Mrs Chot runs a farm in Battambang, Cambodia. A year ago, Mrs Chot was at risk of having to sell her land, after taking on multiple loans from informal lenders.
Mrs Chot took part in Good Return's financial skills training and over the 8-week course, built her confidence to gain control of her money and understand her rights when it comes to borrowing. She was able to start saving, and also access a responsible loan from Good Return's local partner. She now has a flourishing farm, with vegetables, chickens and the latest addition of frogs. Even better, she is a trusted member of the local savings group and together they put money aside in case of emergencies.
We love sharing stories of learners like Mrs Chot, and she reflects the results we see from our financial skills training. When we speak to learners after the sessions, we find that 89% have improved their confidence and are putting their learnings into action.
Dear Good Return Supporters,
I was so inspired this month to hear directly from our learners in Papua New Guinea about the impact of our financial literacy training. Our colleague Janine has been in the Raluana region, supporting coaches from our local partner KPML to run sessions in financial capability. As Essie says in the video above, she now sees the power of 5 Kina (AUD$2): “When I hold that 5 Kina in my hand, I have to manage that properly - my reactions and my behaviour towards that 5 Kina, it has helped me a lot”.
This tax time we are asking you to help us reach more women like Essie with our financial skills training. We want to build positive relationships with money, so that women can manage their household budgets and grow their businesses with confidence.
Shane Nichols, CEO
Keeping business on track is vital for Ruth
This boss lady on a bike is Ruth from the Philippines. She started her own business installing window glass and frames, riding around town on her bike to approach construction sites to find customers. Ruth installs the windows herself, and is proud of the product she delivers.
Alongside this business, Ruth does the cooking, cleaning and caring for her children and manages a small ‘sari sari’ shop out the front of her home.
After 8 years running the business, Ruth is feeling the pressure from the growing cost of materials, not to mention the increased cost of household items. She is learning to use Good Return’s My Money Tracker app so she can track her expenses and income, and budget more effectively.
A new partnership with the Australian Government in the Philippines, through the Investing in Women project, will help us reach more women like Ruth with money skills and business opportunity.
Hats, bags or scarves?
As an organisation working in many countries in our region, we make sure to shape our financial capability training for each cultural context. Each time we enter a new country or expand into different community groups, we design our courses to ensure that the local dynamics, financial literacy levels and cultural nuances are taken into account, and they are suitable for the specific needs of each community we work with.
The result is some fascinating differences in the skills we are teaching and the content of our courses. Some countries have a stronger focus on the importance of savings - such as in the Solomon Islands, where we are working with the Central Bank to develop more women’s savings groups. Other countries have a focus on helping people access safe finance and avoid the risk of loan sharks. Our illustrations, stories, and examples are unique as well - like our hats, bags and scarf illustrations to represent different kinds of spending habits.
Find out more about the fascinating ways we develop and tweak our financial capability curriculum.
New loan product in Fiji ripe for women in agricultural value chains
To tackle the financial challenges faced by women building business in Fiji, Good Return has partnered with Merchant Finance to provide lending solutions to those who typically struggle to access financial services.
The newly launched EmpowHER AgriLoan is a specialised loan to women-owned businesses in the fruit, vegetable, and marine sectors. This loan is specifically designed to assist in purchasing equipment that will help these businesses expand and thrive. It is open to women who run businesses as suppliers, growers, transporters, processors or retailers - ensuring a boost for women along the value chain. Merchant Finance is administering the loans, and Good Return is providing a guarantee for the loans via its Impact Investment Fund.
The loan will help women like Talei Tora, who runs a ginger beer factory and uses locally produced ginger. “We need to encourage, inspire and mentor women to innovate, because goodness knows that is what they do every day with their families, and the same thinking could be used to starting a business,” says Talei.
Meeting with Ministers Penny Wong and Pat Conroy
In the lead up to the Federal Budget, Good Return CEO Shane Nichols joined other members of the Australian Council for International Development at a meeting with Hon Penny Wong, Minister of Foreign Affairs, and Hon. Pat Conroy, Minister for International Development.
The discussion focused on how Australia can be the development and humanitarian partner of choice in the region, and that we need to work harder to reach the Sustainable Development Goals, which are currently tracking 32 years behind the 2030 deadline. The group also shared with the Ministers the opportunity for more dedicated NGO-led aid delivery, rather than contractor-led programs.
Post-budget, ACFID have commented that the international development spending has flatlined in real terms however they welcome the increased focus on the Pacific.