- June 17, 2019
- General
RF Merchant Bank & Trust Limited (RF) recently awarded cash prizes to two Junior Achievement (JA) Companies as part of its RF Junior Investor Education Program.
The Program, launched in 2018, is designed to give students in the JA program a better understanding of the value, features, and planning processes associated with saving and investing and help them apply this knowledge to long term financial security and wealth.
The Junior Investor Education Program is divided into one-year cycles in which each company participates in RF’s “Investment Game”. The game involves each company being assigned an investment portfolio of $100,000 in notational funds. They are then challenged to build and manage the funds implementing investment strategies with the assistance and guidance of a RF representative. At the end of the cycle, the top two companies generating the highest return win a cash prize, $3,000 for first place and $2,000 for second place.
JA company Kulture, sponsored by KPMG, won first place and the Pulse Company sponsored by Bahamas First took the second place prize. Both companies received their awards at a special event on June 1st at The University of The Bahamas’ Performing Arts Centre. RF President, Mr. Michael Anderson, presented the awards to the winning companies and commended the students on their progress along with RF JA advisors, Ms, Janeen Bethel, and Mr. Quentin Gibson. “We are deeply impressed with the level of understanding the students have displayed,” Mr. Anderson said, “The goal of this program is to create a better financial future for Bahamians by developing a culture of saving and investing. Given the students’ enthusiasm and commitment to the program, we are well on our way to achieving this goal,” Mr. Anderson said.
Program organizer, RF Pensions Assistant Vice President, Ms. Cleora Farquharson thanked JA for its partnership and its commitment to youth development. “It cannot be understated how critical it is for financial literacy to be taught at an early age,” “Ms. Farquharson said. “The earlier children are exposed to these lessons, the greater the chance of them practicing smart financial habits in adulthood.”