State Minister in the Education, Youth and Information Ministry, Hon. Floyd Green, has hailed the efforts of the Jamaica Stock Exchange to promote financial literacy among high school students and teachers through its Stock Market Game.
“They (JSE) are innovators at heart. They have been…finding ways to ensure that as a country we get more financially literate,” Mr. Green said, noting that the game is helping to demystify certain principles and concepts regarding the stock market.
Mr. Reid was addressing a luncheon at the Jamaica Pegasus Hotel in New Kingston on September 30 to promote the new format of the game, which includes teachers.
The JSE launched the Stock Market Game in 2008 as a fun way to introduce students to elements of stock market trading. Students from fourth to sixth form learn about different companies, watch for trends and make speculations.
The new format has shown potential to motivate teachers and students to better plan for their future and to engage in financial planning, research and use of investment products and services.
Mr. Green, in the meantime, said the Government is committed to strengthening the Junior Stock Exchange, with the recent tabling of a Bill in Parliament to restore concession to companies.
He move, he said, will lead to business growth and employment creation.
He cited the success of companies such as Knutsford Express, Kingston Live Entertainment Group and LASCO that have received benefits under the junior market.
Concessions include a 10-year period when no corporate tax is paid for the first five years and 50 per cent of the prevailing rate is paid in the next five years.
The Junior Stock Exchange was established in 2009 to encourage and facilitate the development of smaller companies, particularly newer enterprises by enabling them to raise equity.
Meanwhile, Senior Marketing Officer of the JSE, Michael Johnson, said it is important for students to be financially literate.
Having such knowledge, he said, will make them more prudent during their earning years.
Sagicor Investments Jamaica Limited is the main sponsor of the game.
Source: Jamaica Information Service