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Popular comedian Ian ‘Ity’ Ellis is reminding young people about the importance of saving.

Drawing on part of a quotation from Earl Jarrett, Chief Executive Officer of The Jamaica National Group, Mr Ellis pointed out that “savings are not only the fuel for investments”, but that the money, which is put aside when times are good, is often what individuals and their families turn to in challenging financial times.

He was addressing the, ‘Ask Me Anything About Money’ Youth Forum, organised by the JN Foundation through its BeWi$e Financial Empowerment Programme.

The live chat was held at the Terra Nova All Suite Hotel in Kingston on Wednesday, November 25 and streamed LIVE via Facebook, Instagram and YouTube.

“This season has really taught me the value of having some money set aside. I tell my daughter that the one thing I would change if I had the power to go back in time, is that I would save more,” said the accountant and entrepreneur.

“I am blessed to be in a position where if it were not for savings, my children would discover what it is to be hungry. Therefore, I would really like to emphasise to young people that they need to develop the habit of saving, especially when they come into some earnings.”

Mr Ellis, who was a special guest at the event, stated that the global pandemic has highlighted the importance of savings in the lives of many Jamaicans. He noted that many persons are now struggling to make ends meet, due to the severe socio-economic effects of COVID-19.

“I know it is said many times on platforms such as these. However, the truth is that the message is very relevant, especially now, as so many persons are struggling, because they didn’t save at all,” he said.

Onyka Barrett Scott, general manager of the JN Foundation, agreed with Mr Ellis, advising that the rule of thumb when it comes to saving is to, “pay yourself first.”

“When you receive your pay cheque each month, no matter how small it is, try to set aside at least ten per cent of your earnings,” she recommended. “Put that ten per cent in an emergency fund and don’t touch it at all, because there is going to come a day when you will really need it.”

Mrs Barrett Scott noted that this rule applies regardless of the individual’s income.

“Many young people will say that they don’t make that much; therefore, how are they going to save ten per cent each month? But, regardless of the amount you make in salary, you can still put aside something. Start with whatever you can and gradually move towards the ten per cent over time,” she emphasised.

The “Ask Me Anything About Money” forum was geared towards young people between the ages of 16 and 30-years-old, who were interested in financial education. It addressed issues such as saving, budgeting, investments, insurance, credit cards and pivoting during the COVID-19 crisis.

Rose Miller, head of the JN BeWi$e Financial Empowerment Programme, says contrary to the common belief, a credit card is not a “debt sentence,” if used prudently.

Mrs Miller, who is also Grants Manager at the JN Foundation, stated that a credit card can be an important tool in the quest towards financial security, if managed carefully.

She added that one of the values of a credit card is that, it gives people access to money they would not otherwise have.

“When you have a credit card you have access to the money that is on the card. Therefore, if you’re on the road and you’re in an accident or you need to rush to the hospital, you have that card and you can use it. And if you pay your credit card bill on time and in full, each month, you pay absolutely no interest on that money,” she pointed out.

Mrs Miller informed that persons can also use their cards to spread out payment for major purchases and establish healthy credit. Some credit cards even come with rewards, such as discounts or cash back on purchases, or airline miles.

She noted that during the Christmas season persons may be tempted to spend more than they normally would; and in many cases, the ease and convenience of the credit card may encourage overspending.

“I encourage prudent spending and careful budgeting at all times, but especially around this time of the year, because credit card debt can be overwhelming; and may prevent persons from saving for future financial goals,” she explained.

Mrs Miller pointed out that there are measures persons can take to prevent credit card debt. Whether they are opening their first credit card account, or starting fresh after paying off a large balance, here are some tips to use credit more wisely and avoid debt:

Spend Within Your Means

The best way to avoid credit card debt is to pay your balance in full each month. But how can you ensure that is an attainable goal? The answer lies in your spending habits. It is important to understand that your credit card can be a tool to build credit; and pay for larger purchases in small increments. Hence it should not be a way to buy things you cannot afford. This can be a hard lesson to learn, as it is easy for credit cards to feel like “free money.” But remembering to only put purchases on your card which you will be able to pay off, is the simplest way to prevent credit card debt.

