Two hundred market vendors in Iloilo City have completed the financial literacy training provided by the BDO Foundation in collaboration with the Iloilo City local government unit (LGU).

The initiative aims to empower local firms with the essential knowledge and skills to manage their finances effectively and sustainably.

The financial literacy program originated from the Iloilo City LGU’s request for the BDO Foundation to develop a tailored financial education training program for market vendors.

This collaboration also involved the Uswag Negosyo Academy (UNA), the LGU’s training arm under the Local Economic Development and Investment Promotion (LEDIP) Office, which focuses on the growth of local MSMEs.

The program consisted of the first module covering the basics of financial literacy, including budgeting, saving, financial planning, and debt management.

The second utilized a modified Fish N Learn approach, covering advanced topics such as investing in business, micro insurance and fraud prevention.

Fish N’ Learn is a financial education game originally designed for fisherfolk, but the regional fisheries office was able to modify it to apply to market vendors.

Dedication, commitment shown

“There were 200 market vendors who displayed dedication and commitment to enhancing their financial knowledge. This program reflects our dedication to empowering local communities and advancing financial inclusion throughout the Philippines,” BDO Foundation president Mario Deriquito stated.

Additionally, the foundation provided training to LGU trainers to ensure the continuity of the program for more market vendors within the city.