A two week workshop concluded successfully with the development of the first ever Financial Education, Teachers Resources Books and Student’s Activity Books for preparatory to Grade six.

The history making progress will integrate financial education into Papua New Guinea’s standard-based curriculum, with 48 selected pilot schools across the country’s four regions set to test the materials commencing in 2025.

The significant occasion saw the presentation of the 21 books developed, 7 financial education syllabus, 7 teachers resources books and 7 student activity books, written by officers from the Curriculum Development Division (CDD) of the Department of Education (DoE), primary school teachers and CEFI’s Financial Inclusion and Capacity Development Unit.

In recognition of their outstanding efforts, the 25 workshop content writers were awarded certificates for their exceptional work in completing the syllabus, teacher resource books, and student activity books on Friday, November 1, 2024, at the Tuhava Resort in Central Province.

Present to witness the important event were Mr. Alex Magun, First Assistant Secretary, Graphics and Design – DoE; Mr. Sanjay Pepae, Acting First Assistant Secretary, Department of National Planning and Monitoring; CEFI Executive Director Mr. Saliya Ranasinghe and Deputy Executive Director Mr. Peter Samuel, along with staff from both the DoE and CEFI.

Mr. Alex Magun, in his opening remarks emphasized the importance of implementing financial education curriculum in schools to instill in the students the knowledge to become proficient in utilizing money.

“It is a perfect time to integrate financial education into our curriculum, ensuring that our young generation becomes fully knowledgeable about managing and spending money. In simple terms, financial education means understanding how to handle money wisely, he added, “We are adopting a new approach and working to make financial education compulsory for all students.”

According to Mr. Magun, the 21 books developed will go through a curriculum validating process board of studies beforehand approved for printing and distribution to 48 schools in the country.

In reaffirming the Mr. Magun’s comments CEFI Executive Director Mr. Saliya Ranasinghe stated that 48 schools in the four regions of PNG have been selected as pilot schools for the financial education school project to be tested.

Mr. Ranasinghe explained, “The pilot phase will last for two years, during which we will observe how the children respond. We’ll review the material and determine if any improvements are necessary.” “A very important endeavor as this is the foundation to empower the students to make informed decisions in all their economial activities in the future,” he added.

Mr. Sanjay Pepae, Acting First Assistant Secretary, Department of National Planning and Monitoring commended the tremendous effort and hard work put in by DoE, CDD Officers and teachers led by Ms. Celine Vavetaovi, Assistant Secretary Business and Technology Branch, CDD – DoE and Ms. Jill Pijui, Manager, Financial Inclusion and Capacity Development Unit- CEFI.

“This workshop is very strategic and pragmatic, the production of 21 FE materials in two weeks, is a testament of its own,” stated Mr. Pepae. He further congratulated CEFI and DoE for the milestone achieve.

Mr. Pepae emphasises, “The strategic collaboration between CEFI and the Department of Education to implement this financial education project within the curriculum from prep to grade six and from grade seven to grade 12 is an impressive initiative.”

Commenting on the impact for future generations CEFI Deputy Executive Director Mr. Peter Samuel, stated that financially literate individuals are more likely to save, invest wisely, and make decisions that benefit not only themselves but also those around them.

“By equipping students with the skills and knowledge, we are not only preparing them for personal success but also contributing to the overall economic health of our communities and our nation,” Mr Samuel said.

Ends.

Back Ground Information

A Two-week Financial Education Content Alignment and Development Workshop was held at Tuhava Resort in Central Province, from October 21st to November 1st, 2024.

The workshop focused on creating Teacher Resource Books and Student Activity Books for students in Preparatory to Grade 6.

The workshop was funded by the Centre for Excellence in Financial Inclusion (CEFI) and facilitated in collaboration with the Department of Education (DOE)- Curriculum Development Division (CDD).

A total of 25 participants from diverse educational backgrounds, including primary school teachers, DOE-CDD curriculum officers, and CEFI staff, attended the workshop. Their combined expertise will help ensure the developed materials are both comprehensive and applicable in real classroom settings.

This workshop is a crucial step in integrating financial education into the national curriculum. Participants will engage in content writing and discussions to create high-quality educational resources that cover important financial topics like savings, budgeting, banking services, debt management, investments, and insurance. These resources aim to promote informed decision-making and improve students’ financial awareness from an early age.

The workshop also aims to align financial education content with the existing syllabus for various grades:

• Prep to Grade 2: Culture and Community
• Grades 3-5: Social Science
• Grades 6-8: Making a Living
• Grades 9-12: Business Studies

A follow-up workshop will be held before the year ends to develop resources for Grades 7-12, focusing on advanced topics like investment, superannuation, and retirement.

The expected outcome of the workshop is the creation of 14 essential educational resources, 7 Teacher Resource Books and 7 Student Activity Books, to support financial education for Prep to Grade 6. This aligns with the national government’s priorities:

• Vision 2050: Emphasizes financial literacy and wealth creation.
• PNG Strategic Development Plan 2030: Focuses on inclusive education and financial literacy.
• National Education Plan (NEP): Highlights the need for a curriculum that meets local needs and imparts technical skills.
• Financial Sector Development Strategy: Stresses the need for a financially literate society.
• National Financial Inclusion Policy: Calls for financial inclusion to be integrated into the national curriculum.

Ends.

Image Captions:

Image 1.   Group Photo of workshop participants together with CEFI Management, Assistant Secretaries from the Department of Education and Department of National Planning.

Image 2. Photo showing Mr. Sanjay Pepae,  Acting First Assistant Secretary Department of National Planning presenting   a workshop participant his certificate.

Image 3. Photo showing CEFI Deputy Executive Director Peter Samuel presenting a female participant her certificate during the workshop closing at Tuhava Resort, Central Province on Friday 01st November 2024. Looking on his Mr. Alex Magun, First Assistant Secretary Department of Education

Image 4: Staff from the Curriculum Development Division, who also participated in the two week workshop.

Image 5: Student Activity Books written by the workshop participants on display during the closing of the workshop.

For further information on the work of CEFI please contact CEFI Communications Team: +675 3225300, email: lomaro@thecefi.org  or visit www.thecefi.org