the the blossoming of entrepreneurship within a culture which that had previously been living at a subsistence level. In those communities where financial literacy was high and the process of savings and applying for loans well established, people who had previously only grown enough crops to feed themselves and engage in basic trade were now coming forward with ideas for creating bakeries, buying trucks and tractors, and creating micro-enterprises that might improve their revenue-generating ability and improve their lives and the lives of fellow villagers. The spirit of entrepreneurship is infectious, and rapidly spread among people who now realised they had the means to make something very different of their circumstances.
Anyway, the story will be appearing in AFR Boss in a couple of months ... will post a pointer once it comes through.
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