Monthly Archives: April 2023

Rose Miller, manager, Strategic Empowerment Programmes at the JN Foundation is underscoring the value of financial literacy and encouraging Jamaicans to take this matter seriously as this is one way to bolster economic growth and development for the country.

“Financially literate citizens will know the importance of saving and investing. When citizens save and invest, this will promote stability in a country. This in turn will help to generate more investments and translate into economic growth and development,” she said.

Mrs Miller gave the advice against the background of financial literacy month which is being observed in April as well as the country’s relatively low level of financial literacy.

According to the Financial Literacy Around the World Report, published in 2019, which was undertaken by Standard & Poor’s with representatives from the World Bank, Jamaica was ranked 29 out of the 47 scores assigned to 142 countries. In regards to simple financial literacy, only 33% of Jamaicans surveyed indicated that they had knowledge of basic financial principles.

She pointed out that the argument for improving and promoting financial education is compelling and the need to narrow the financial literacy gap was urgent.  She urged Jamaicans to take responsibility for improving their financial education.

“All adults should make it a priority to learn something new about the area of finance every day. Invest time in improving your financial IQ; it will pay big dividends.  And, if you are a parent, as early as possible, help your children to develop  a positive attitude and behaviour towards money, teach  them simple money management skills and provide opportunities for them to practice these  skills,” she stated.

Mrs. Miller said persons should pursue financial education. “Firstly, it enables you to make better and wiser financial decisions. People with a high level of financial literacy feel more confident about their finances.  They have a greater understanding of the risks and benefits associated with different financial options; are able to spot, evaluate and take action on investment opportunities, manage debt wisely and are more likely to achieve their financial goals,” she explained.

The JN Foundation manager of Strategic Empowerment Programmes further notes that being financially literate enables individuals to be more protective of their financial affairs.

“This is because you are equipped with knowledge and you will not be easily duped.  It’s easier to identity or recognise financial scams and fraud, providing a stronger barrier of protection against these, allowing you to safeguard your finances, your financial well-being and your peace of mind,” she said.

Mrs Miller noted that increased financial awareness will also help a person to build wealth over time and therefore secure, a legacy which can be transferred to the next generation.   

“With a deeper understanding of how money works, these persons are likely to make better financial choices with long-term benefits.  This she said, can build financial security and stability for themselves, their families and also set up the next generation for financial success,” she informed.

She gave the following challenge to encourage individuals to improve their level of financial literacy: “Learn something new every day, “Take advantage of the vast amount of knowledge currently available such as, free seminars; information in the media and on the internet. There is simply no excuse to be ignorant.”

In addition, she said persons should commit to share the knowledge gained and act on the knowledge.  She noted that these approaches will put families and ultimately the country on the path of financial security.

The parish of St Elizabeth has long been known for its vulnerability to drought, particularly during times of meteorological drought. In response, the JN Foundation has urged residents in that parish to conserve on water and implement conservation measures.

Omar Wright, JN Foundation’s lead for environment and community development, said, “St. Elizabeth is considered to be the breadbasket parish.So it is imperative that the parish practise water conservation measures,” he said.

Mr Wright made the appeal while interacting with students and residents of the parish at an exhibition mounted at the St Elizabeth Technical High School (STETHS) in observation of World Water Day, recently.

The exhibition was organised by the Ministry of Economic Growth and Job Creation in collaboration with its agencies and stakeholders. The day was observed under the theme, ‘Accelerating Change – Water, Changing Behaviour and Lives’.

The situation in St Elizabeth is an urgent reminder that water is a precious resource that must be conserved and managed sustainably to ensure its availability for generations to come, said Mr Wright.

Floyd Green, Minister without Portfolio in the Office of the Prime Minister and Member of Parliament for St Elizabeth Southwestern, who spoke at the opening ceremony of the event, said the government is undertaking two major projects to improve the supply of water to the parish.

This he said included the Essex Valley Irrigation system that will serve South St Elizabeth and parts of Manchester. He said the second major project will pull water from the Black River for irrigation purposes in St Elizabeth, which will benefit the farmers of the parish.