Make Monthly Payments on Time

Another way to prevent credit card debt is to make payments on time, every time. Many banks let you set up automatic payments, so money from your chequing account can go directly to your card before it’s due every month. You can also set up personal reminders on your calendar if this isn’t an option. Late payments often result in late fees, which can quickly add to your existing balance and make it harder to keep up with payments. You may also consider making multiple payments a month if it works with your budget.

Keep A Low Utilisation Ratio

Ideally, you want to pay your balance in full each month, but if that is not possible, at least try to keep a low utilisation ratio. Your utilisation ratio is the per cent of credit currently in use. Let’s say you have a credit line of $100,000. If you have $50,000 in purchases on your card at a given time, you have a 50 per cent utilisation ratio. Using a high percentage of your available credit can make it harder and harder to pay off debt. As you accumulate a higher balance, you’ll end up paying more in interest. As a rule, keep your utilisation ratio below 30 per cent of your available credit to stay on track and prevent accumulating too much debt.  The credit utilisation ratio is the second most important credit score factor after payment history.

Understand Your Credit Card Terms

Knowing the specifics of your credit card agreement can help you to avoid unexpected fees and keep track of your payments. Different credit cards will have different interest rates and potential fees. Before you use your card, read through the agreement to understand when you will be charged a fee, how interest will be applied to your account, what is the current interest rate and when that interest rate will increase. For example, some cards offer zero per cent interest for a specific amount of time; however, when that time frame is up, you will be charged interest on your purchases. Don’t let these factors surprise you. A good way to ensure you stay in the know is to continually improve your financial education.

It is Not Too Late to Save For a Debt-Free Christmas!

As the country grapples with the onslaught of a global pandemic and its economic effects, the idea of merriment and festivity this Christmas season may be a distant thought from the minds of some Jamaicans.

However, despite how tumultuous 2020 has been and the lingering uncertainty which lies ahead, Rose Miller, grants manager at the JN Foundation, said that the holiday tradition is still on this year’s calendar, “whether we like it or not.”

“And the season still comes with its numerous financial responsibilities. Therefore, you still need to have a viable financial plan, to ensure that you keep your holiday expenses under control; and so that you do not start 2021 in debt,” she advised.

Mrs Miller, who is also head of the JN BeWi$e Financial Empowerment Programme, pointed out that it will be a difficult Christmas for many, particularly those who have lost their relatives, jobs or businesses, due to the COVID-19 pandemic. She noted that the recent heavy rains that have lashed the island, causing severe flooding in some communities, have further dampened the spirit of many Jamaicans, and has also placed them under increased financial stress.

“This means that careful and meticulous budgeting for the season is extremely important,” Mrs Miller informed.

The JN Foundation’s financial literacy expert, suggested that the first, and probably the most important step, is to set a Christmas budget. “If you have not already started saving for Christmas, you do not have a lot of time, but it is not too late. You still have about six weeks to go, and it is never late to get serious about budgeting your money,” Mrs Miller pointed out.

Set a Budget

She advised persons to sit down with pen and paper or use one of the many budgeting apps that are available on the Internet to help create their own budget and see how much they can set aside in time for Christmas Day.

“To begin your budget, make a list of family and friends you will be buying presents for and allocate an amount for each person. If you are hosting dinner, then consider how many people will be coming over and how much you will need to spend on food and drink,” Mrs Miller said.

She said persons should remember that there is a limit on the number of people who can gather in one place this Christmas season, due to COVID-19 restrictions. “This may very well be a plus for your pocket, as you won’t need to spend as much as you normally would,” Mrs Miller noted.

Work Out How Much to Save Weekly

“From there, you should be able to work out how much money you would need to put away from now until Christmas. For example, if you are planning to spend $40,000 on dinner and presents, you would need to save at least $8,000 a week for the next five weeks,” she said.

The JN manager advised that people should treat saving in the same way as they would a bill.

“Committing to saving a regular sum each month or week is more effective and would be more successful than simply saying you’ll save whatever you have left over after spending, which may be nothing,” she pointed out.

