COLUMBUS, Ohio (WCMH) — On average, Black Americans only answer 38% of questions on the Personal Finance Index, which measures financial literacy among U.S. adults, correctly. One local summer youth program is working to change that.

The Homes for Families Summer Achievers’ Program has partnered with non-profit Yong Money Finances since 2019. The program offers a class that teaches students everything from saving to investing in hopes to equip them with lifelong financial tools.

Homes for Families Director of Education Jennifer McLeon believes access to this information is important.

“I know even myself, I did not receive any financial literacy education growing up at my summer camp,” McLeon said. “So (we hope) to provide them with experiences that they wouldn’t normally have, be exposed to.”    

The two organizations work together to build money management knowledge among Black kids. Aleaha Robinson, the program coordinator, said she also knows the importance of having someone deliver that information that the kids can see themselves in.    

“Seeing Black faces for our students to know that, hey, you can start a certain way, but you don’t have to finish a certain way,” Robinson said. “I thought that was pretty cool for them to know and to do and accomplish.”  

Dondrea Brown, founder of Young Money Finances, understands the earlier these kids know how to handle their finances, the better they will be.   

“What we want to do is provide quality financial education to ensure that our youth have the same experiences that everyone has so that they can make better decisions with their money,” Brown said. “But then also allow them to be exposed to things like investing, which is not really talked about in our community.”  

Kids participating in the class like Zionna Martin-Wilson and William Howard said they know they are gaining something valuable, and they believe all kids should join the program.   

“They still give you education even in the summer program,” Howard said. “You got to invest money in like banks.”   

The goal is to leave a lasting mark that will expand the minds of both these kids and hopefully more in the future.    

“I want them to be able to look back on these moments and look back on these days and say, ‘Hey, I’m going to pay it forward and teach my kids and my family and my community how to manage money the same way I was taught,’” Brown said.     

By Joseph Hammond

Gibraltar, once renowned as the unshakable fortress central to the British Empire, is today embracing her next challenge: becoming a stronghold for skilled service sector workers and future job opportunities.

This British Overseas Territory, located at the southern tip of the Spanish peninsula and just nine miles from Morocco across the Strait of Gibraltar, is strategically positioned for business and tourism. The population numbers reveal a sweet spot: While the United Kingdom’s dipped slightly last year, and Spain’s fell by 0.1%, Gibraltar’s population grew by 1.3%.

To secure her long-term economic prospects, Gibraltar intends to develop dynamic job opportunities across various sectors – even while the Territory’s future status remains under discussion between the UK, Spain, and Gibraltar’s own government. These talks, necessitated by the UK’s departure from the European Union, otherwise known as “Brexit,” will not, however, change the fact Gibraltar is part of the United Kingdom: Spain may covet the Territory, but it will remain no less British than Spain’s exclaves of Ceuta and Melilla on the north coast of Africa remain Spanish and not Moroccan.

In particular, the tourism sector is expected to continue playing a vital role in Gibraltar’s employment landscape. Tourist arrivals have rebounded since the pandemic, as has employment in tourism and other sectors. Spearheading this growth after Gibraltar’s recent election are ministers Hon. Christian Santos MP and Hon. Gemma Arias-Vasquez MP, both key figures in the Territory’s ‘new wave’ of young leaders.

Arias-Vasquez is the minister for Health, Care and Business – with Port, maritime, public health, town planning, procurement, and utilities all falling under her docket. Santos, the minister for Equality, Employment, Culture and Tourism is tasked with further strengthening this latter most critical economic sector. Gibraltar’s size means that ministers often wear multiple hats and conduct an array of external duties: Arias-Vasquez recently represented the Territory at United Nations events, with Santos representing the government during a recent bi-lateral visit to London.

Both new ministers are starting hands-on.

“We are actively working with The Gibraltar College [The Territory’s further education college] to find young people wanting to be trained as tour operators and guides because demand is growing so fast,” said Santos. “The future of work in Gibraltar for today’s generation looks bright.”

