BSP trains 1,800 MSMEs in digital, financial literacy

The Bangko Sentral ng Pilipinas (BSP) has trained nearly 1,900 micro, small, and medium enterprise (MSME) owners and workers in Cavite on essential economic, financial, and digital skills through a two-day learning session under its Economic and Financial Learning Program (EFLP).

Held on July 23 and 24 at Elijah Hotel and Residences and online via Zoom and the BSP PisoLit Facebook page, the event drew 1,874 participants from across sectors, reflecting strong grassroots interest in financial empowerment and digital innovation.

The Dasmariñas session is the second of four EFLP events planned for 2025, aimed at increasing economic resilience and informed decision-making among Filipino MSMEs.

Topics included practical explanations of inflation, interest rates, and managing personal and business finances, as well as how to safely access microfinance and use digital tools like mobile wallets and QR Ph.

BSP Deputy Governor Bernadette Romulo-Puyat stressed that financial literacy should be both accessible and relevant to people’s daily lives.

“At the BSP, we believe that real empowerment starts with education,” Romulo-Puyat said. “Pero ang edukasyon, hindi lang dapat sa classroom. It should be something that relates to and permeates into your real life.”

Day 1 focused on helping entrepreneurs improve economic awareness, secure financing, and leverage digital platforms.

Day 2 shifted attention to employee empowerment, emphasizing how better financial knowledge enables better life choices.

Speakers came from the BSP, FinTech Alliance PH, the Microfinance Council of the Philippines, the Department of Trade and Industry, and Registered Financial Planners Philippines.

The BSP said the initiative aligns with its commitment to advancing inclusive growth, particularly by strengthening financial literacy among underserved communities.

MSMEs, which account for more than 99% of registered businesses in the Philippines and generate over 60% of total employment, face unique financial challenges—including limited access to credit and low digital adoption rates.

Programs like EFLP help bridge these gaps by equipping participants with tools to navigate inflationary pressures, adopt cashless payments, and understand how interest rates affect loan decisions.

The BSP has scaled up EFLP efforts since the COVID-19 pandemic, integrating digital channels to reach more Filipinos in remote areas.

For future schedules and resources, the BSP encourages the public to visit its official PisoLit Facebook page and BSP website.