Try to be realistic, bearing in mind all that has taken place in 2020 and the continued uncertainty of the immediate future. It is better to commit to a manageable sum than to aim too high and give up, Mrs Miller pointed out.

Be Creative with Your Gift Ideas

To further cut down on how much you spend, you need to be creative with your gift ideas, Mrs Miller recommended. “Gifting does not have to be a spending spree,” she said.

She suggested that instead of rushing to purchase gifts, people should consider creating their own gifts using their skills. Purchasing or creating gifts that can be shared by more than one member of the household, instead of providing individual gifts, is another idea to consider.

“It saves time and money, as you don’t need to shop for every single person. And, very often, the gifts you create are not only less expensive, but they are more meaningful than the items you buy in a store,” she said.

Start Your Shopping Now!

Mrs Miller said start early. “Picking up Christmas essentials, such as gifts and decorations, when they are on sale can earn big savings.”

Take advantage of online deals and events, such as Cyber Monday and Black Friday.

“If you know what gifts you need to purchase, it can help you to pick up some items over a period, to help spread the cost; and save you the hassle of shopping in peak periods,” she advised.

Mrs Miller pointed out that there are also many ‘free websites,’ which allows persons to create their own cards, with family photos and videos. “There are many ways to save a dollar or two, you simply to be creative; and, most of all, be determined not to overspend for the holidays,” she advised.

With such few opportunities to indulge in social activities during 2020, due to the restrictions and challenges posed by the COVID-19 pandemic, there’s a temptation among some Jamaicans this year to ‘live a little’ this Christmas and treat themselves and their loved ones.

However, Garfield Goulbourne, relationship manager at JN Bank, is advising persons to balance that need for interaction and treats with thrift, and avoid blowing their December salary on Christmas gifts and other holiday expenses, considering the continued economic uncertainties.

Mr Goulbourne is instead encouraging Jamaicans to save or invest their pay cheque, bonuses and any additional income they might receive this festive season, in order to better prepare for the New Year.

“With all that is happening across the globe, because of COVID-19, including job losses and pay cuts, this year is certainly not the time to make carefree spending choices, such as using an entire pay cheque on fun and festivities,” he said.

“I understand that it has been a rough year and many of us want to enjoy ourselves and unwind a little, but I must warn against going overboard. The sacrifices you make and the restraint you exercise will be worth it in the long run, and will set you up well for 2021, and years to come,” Mr Goulbourne added.

He further noted that many people will be getting paid early this month, as they prepare for the holidays, and as such, they should remember that the funds will have to stretch for much longer than usual.

Mr Goulbourne, who is an ambassador for the JN BeWi$e financial empowerment programme, managed by the JN Foundation, warned that January expenses need to be considered before money is spent over the holiday period.

He said early December payments should not be spent before creating a budget.

“Budgeting starts with knowing how much you have to spend without using credit cards and heading into the red. It’s as simple as that. Forward planning is one of the ways that you can reduce the financial burden of Christmas. Once you have your budget, stick to it and you shouldn’t have any debt going into the new year,” he said.

Mr Goulbourne advised that a few questions people should bear in mind before spending their December salary include:

• Have you set aside money for January expenses, including school fees?
• Is your car registration and insurance up to date?
• Am I up to date with my billers and creditors?
• Have I thought seriously about health insurance and other medical expenses in case I fall ill?
• Do I have enough funds in my account in case there is a major emergency?

He noted that these considerations must be prioritised over holiday shopping.

Mr Goulbourne also had some advice for the fortunate few who will receive Christmas bonuses from their employers, this year.

“This year is the year to make your Christmas bonus count. Save it or invest it if you can, but if you must spend it, do so wisely,” he said.

“A few of the ways you can make the most of your Christmas bonus is to use it to pay off debt, boost your emergency fund, or add it to your retirement savings,” Mr Goulbourne said.  

Rose Miller, grants manager at the JN Foundation, is renewing the call for more Jamaicans to get serious about building an emergency fund.

Speaking against the background of World Savings Day, observed globally on October 31, she stated that the COVID-19 pandemic is a vivid example of why an emergency fund is such an important financial asset.

