Business

FINANCIAL LITERACY DRIVE

Government is intensifying its efforts to educate citizens about financial literacy, in an attempt to ensure they improve their money-management skills, and make better financial decisions. And, Consultant to the Financial Literacy Bureau and “FLB Champion”, David Simpson, said this sensitisation targets every citizen/resident of Barbados, regardless of age, gender, academic, or professional background.

Mr. Simpson emphasised the importance of financial literacy, saying it was critical to our future development as a people, and country. Therefore, he said, officials at the Financial Literacy Bureau (FLB) “will not stop until the objective has been achieved”.

Even children, the FLB Champion pointed out, will be brought into the loop, so they too will be armed with the necessary information to make good financial decisions with regards to any money they receive.

“The Financial Literacy Bureau has been working with the Ministry of Education and other community stakeholders to have our programmes included in each school’s activities.

“More importantly, we are working to have the school curriculum updated to reflect elements of financial literacy and money management being taught to our children from as early as nursery level, right up to university,” he disclosed.

In addition, Mr. Simpson said officials at the FLB had already consulted various community groups, and were actively preparing customised programmes for their members. He noted that the Bureau had also delivered financial literacy interventions for a few corporate entities and other social/community groups over the past six months.

Financial literacy refers to individuals possessing skills and knowledge on financial matters that enable them to confidently take effective action that best fulfils their personal, family, business, and community goals. Several countries across the globe have also introduced financial literacy programmes to help their citizens manage their personal finances.

Financial literacy refers to individuals possessing skills and knowledge on financial matters that enable them to confidently take effective action that best fulfils their personal, family, business, and community goals. Several countries across the globe have also introduced financial literacy programmes to help their citizens manage their personal finances.

Mr. Simpson explained that over the years, in Barbados, it became evident, not only to Government and its agencies but also business support organisations, the banking sector and the credit union movement, that the ability of their various constituents to navigate financial transactions and related matters was not at acceptable levels.

“Financial and money matters touch every single part of our daily existence – we work to earn money; we spend that money investing, saving and consuming – so Government realised that an intervention was required.

**Consultant to the Financial Literacy Bureau and “FLB Champion”, David Simpson. (BGIS)**

“This intervention is based on three key pillars – the improvement of money management skills; building a strong foundation for financial decisions, and promoting the creation of an investment culture that facilitates the creation of wealth that is intergenerational,” he pointed out.

Financial experts across the world are of the view that when people understand basic financial concepts, they are in a better position to navigate in the financial system. They agree that those who receive financial literacy training make better financial decisions and manage their money better than those who do not receive such exposure.

Indeed, some members of the public who participated in the financial literacy sessions here even reported that they have been applying the information shared and are already reaping success.

Mr. Simpson noted that the response to the sessions has been “exceptional”, especially since the weekly webinars were moved to the online Zoom platform.

He said this allowed the FLB to reach more people in the comfort of their homes, offices, etcetera. “Our attendees have valued the insights, information and content shared and have been very engaged in all of our sessions to date,” he indicated.

Financial experts across the world are of the view that when people understand basic financial concepts, they are in a better position to navigate in the financial system. They agree that those who receive financial literacy training make better financial decisions and manage their money better than those who do not receive such exposure.

He said the Barbadian population has been segmented into a few niche groups, namely households; businesses (especially small business and entrepreneurs); children (school aged and tertiary institutions), and community groups/non-governmental organisations, to ensure the sessions are effective.

Some of the areas being covered during the webinars are: Introduction to Savings and Investment; Managing Your Credit Cards; Retirement Planning; Understanding Social Security, NIS and Pension Benefits; Estate Planning – using Wills, Trust, etc.; Costing and Pricing of Products and Services, and Managing Your Credit Rating.

The FLB Champion pointed out that the course catalogue will be revised, so more courses will be available for attendees.

And, for those people who believe they are good at managing their finances, and may not need the training, Mr. Simpson reminds: “There is always room for improvement, so you can do better at financial management. This will translate to more savings, more investments, better consumption practices, as well as more focus on financial and other goals.”

Several small businesses have been impacted severely as a result of the COVID-19 pandemic, and the FLB Champion is encouraging entrepreneurs to join the FLB’s sessions, and receive valuable tips to help them transform their businesses.

“As with any crisis, self-reflection and analysis are important. COVID-19 mandated that we reassess how we conducted our business, how we used technology, as well as how we interacted with our customers and clients.

“This was necessary not only from a health perspective but also in terms of ensuring sustainability and future viability, as consumer spending habits and tastes were forcefully changed,” he stated.

