Fifteen participants at the University of Papua New Guinea have attended Westpac’s Financial Basics for My Business workshop, marking a successful start to Westpac’s financial literacy initiative with the university as part of the global Financial Inclusion Week celebrations.
The comprehensive training module equipped participants with essential skills in balance sheet preparation, income statement analysis and business plan development, which are valuable for both experienced entrepreneurs and those aspiring to start a small business.
“This session has opened my eyes to the financial side of running a business,” said Joylyne Taravaru, a fourth-year psychology student.
“The knowledge I’ve gained is invaluable. I learned that having savings is very important. A lot of us want to save money, but we face problems in doing so, and the session was a reflective one because all the things mentioned are issues we face in our daily lives. The session taught me the importance of saving money," Taravaru added.
Westpac Chief Executive Andrew Cairns emphasised the bank’s commitment to supporting Papua New Guinea’s business community.
“Financial literacy is the foundation of successful business operations. Through our Financial Basics for My Business programme, we are empowering entrepreneurs and small business owners with the tools they need to build sustainable enterprises and contribute to PNG’s economic growth. We’re proud to support the next generation of business leaders," Cairns said.
UPNG’s Coordinator for Peer Training and Development, Beniah Nari, while acknowledging the bank’s commitment to supporting the future workforce, said: “Financial literacy is a vital skill that empowers students to make confident, informed choices about their future."
"These sessions are both timely and practical, providing young people with essential life tools. The strong engagement and enthusiasm we’ve seen reflect the value of the programme, and we fully support its expansion to reach all students in 2026. Westpac PNG’s dedication to youth empowerment is a meaningful investment in the nation’s future," Nari added.
Westpac will commence its Financial Basics for My Business webinar series in October. Details will be shared via the Westpac PNG social media channels.
To date, Westpac has delivered more than ten webinar sessions, equipping over 200 participants from a range of sectors across Papua New Guinea with foundational financial knowledge to support their business growth.