Mrs Miller, who also heads the JN BeWi$e financial empowerment programme, said in a crisis, such as the coronavirus pandemic and its ensuing economic fallout, an emergency fund is the first line of defense against debt and financial ruin for individual families and businesses.

“If more Jamaicans were putting aside money in ‘a rainy-day fund,’ more of us would be able to withstand the economic effects of this crisis,” she said.

Economic analyst, accountant and author, Dennis Chung, agreed with Mrs Miller, adding that savings could help to save the economy from the full force of COVID-19, as most Jamaicans would be able to maintain their standard of living for much longer.

“If more people were saving, for example, 20 per cent of their salary, each year, and they were working for about ten years, then they would basically end up with 200 per cent of their salary,” he said.

Mr Chung said this means that, even if they found themselves out of a job because of the global pandemic, they would not have to worry about the mortgage or the car payment, for at least a year or more.

“Therefore, you could cut back on your spending and focus on the essentials of life, without significantly affecting your standard of living, your credit rating or your children’s schooling,” he informed.

The economic analyst further noted that, this level of saving would also have a positive impact on the country’s economy.

“Because it means that the government probably wouldn’t need to be sending out so many care packages; people would not have late loan payments, which again has a domino effect on the banks,” he pointed out.

He noted that the same concept is applicable to local businesses, because if a business has enough savings or reserves in place then it means that it has time to adjust to certain shocks.

“People must save to ensure that they will have enough funds to adjust more easily to whatever reality faces them. Adjustments actually do cost money; therefore, if you have a company and you don’t have that extra money put aside, then you don’t have the chance to adjust,” he pointed out.

Mrs Miller added that for those people who are still in a job, there is still time to build an emergency fund, even in the middle of this crisis.

“In uncertain times like these, many of us want to feel safe. Of course, the first priority is to stay healthy. The second is to make sure you and your family can survive financially. If you do not have a solid six-month emergency fund, you should now focus on saving as much as you can. The truth is no one knows when the next emergency will strike,” she said.

Mrs Miller also advised persons to avoid buying any luxuries for the time being; postpone making large purchases; and focus on building up their cash reserves.

“Save what you can…any windfall you receive, whether it is an incentive payment, or a government-issued stimulus cheque. You can even save the money you’re suddenly not spending on transportation, eating out, and other non-quarantine approved activities.”

“World Savings Day,” was started by the World Savings Banks Institute in 1924. Its objective is to emphasise the relevance of saving, with a particular focus on developing countries where a large percentage of citizens do not use the banks.

It is Not Too Late to Save For a Debt-Free Christmas!

As the country grapples with the onslaught of a global pandemic and its economic effects, the idea of merriment and festivity this Christmas season may be a distant thought from the minds of some Jamaicans.

However, despite how tumultuous 2020 has been and the lingering uncertainty which lies ahead, Rose Miller, grants manager at the JN Foundation, said that the holiday tradition is still on this year’s calendar, “whether we like it or not.”

“And the season still comes with its numerous financial responsibilities. Therefore, you still need to have a viable financial plan, to ensure that you keep your holiday expenses under control; and so that you do not start 2021 in debt,” she advised.

Mrs Miller, who is also head of the JN BeWi$e Financial Empowerment Programme, pointed out that it will be a difficult Christmas for many, particularly those who have lost their relatives, jobs or businesses, due to the COVID-19 pandemic. She noted that the recent heavy rains that have lashed the island, causing severe flooding in some communities, have further dampened the spirit of many Jamaicans, and has also placed them under increased financial stress.

“This means that careful and meticulous budgeting for the season is extremely important,” Mrs Miller informed.

The JN Foundation’s financial literacy expert, suggested that the first, and probably the most important step, is to set a Christmas budget. “If you have not already started saving for Christmas, you do not have a lot of time, but it is not too late. You still have about six weeks to go, and it is never late to get serious about budgeting your money,” Mrs Miller pointed out.

Set a Budget

She advised persons to sit down with pen and paper or use one of the many budgeting apps that are available on the Internet to help create their own budget and see how much they can set aside in time for Christmas Day.

