Households receiving compensation for the loss of their gardens, their perennial crops and other assets may receive substantial sums as money. Many households in communities on the Afungi Peninsula and in Palma-Sede will also receive regular incomes through employment and through the establishment of new businesses that capture some of the increased levels of disposable income flowing into households and communities – in part attributed to the development of the project.
In recognition that households have increased levels of income, the Resettlement Plan has contracted an implementation partner to design and deliver a financial management training course. The course aims to teach families impacted by the project basic knowledge of money management so that they are enabled to enjoy the benefits that money can bring to the quality of life, well-being and family prosperity, when well managed. The course utilises a very practical and dynamic approach, considering the high levels of illiteracy in the region, and takes place in customised classrooms in the communities, built for the purpose of the training program from locally sourced materials.
The foundation of the program is basic arithmetic training, which is necessary to do a basic calculation – addition, subtraction and multiplication – linked to the daily use of money. With the basic knowledge acquired, participants then learn to make a family budget: carefully and rationally planning to spend their money in such a way that it helps improving their quality of life while saving a part for emergency expenses, and putting aside a portion to achieve their personal dreams. Community members who participate in the course also learn to better understand how loans, debts, investments and benefits work within the formal financial system. After the training, participants organize themselves in village saving and loans groups and start applying many of the concepts learnt in the program, for 6 months, under the supervision of the Tecnicol facilitators.
The course provides participants with an opportunity to adopt positive behaviours in relation to money, expands their vision in terms of the possibilities that money can provide, and teaches the principles of deliberate decision-making that allows for efficient financial management.
Up to this point, 361 people have already concluded the financial management training, of which 154 participants created 12 savings groups across the various communities in which the program has been rolled out. 1250 people are expected to be trained in the program and at least 30 saving groups will be created.
The positive feedback of participants attests to its success of the training:
