Scores of children from Laventille and environs were taught the rudiments of money management and entrepreneurship when RBC participated in a recent financial workshop hosted by Waby says Yes Programme (We Are Better Youth), a release said.
“We didn’t just focus on theory during the sessions but we simulated an ATM deposit and withdrawal and conducted role play loan interviews so that they got a sense of what this would look like,” said Jason Thomas, area vice president, Personal Banking, RBC Royal Bank.
Thomas who delivered the presentation also explained the basics of banking, the components of a business plan and how to set up a business.
Thomas said RBC was proud to support this project as it is important for young people to grasp the concepts related to business and entrepreneurship from an early age.
He said: “Exposing children to this information gives them the tools they need to make sound financial decisions in the future. It also serves to demystify money management so that they understand how wealth creation works.”
Earlier this year, RBC entered into a three-year partnership with Waby through which the group will receive funding and other forms of support from the bank.
Waby engages young people between the ages of four and16 from East Port-of-Spain through the Youth Entrepreneurship for Self Empowerment (YES) programme, a structured entrepreneurship development initiative.
The goal of the YES programme is to promote and cultivate youth entrepreneurship through education and business and career opportunities and includes 12 modules that focus on a wide range of topics.
This partnership reinforces the bank’s commitment to sustainable investment, and represents one of the ways in which RBC partners with the NGO sector to develop and empower children, strengthen families, and enrich communities. RBC employees will support as volunteer chaperones for the programme’s duration.
RBC remains committed to the sustainable development of the communities in which it operates and building capacity among young people through initiatives, such as the RBC Young Leaders Programme and the Royal Bank Education Foundation.