“To begin your budget, make a list of family and friends you will be buying presents for and allocate an amount for each person. If you are hosting dinner, then consider how many people will be coming over and how much you will need to spend on food and drink,” Mrs Miller said.

She said persons should remember that there is a limit on the number of people who can gather in one place this Christmas season, due to COVID-19 restrictions. “This may very well be a plus for your pocket, as you won’t need to spend as much as you normally would,” Mrs Miller noted.

Work Out How Much to Save Weekly

“From there, you should be able to work out how much money you would need to put away from now until Christmas. For example, if you are planning to spend $40,000 on dinner and presents, you would need to save at least $8,000 a week for the next five weeks,” she said.

The JN manager advised that people should treat saving in the same way as they would a bill.

“Committing to saving a regular sum each month or week is more effective and would be more successful than simply saying you’ll save whatever you have left over after spending, which may be nothing,” she pointed out.

Try to be realistic, bearing in mind all that has taken place in 2020 and the continued uncertainty of the immediate future. It is better to commit to a manageable sum than to aim too high and give up, Mrs Miller pointed out.

Be Creative with Your Gift Ideas

To further cut down on how much you spend, you need to be creative with your gift ideas, Mrs Miller recommended. “Gifting does not have to be a spending spree,” she said.

She suggested that instead of rushing to purchase gifts, people should consider creating their own gifts using their skills. Purchasing or creating gifts that can be shared by more than one member of the household, instead of providing individual gifts, is another idea to consider.

“It saves time and money, as you don’t need to shop for every single person. And, very often, the gifts you create are not only less expensive, but they are more meaningful than the items you buy in a store,” she said.

Start Your Shopping Now!

Mrs Miller said start early. “Picking up Christmas essentials, such as gifts and decorations, when they are on sale can earn big savings.”

Take advantage of online deals and events, such as Cyber Monday and Black Friday.

“If you know what gifts you need to purchase, it can help you to pick up some items over a period, to help spread the cost; and save you the hassle of shopping in peak periods,” she advised.

Mrs Miller pointed out that there are also many ‘free websites,’ which allows persons to create their own cards, with family photos and videos. “There are many ways to save a dollar or two, you simply to be creative; and, most of all, be determined not to overspend for the holidays,” she advised.

Three charity organisations located in Cornwall, Middlesex and Surrey have benefitted from welfare items donated by staff members of The Jamaica National Group.

The three charities are the St Elizabeth Early Childhood and Therapeutic Centre in St Elizabeth; Children First Agency in St Catherine and the Marie Atkins Night Shelter in Kingston.

The charities received tins of basic food items and toiletries. Onyka Barrett Scott, general manager of the JN Foundation, said the initiative was implemented under Project 3000, with the goal to raise 3,000 cans of food to be donated to the charities.

“The members of staff were enthusiastic about participating in the project, as they knew that it would greatly assist the charities given that the pandemic has had a negative impact on the normal operations of organisations, such as these charities,” she related.

Madge Sanderson, centre manager of the St Elizabeth Early Childhood and Therapeutic Centre, stated, “in this time of need, the contributions were a big help and the parents of the children were very grateful for the donation,” she said.

The centre, which caters to children with disabilities, has been experiencing challenges, given that ‘face-to-face interventions,’ have been suspended.

Mrs. Sanderson noted that some students were being catered to online, with the assistance of their parents.

Claudette Richardson-Pious, executive director of Children First, said the donation came at an opportune time, as the organisation was able to assist children and families who are adversely impacted by the COVID-19 pandemic.

“The donation has enhanced the nutrition of the families assisted; and we were also able to support some seniors, who were also in need,” she informed.

Mrs Richardson-Pious noted, “what was heartwarming was when one of the seniors shared with her that she received enough items, therefore she would be able to share them with her neighbour.”

Children First is a non-profit organisation, which is dedicated to improving the lives of Jamaica’s street children.

Tanya Wildish of the JN Foundation, who coordinated the initiative, stated that although some members of staff were working from home, they made a concerted effort to come into office to drop off their donations.

“That indeed showed the commitment of our members of staff to the drive to assist those who are in need,” she pointed out.

