The Jamaica Deposit Insurance Corporation (JDIC) has awarded students who participated in its online Android Financial Education Competition.
The competition, which targeted secondary-school students from grades seven to 13, was presented as a game designed to increase children’s understanding of the financial system and information related to the deposit insurance scheme in Jamaica.
Dominique Ferguson, a 10th-grade student from the Convent of Mercy Academy (Alpha) was awarded a cash prize of $75,000 for copping first place for the county of Surrey. Second place went to Yannick Dennis from Kingston College. He received $60,000 cash. Jazzwad Goldson from Vauxhall High School got $40,000 cash for third place. All three schools received laptops.
In the county of Cornwall, similar cash awards went to Trae Eldemire, who walked away with the first-place prize; Tajay Granville for second place; and Shemar Gordon for placing third. The three students are from Cambridge High School. The institution also received a laptop.
Tacky High was the top school in Middlesex, with Daneilia Dennis receiving the first-place prize. Chrisanna Henry and Sachelle Lewis from Denbigh High collected for placing second and third, respectively. The school was also presented with a laptop.
Speaking at the awards ceremony, held on July 1 at the Terra Nova All-Suite Hotel in Kingston, Chairman of the JDIC, John Jackson, said financial education needs to start early in life, as persons who are financially literate have better money management skills and make better financial decisions.
He said although the competition ran for only three months, the knowledge the students gained will be useful for their entire lives.
The Chairman encouraged members of the audience to learn more about the capital markets and investments, adding that this will help them to make wiser economic choices.
Meanwhile, Mr. Jackson commended the Government for implementing the National Financial Inclusion Strategy (NFIS) 2016-2020.
“Financial literacy and financial inclusion in nations are enablers of economic growth, job creation and development,” he said.
For his part, Senior Education Officer at the Ministry of Education, Youth and Information, Marlon Williams, said the JDIC has made a huge deposit in the education system.
“The online game will create more interest and enthusiasm for the Mathematics and Business courses in schools,” he noted.
Mr. Williams said that through the JDIC initiative, students will develop better spending and saving habits and think about future financial goals.
The competition is one of many initiatives by the JDIC to educate Jamaicans about the country’s financial system.