Santos, who enjoyed a varied career before politics — including time as a cruise ship entertainer — is well-placed to help Gibraltar expand her cruise ship sector, an industry still recovering and adapting to post-pandemic challenges. Recently imposed restrictions in classic destinations such as the Italian city of Venice, where docking close to the historic center has been prohibited, opens new opportunities for Gibraltar. For young Gibraltarians seeking to follow a professional path like Santos, the 300,000 cruise passengers visiting the Territory in 2023 is set to increase once a new cruise terminal is unveiled.

Other economic offerings are also being emphasized, aided by a rebranding under Santos of Visit Gibraltar, the tourism agency and the Territory’s window to the world, including a push to promote the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector.

The environment towards cruise ships in Gibraltar is a welcoming one as well. New hotels are set to open to support the expansion, addressing the long-standing issue of accommodation capacity for larger events. This strategic investment aims to attract more business conventions, with notable upcoming conferences including the Business Travel Association’s annual conference and the international Cruise Lining Executive Association’s (CLEAR) symposium. Other facilities will improve properties for workers and business owners.

“We are looking to expand airport facilities, particularly for private jets, and will create an aircraft register this year for the first time,” Santos said.

Visit Gibraltar is also seeking to promote the Territory as a location for wedding services and celebrations – as well as marriage registrations – aided by the new venues and increased accommodation. It is quick and straightforward for British and foreign citizens to marry in Gibraltar (though a word of caution: it is less rapid, however, to obtain a divorce).

Much tourism work in Gibraltar is seasonal and, with its 350 days of sunshine, ends as late as November. Still, there is room for expansion when the goal for the future of work is to expand opportunity all year round, creating employment that goes beyond travel and leisure.

“My goal is to make it as straightforward as possible to start a business, making the process seamless and easy,” said Arias-Vasquez.

She stresses Gibraltar’s favorable business environment, which builds on its relationship with the UK. “If a financial services company sets up here in Gibraltar, they can obtain passporting rights into the British market” Arias-Vasquez said. This is significant not only for financial services but also for management companies seeking access to the UK finance market.

Gibraltar also boasts a favorable tax regime with a corporate rate of 15%. However, ease of doing business is equally important.

“We have premised our strategic plan for business on the ease of interacting with all government departments. Any permits they need, they can go to one place,” Arias-Vasquez said.

Efforts are also underway to boost Gibraltar’s economy through the online gaming industry. The territory already hosts several major gaming companies, including Bwin, Ladbrokes, Coral, Gala, and Bet365. As artificial intelligence becomes more integral to the gaming sector, Gibraltar is poised to play a significant role. Additionally, Gibraltar is at the forefront of distributed ledger technology (DLT), which is expected to be heavily influenced by AI. According to a recent report by law firm Triay Lawyers:

“Whilst Gibraltar is at the vanguard of the DLT revolution, Gibraltar’s traditional Fintech businesses continue to evolve, and Brexit has evolved into an opportunity to provide a unique gateway within the European continent to service the United Kingdom.”

These efforts align with Gibraltar’s broader strategy to rebrand itself as a boutique destination that uniquely blends British heritage with Mediterranean charm.

Part of that difference is an increased breadth of culture and sporting events. From the longer-standing Gastronomic and Literary Festivals, the latter expanding to a week-long event — to newer plans for an Oktoberfest and a Marathon run through the tunnels under the Rock — all offer business as well as tourism opportunities for Gibraltarians and visitors alike. A special Christmas season will this year feature an extended two days of concerts and festivities, Santos said.

There’s potential for even further opportunities in the events sector once the Territory’s “national” outdoor sports stadium is expanded. 2021’s heavyweight boxing match, “Rumble on the Rock,” featuring Alexander Povetkin vs. Dillian Whyte II, underscore this promise.

“Today, Gibraltar’s ambitions are big, just as our citizens have the right for them to be,” said Arias-Vasquez.

Gibraltar’s opportunities don’t begin and end with relations with Britain and Spain. The territory is actively courting business and tourists from across the 56-country Commonwealth of Nations. As an active member of the intergovernmental organization’s official business organization the Commonwealth Enterprise and Investment Council (CWEIC) and host of a highly active “Country” hub office, Gibraltar is courting interest and investment from as far afield as India and Australia.

“We may have begun as a defensive fortress, but now, just as then, from the top of the Rock you can see new horizons,” said Santos.