One thing is clear, we have not been able to stretch our dollars like our grandparents did in the past. And, with the rising cost of living because of internal and external factors, the glimmer of hope seems to be fading.

However, if we take advantage of the financial literacy training being offered, we can put ourselves on the path to storing up that nest egg, not only for ourselves, but our children, thus creating that opportunity for intergenerational wealth. (PR/GIS)

Business

NISSS Expected To Pay Out Close To A Billion In Benefits This Year

Close to one billion dollars in benefits are expected to be paid to Barbadians this year by the National Insurance and Social Security Service (NISSS).

This was disclosed yesterday by the NISSS’s Chief Executive Officer (CEO), Kim Tudor, as she spoke to media representatives on the sidelines of the Technical Seminar: Communication approaches and strategies in social security institutions in the Caribbean, being hosted at the Hilton Barbados, Needham’s Point, St Michael, from June 2 to 4.

Noting these funds were the kind of monies that passed through the NISSS as income support for Barbadians, she reiterated: “It is going to be about a billion Barbadian dollars this year in benefits.”

Ms. Tudor further noted that the NISSS, now in its 58th year, had also made it a lot more flexible and easier for self-employed persons. Pointing out that this month the organisation would be holding an orientation session/workshop for the creatives in Barbados, she said this would allow them to “hear in detail and ask questions, specifically about the self-employed”.

Explaining the need for this, she added: “Remember now, with the self-employed, we recognise that people are gig workers, and their money isn’t consistently a monthly salary. They get it based on gigs and other kinds of activities. And you can come to the NIS and pay any amount, at any time, you know. And we will prorate it over the year for you.”

The CEO, in a call out to such individuals, said: “So whatever you have, you can come. You know, there is Crop Over coming up. You make a lot of money at Crop Over, come and pay your NIS for the year, one time. So, those are some of the things that we have made, to make it more flexible. Our social media pages are being followed more and more. And of course, we will push that.”

While also noting that persons are currently registering for the Solidarity Allowance, Ms. Tudor let it be known that now was “a useful time to ask any questions” of the organisation and stressed that as the NISSS moved forward, it would be engaging a lot more with the public via fora and other avenues.

The head of the NISSS, referring to an appeal by one media house to make her organisation’s reports/annual reports more accessible to the public, admitted this was being actively worked on.

She further added that efforts are ongoing to make sure annual reports are updated and soon there would be annual presentations to the public, highlighting the progress of the fund, how it was performing and how much it was paying out, among other things.

“That’s the information we will share with the public so that we can build that trust because we are working hard for you. We recognise…the important role that social security plays in income security, so we take it very seriously, and we want you to be able to know that we are …working towards making sure that happens for you,” she stated. (PR/GIS)

Caption: Chief Executive Officer of the National Insurance and Social Security Service (NISSS), Kim Tudor, speaking to the media at Hilton Barbados yesterday. Looking on is Director of Antigua and Barbuda’s Social Security Board, David Matthias.

Business

CIBC Caribbean Relaunches Unsung Heroes Campaign to Spotlight Everyday Champions

by Deanzer Roberts

There was a sense of renewed purpose in the air on May 30 as CIBC Caribbean brought together staff, stakeholders and community leaders both in person and online for the long-awaited relaunch of its beloved Unsung Heroes programme.

Held at the bank’s regional Head Office, the event marked the return of a signature initiative that once captured hearts across the region from 2003 to 2013. Now, more than a decade later, the campaign is back—refreshed, reimagined, and reaffirmed in its mission to spotlight the quiet champions of Caribbean society.

Delivering the keynote address was Donna Wellington, Chief Country Management Officer, who warmly reflected on the “immense goodness and kind acts” unearthed during the original programme’s tenure. She expressed excitement at the prospect of again discovering individuals who, though unheralded, are transforming lives through service, kindness, and courage.

With its original foundation rooted in honouring selfless men and women, the revitalised campaign expands the lens to include young people aged ten and above. According to Wellington, many of the region’s youth are actively engaged in positive, socially conscious efforts—ranging from environmental activism to community health awareness—but often go unrecognised. The new campaign seeks to change that.

Under the updated format, persons can be nominated for their outstanding work within their communities or for acts of heroism, bravery, or extraordinary kindness within the 12 months prior to the start of the campaign. The initiative will run across all ten territories where CIBC Caribbean operates, culminating in the announcement of local winners in August and regional awardees in September.

Wellington noted that the programme would once again be a key initiative under the CIBC Caribbean ComTrust Foundation, the charitable arm of the bank. She acknowledged the trustees of the Foundation for their enduring commitment to community development and expressed particular thanks to Debra King, the longest-serving trustee, for her guidance and leadership since the Foundation’s inception.