“I want to say to all my farmers in South St Elizabeth that on this World Water Day, the government is going to work to ensure that you have all the water you need to do your farming,” he stated.

He also informed that the government was not only looking at irrigation but also communities that do not have regular potable water supply. He said work has been done in Junction and new pipelines have been installed in Middle Quarters, Sandy Ground to Black River.

He said this year the government has earmarked 21 projects valued at $2.5 billion to bring water supply across Jamaica. Four of these projects he said have been earmarked for St. Elizabeth.

Meanwhile, hundreds of students and teachers at STETHS expressed interest and appreciation to the information presented by the various stakeholders who participated in the exposition.

Keisha Francis Forbes, a teacher at STETHS, was particularly fascinated by the JN Foundation’s display, which demonstrated how persons can configure their homes with a guttering system to harvest rainwater.

“It is good to see water being harvested [as depicted by the display]. Growing up as a little girl, that is how we used to harvest water but I realised as I got older and move to a new community, not much of this harvesting is being done anymore,” she observed.

Mrs Francis Forbes stated that given the effects of climate change, where the country is experiencing longer droughts, persons should be motivated to revert to harvesting water. “What I like about the display is how the guttering system is set up. I have an interest in that,” she added.

Grade eight student, Nicola Moodle, now has a greater appreciation for water conservation. The teen said she is often frustrated by constant water lock offs.

“Water is life and it is important that we conserve it,” she said.

With a changing work environment, impacted by advancements in technology and a pandemic that has influenced work patterns and job losses, some persons in the workforce have been forced to adapt by upgrading or learning new skills.

The World Economic Forum’s Future of Jobs Report 2020 states that because of the growing uptake of technology and automation, half of all employees will need reskilling by 2025.

That’s why Tremain Ellis, Acting Learning and Development Manager for the JN Group,   says learning a new skill or upskilling is beneficial to both employers and employees.

“It has become essential to continually upgrade one’s skills to stay relevant, competitive, and employable,” he pointed out.

He underscored that learning a new skill is essential to advancing one’s career, as individuals with up-to-date skills are highly sought after by employers, giving them a competitive edge in the job market.

However, upskilling or reskilling is not just about finding a new job. When employees have access to training and development opportunities, they bring new ideas and perspectives to the organisation, leading to more innovative and efficient practices.

“Just as how we invest in new technology, we should invest in our people. It makes no sense we have the latest technology and our people cannot make the best use of them,” he said.

Mr. Ellis recommends that both companies and individuals conduct a skills audit to identify any gaps.

“The first step is to ask yourself what skills do I need to remain relevant or to be better at what I do? Do I currently have those skills? If not, how do I acquire those skills?,“ he suggests.

The Learning and Development Manager for the JN Group noted that whether persons are self-employed or work for someone, it is important that they are continuously looking for ways to improve. He added that the world has become smaller due to globalisation so the competition is no longer just the person sitting beside you but also someone who is half way across the world.

He informed that after that after it is determined what skills are needed, it is time to do something about it. Acquiring new skills is much easier, more cost effective and convenient in the age of technology, he said.

“Gone are the days when upskilling means you have to register for a programme at a training institution and sit in classes from 8:00AM to 4:00PM Monday to Friday. Many training institutions offer self-paced learning, where you decide how long you take to complete and even set your own schedule. Additionally, there are hundreds of free online certificate courses from some of the top universities in the world,” he disclosed noting that other websites such as Udemy, Coursera, Khan Academy offer online self-paced courses for free or at very low cost. 

“Majority of us have smart phones, so I want to put it out there that we dedicate five hours per week to learning a new skill. Many of us spend more than that time just sitting in traffic, so we can download an audio book to listen whilst driving,” he said.

Mr Ellis stated that YouTube is also an amazing place to learn and that persons could spend one less hour each day watching funny videos and dedicated that time to do their own upskilling.

“Learning is now at our finger tips. We must see upskilling as an investment in ourselves, our companies and the future of our country,” he said.