Training of Trainers on Financial Literacy

 

Majority of smallholder cacao farmers have limited technical skills and knowledge on the marketing and entrepreneurial aspects of cacao farming as agribusiness because of limited education and the lack of opportunities to enhance learning.   An important component of this learning is financial literacy which will enable cacao farmers to plan and manage resources for farm development.    Equipping farmers with financial literacy can lead to good management of their household and agri-business finances.  It is in this context that a Training of Trainers (TOT) on Financial Literacy was organized by CIDAMI under a project grant from Oikocredit.  Experts from business Fair Trade Consulting or bizFTC, Ms. Regina Irene Gaza and Ms. French Vibar, served as the trainer-facilitators.  This training was conducted on May 30, 2018 to June 1, 2018 at the Pinnacle Hotel, Sta. Ana Avenue., Davao City.

This activity gathered 25 representatives from 11 cacao-based cooperatives/ associations from the Davao Region, North Cotabato, and Basilan.  These cacao-based organizations are:

1. Biao Agrarian Reform Beneficiaries Cooperative (BARBCO)
2. Subasta Integrated Farmers MPC (SIFMPC)
3. Farmers Development Cooperative (FARDECO)
4. Macabatug Cooperative Federation (MACOFED)
5. Rehoboth Agri-Cooperative (RACO)
6. Federation of Cacao Producers in SOCCSKSARGEN (FECAPS)
7. Maragusan Growers Multipurpose Cooperative (MAGROW MPC)
8. Malabog Integrated Enterprise Multipurpose Cooperative (MIEDECO)
9. Lamitan Agrarian Reform Beneficiaries Cooperative (LARBECO)
10. Gawad Kalinga Tomas de Villanueva Association
11. Lumiad Farmers Agricultural Marketing Cooperative (LUFAMACO)

Through this TOT, the participants were able to know and comprehend the basic concepts on financial literacy and its importance to cacao farming.  They were also able to practice using recording tools to plan and manage household and farming finances.  The participants were also able to practice using facilitation skills to cascade learning to co-members of their association or cooperatives.

CIDAMi hopes that the participating organizations will replicate the training to capacitate their members on how to successfully manage household and farm finances to improve farm productivity, thereby improving income.