Established in 2003, the ComTrust Foundation has become a critical force for good across the region, disbursing over US$32 million—or approximately BDS$64 million—towards projects in areas such as health, education, youth development and environmental sustainability. From scholarships at the University of the West Indies to after-school programmes with the YMCA, the Foundation’s reach has been broad and impactful. It has supported young entrepreneurs through Youth Business Trusts and partnered with organisations like Hands Across the Sea to promote literacy in the OECS.

The Foundation has also stepped in during times of crisis. From supplying PPE during the COVID-19 pandemic to assisting in the aftermath of Hurricane Beryl and the La Soufrière volcanic eruption, its commitment to regional resilience has been unwavering.

One of its flagship initiatives, Walk for the Cure, continues to grow in popularity, attracting over 35,000 participants last year and raising more than US$5 million to support cancer care across the Caribbean.

Wellington also used the occasion to touch on the bank’s transformation journey. She described CIBC Caribbean as a more agile and digitally focused institution, offering customers a modern, secure and user-friendly banking experience. The bank, she said, remains deeply connected to the communities it serves, committed not only to financial innovation but to people-centred development.

As the event closed, anticipation was high for what the next generation of Unsung Heroes would bring. With nominations soon to open, the relaunch signaled more than the return of a programme—it marked a reaffirmation of Caribbean compassion, character, and community spirit.

Caption (from left to right) Corporate Communications Manager, CIBC Caribbean, Anthony Blackman, Chief Country Management Officer, Donna Wellington, Corporate Communications Manager, Debra King, Associate Senior Counsel and Trustee of the CIBC Caribbean ComTrust Foundation Olivia Burnett and Secretary to the ComTrust Foundation Shantelle Griffith looking at the coffee table book Unsung Heroes of the Caribbean featuring past winners of the bank’s Unsung Heroes programme.

Business

Let Your Riddim FLOW

Flow ignites with vibrant brand refresh

The hills of St. John pulsed with the heartbeat of Barbados on Saturday night as Flow unveiled its bold new brand campaign, Let Your Riddim Flow, during a high-energy celebration at We Gatherin’.

Against a backdrop of infectious music, dancing, and vibrant community spirit, the leading telecoms provider in partnership with the National Cultural Foundation (NCF) brought together scores of Barbadians in a display of cultural pride and corporate transformation.

Throughout the day, there was a hive of activity in the Flow Riddim Zone. Then the night was marked by a carnival-style parade featuring stilt walkers, moko jumbies, costumed dancers, and Flow’s signature blue characters, who lit up the of Pool Woods venue with flair and fun.

The event served as the public launch of Flow’s brand refresh, tied to the evolution of its parent company from C&W Communications to Liberty Caribbean — a name that signals greater regional pride and investment in technology and customer experience. But as Flow’s Vice President Desron Bynoe made clear, this transformation is about more than a name.

“We’ve turned a bold new page,” Bynoe declared to the lively crowd, “and we’re doing it with a rhythm that’s uniquely Caribbean. This campaign isn’t about products or plans. It’s about people and pride.

“It’s about connecting our culture to our technology in a way that feels real, feels local, and feels “Bajan to de bone”.It’s a cultural connection. Flow Barbados is still the brand you know and trust — but now, with more colour, more energy, and a louder beat. We’re inviting you to Let Your Riddim Flow.”

With a renewed focus on local communities, Flow has already rolled out a suite of initiatives that go beyond connectivity — from its Experience Uplift campaign, which takes customer service into the heart of neighbourhoods, to Technician Pathways, a training and development programme empowering the company’s nearly 100 technicians. Flow has also expanded its support of digital inclusion through JUMP, helping students and families bridge the digital divide.

The festive launch perfectly aligned with We Gatherin’ 2025, the government-led, year-long initiative aimed at reconnecting Barbadians across the island and the diaspora. As a major sponsor of the national celebration, Flow’s $120,000 partnership with the Division of Culture underscores its commitment to not only connecting people digitally, but culturally and emotionally.

“At Flow, we believe in celebrating where we come from while building where we’re going. Whether you’re a DJ in Bridgetown, a fisherman in Skeete’s Bay, or a student dreaming big in Gall Hill — your rhythm matters. Flow is not just your telecom provider; we are your rhythm partner,” said Bynoe.

The main stage came alive when the parade joined Bynoe on stage as new Flow jingle was debuted.

As the campaign rolls out across media, events, and customer touchpoints in the coming weeks, Flow Barbados is moving to a new beat — one that is proudly Caribbean, undeniably Bajan, and ready to connect the future. (PR)