• Business

    ANZ Vanuatu pilot empowers market vendors to save and grow

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    By Antonia Watson

    Copyright dailypost

    ANZ Vanuatu pilot empowers market vendors to save and grow

    ANZ has celebrated the graduation of 28 participants from its Saver Plus pilot program in Vanuatu, reaffirming the bank’s commitment to financial inclusion, women’s empowerment, and community resilience across the Pacific.

    Saver Plus, the world’s largest and longest-running matched savings and financial education program, was introduced in Vanuatu 10 months ago in partnership with the United Nations Development Programme (UNDP), UN Women, and their Markets for Change initiative.

    The participants, mainly women market vendors from the Port Vila Municipal Market House, completed a 10-month program of goal-setting, financial education, and matched savings. The matched funds were used for approved items related to business or education, including stoves, fridges, water pumps, fencing, and school fees.

    The graduation was attended by Antonia Watson, Chief Executive Officer (CEO) of ANZ New Zealand and the Pacific, who presented certificates alongside Sarah Stubbings, ANZ’s Regional Executive for the Pacific.

    “At ANZ, our purpose is to shape a world where people and communities thrive. Saver Plus is a clear example of that purpose in action,” said Ms Watson.

    “Today we celebrate progress toward financial independence, economic empowerment, and a more inclusive Pacific.”

    Ms Stubbings commended the graduates for their dedication, saying: “Our graduates have shown strong commitment, balancing business, family, and community responsibilities while investing in their financial futures.”

    During the pilot:

    • Participants saved a total of VT715,200, with ANZ matching VT701,200.

    • 90% of participants developed an ongoing saving habit.

    • 82% reported greater confidence in managing finances and planning for the future.

    • 8 out of 10 felt better equipped to manage their businesses and provide for their families.

    Following the success of the pilot, ANZ announced its commitment to continuing the Saver Plus program in Vanuatu next year. Ms Stubbings added: “We believe financial wellbeing is key to strong communities, and that’s why we continue to invest in programs like Saver Plus, MoneyMinded, and MoneyMinded Business Basics — because we know they work.”

    ANZ developed Saver Plus more than 20 years ago in Australia, in partnership with the Brotherhood of St. Laurence.

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