Staff members across the JN Group participated in the initiative and selected the charities to be assisted by registering their votes, based on an online survey, which was circulated shortly after the donations tins were issued.

Mrs Barrett Scott stated that the initiative will also be rolled out in Canada, the United Kingdom, the United States of America and The Cayman Islands, where The Jamaica National Group operates.

Chevaughn Brown, national coordinator of the Caribbean Youth Environment Network- Jamaica

The faces in environmental activism have become younger in recent times; with 17-year-old Greta Thunberg, a teenage activist from Sweden, who has become the face of the youth climate change movement.

A similar trend is taking place here in Jamaica with young persons, such as Chevaughn Brown, national coordinator of the Caribbean Youth Environment Network- Jamaica. The 26-year-old stated that he was influenced into the space, based on what was happening in his community in Old Harbour, St. Catherine, where he grew up in the protected area of the Portland Bight.

“I visited the Caribbean Coastal Area Management (CCAM) which manages the Portland Bight Protected Area a few times, as a student; and I saw first-hand some of the damage to the mangroves caused by the activities of man. Therefore, what I want to do is to initiate a transgenerational change as to how individual persons interact with the environment,” he declared.

Brown currently trains young people passing on information about how to protect and be stewards of the environment.

A student at the College of Agriculture, Science and Education (CASE), where he is pursuing a Bachelor of Arts Degree in Environmental Science, Brown said that the environment provides a platform from which young people can raise their voices.

“As young persons, we should get out there and let others know that we are serious about sustainable development and preserving the environment,” he said.

Jhannel Tomlinson is on a similar path as Brown.  As the Prime Minister Youth Awardee for Environmental Protection, she has committed to youth advocacy in an effort to contain the impact of climate-change in the Caribbean.

The University of the West Indies PhD candidate and Caribbean Adviser to the Next Generation Climate Board, said that she recognised that young people lacked knowledge and awareness about climate change, particularly in rural Jamaica.

“The reason I got into youth activism was that I realised that a lot of young persons in rural Jamaica are being left behind. As rural youth, they stand to lose a lot, because the livelihood of their family and friends are dependent on agriculture; and it is one of the first sectors which will be impacted by climate change,” she pointed out.

The 28 year-old Charlie Mount High School past student, who is from rural St Catherine, said young people will have to step up to the platform and let their voices be heard on issues about the environment.

“At the end of the day, we need to recognise that it is our home; and we need to take charge and have our collective and individual voices heard, to ensure that, when we are given a seat at the table, we will advocate for ourselves and other persons who may not have the opportunity to advocate on their own behalf,” she said.

Both Brown and Tomlinson will be panellists on the JN Foundation Water Project upcoming “Voices of Jamaican Climate Change Activists”, a panel discussion scheduled for broadcast on Nationwide 90FM on October 26 at 5:00 p.m.

The discussion is a precursor to the Climate Innovation Challenge, which will be held on October 26 and 27.

Onyka Barrett Scott, general manager of the JN Foundation, said that she was happy that young persons, such as Brown and Tomlinson, have aligned themselves with causes which are impacting the lives of all.

“They should be applauded for their bold move; and be encouraged to continue their activism, which can only lead to the betterment of the environment,” she said.

Cornelia Walters-Jones, project manager, Water Project Jamaica, said, “this challenge was designed to attract and empower existing and aspiring entrepreneurs to ideate, plan for and develop lines of businesses, which will help to solve a climate-related challenge; and overall, promote increased climate resiliency, particularly in the residential sector.

The Water Project Jamaica is being administered by the JN Foundation. Its objectives are to facilitate the uptake of water adaptation measures in the housing sector across Jamaica.

As the country navigates this period of unprecedented health and economic challenges, the JN Foundation has launched a new resource to offer support to Jamaicans – individuals and businesses – in need of support during the COVID-19 pandemic.

The new website, www.jnlisting.com, is targeted at more than 600,000 JN members and strives to bring together persons seeking jobs and employers and also provide a space for micro and small businesses to promote their products and services.

“As an organisation created to support people to navigate difficult times, we have designed this facility to assist Jamaicans, who have been particularly displaced, so that they can create their own opportunities and regain their independence,” general manager of the JN Foundation Onyka Barrett Scott said.

The site comes amid grim projections by the Bank of Jamaica, which revealed in August that the economy would contract between seven and 10 per cent this fiscal year, significantly above the four to seven per cent it had initially forecast.

Its predictions were supported weeks later by the Planning Institute of Jamaica, which forecast a decline of between eight and 10 per cent in output for the financial year as it acknowledged a devastating 18 per cent decline in output for the quarter ending June when compared to the same period in 2019.

INCREASED UNEMPLOYMENT

Unemployment is also predicted to increase to between 10 per cent and 12 per cent, up from the relative 7.5 per cent rate of 2019, the Bank of Jamaica said.

Making meaning of the data, a study released in September by the Caribbean Policy Research Institute found that 80 per cent of households had lost an average 46 per cent of their income since restrictions began in March.

“These are not ordinary times. There are many families and households which are experiencing severe challenges due to the fact that breadwinners are no longer earning. Some have lost their employment while many others have experienced significant reductions in their income, and our state agencies predict that the road ahead of us is going to be very difficult. Therefore, to rise again, we must support each other,” Barrett Scott said.

PHASED ROLL-OUT

She explained that JN Listing would be rolled out on a phased basis, initially targeting small and micro businesses.

“In the second phase, JN member companies and businesses which we serve will have the opportunity to post available jobs on the website. Job seekers will also be able to upload their résumés for potential employers to access,” she shared.

Persons will be able to search for opportunities on the website by parish or by category.

“The site is easy to navigate, and we believe that it will provide a wealth of valuable information and become a meaningful space for persons to find opportunities,” she pointed out.

Other resources on the website include information to assist users improve their financial literacy, calculators, and career materials.

“We are aiming to create a holistic space where persons can be empowered to manage their finances, and we will also be providing career resources to assist persons to become better informed professionals,” Barrett Scott affirmed.

The JN Foundation, through Water Project Jamaica, is inviting entrepreneurs, climate change activists, women, young people and members of the wider public to enter the JN Climate Innovation Challenge Competition.

The competition will be held over a two-day period, in the context of a boot camp, October 26 to 27. Interested persons are encouraged to submit their application by Sunday, October 11. Subsequently, eight applicants will be shortlisted for the competition. The application form can be accessed via the Water Project Jamaica website at www.waterprojectja.com.

Onyka Barrett Scott, general manager of the JN Foundation, said that the competition will identify suppliers and entrepreneurs who are providing solutions to climate related challenges, particularly solutions geared to residential and/or commercial industries and solutions addressing climate resilience generally, but with a special category focused on water adaptation.

“This challenge is designed to empower existing and aspiring entrepreneurs to ideate, plan for and develop lines of businesses that help to solve a climate related challenge; and overall, promote increased climate resiliency, particularly in the residential sector,” she explained.

She pointed out that the competition, will also provide specific avenues for women and youth-led climate resiliency businesses to participate.

Cornelia Walters-Jones, project manager, The Water Project Jamaica said the prizes are enticing, with a first prize of J$2 million; second prize, J$800,000; and third place, J$575,000. In addition, winners will be hosted for six months to a year, in an incubator or accelerator programmes at the Caribbean Climate Innovation Center in St Andrew.

The Water Project Jamaica is being administered by the JN Foundation. Its objectives are to facilitate the uptake of water adaptation measures in the housing sector across Jamaica. These include:  the use of rainwater harvesting systems; water efficient taps and showers; low-flush toilets; efficient irrigation systems; and grey water recycling facilities, as well as other appropriate efficiency measures.

Other objectives of the project are to increase climate resilient housing in Jamaica, through greater awareness about the business and financial cases involved in developing and building homes, with water efficient measures.

It is also aimed at promoting efficiency in the use of water by Jamaicans in their homes; improve the reliability of water supplies and thereby, enhance the country’s water security and climate resilience.

The competition is in line with the upcoming Climate Innovation Summit, which is scheduled to be held in Jamaica, March 2021.