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Promoting economic inclusivity are ways to contribute to positive financial changes in the Caribbean community

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Photo Credit: Drazen Zigic

BY SIMONE J. SMITH

How much of a difference does your upbringing make to your life? It’s a question that’s been debated for ages and, in a world with a greater focus on equity, the wealth gap within society is under the microscope.

Compare the Market AU has done a survey of more than 1,000 Canadians to ask questions about their upbringing, financial education and habits, social class and home ownership. Now, I am not sure the demographics of this research, but it did make me think; how much are we (the Caribbean community) represented in these numbers?

The survey revealed a good degree of class mobility, with 32.8% of Canadians who said they grew up working class now identifying as middle class.

Additionally, younger generations were more likely than previous generations to say they were raised upper class. While only 0.4% of Canadians aged 58 and above said they had an upper-class upbringing, this rose with each subsequent generation up to 10.8% for 18–25-year-olds. Research indicated that:

  • Younger generations are more likely to be born upper class than older generations
  • Almost one third of Canadians consider themselves serious savers
  • Over 40% of half of upper-class Canadians own a home, compared to less than a quarter of the working class

Upbringing can have a big impact on how people handle money as an adult:

  • 6% received helpful lessons on money from their parents
  • 7% said their parents taught them, but it wasn’t helpful
  • 3% said their parents didn’t teach them and they had to learn in other ways
  • 4% never received lessons from their parents on money and they still struggle today

This is where we as a community really need to focus our attention. Today, almost 40% of Canadians say they budget to save and spend on what they want, while almost a third (32.3%) consider themselves serious savers, rarely spending money on things they don’t seriously need. Over one-in-ten were impulse buyers (12.0%). Worryingly, a further one-in-ten said they rarely had savings and spent beyond their means (13.2%).

When it comes to home ownership, just under 60% of our survey respondents who were 18–25-year-olds were non-homeowners while just over 41% were homeowners (either with a mortgage or owning outright), but this changed with over 50% of 26–41-year-olds owning a home vs 47% who didn’t. Older generations were even more likely to be homeowners, with over 65% of those aged 58 and above being homeowners.

Of course, on one hand, this is to be expected. The older you are, the more time you’ve had to save up money for a house. The problem is that house prices have outstripped wage growth, so those dreaming of owning a home are chasing a goal that’s getting further away from them every year.

This is where wealth (and family financial support) can make a big difference in home ownership. In Canada, 63.1% of the working class didn’t own a home, compared to 42.5% of the upper class and 37.5% of the middle class who owned, with a mortgage.

The data shows that many Canadians have been able to work their way up the social ladder by having helpful guidance in childhood or educating themselves about money, but it isn’t always easy. As Stephen Zeller, General Manager of Money at Compare the Market notes, knowledge can be the difference between sinking and swimming in an economy that seems to be set on inflation.

“There are some great resources out there to help people get a better understanding and manage their finances. Saving even just a small amount in terms of your interest rate can save you thousands of dollars over the course of the loan.”

Promoting financial literacy and empowerment within the Caribbean community can be a positive step toward fostering a healthier relationship with money. Encouraging open discussions about financial matters, providing access to education and resources, and promoting economic inclusivity are ways to contribute to positive change.

We, as humans are guaranteed certain things in life: stressors, taxes, bills and death are the first thoughts that pop to mind. It is not uncommon that many people find a hard time dealing with these daily life stressors, and at times will find themselves losing control over their lives. Simone Jennifer Smith’s great passion is using the gifts that have been given to her, to help educate her clients on how to live meaningful lives. The Hear to Help Team consists of powerfully motivated individuals, who like Simone, see that there is a need in this world; a need for real connection. As the founder and Director of Hear 2 Help, Simone leads a team that goes out into the community day to day, servicing families with their educational, legal and mental health needs.Her dedication shows in her Toronto Caribbean newspaper articles, and in her role as a host on the TCN TV Network.

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Step into Spring with SheaMoisture’s new collection

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BY TRISHA SMITH

In the heart of downtown is the historical charm known as the Distillery District. Nestled within this urban tapestry were the most beautiful Black women and men, dressed in purple and blue glam, coming to celebrate yet another SheaMoisture collection in the sheik Archeo event space.

The atmosphere was giving luxe with a welcoming and social vibe. As soon as I arrived, I was given a cute flower crown that brought yet another layer of cohesiveness in everyone’s matching attire.

The place was buzzing with Toronto influencers: women in business, creatives and journalists like me, eager to connect, while enjoying a tasteful selection of finger food and signature cocktails. DJ Martina was spinning the latest Afrobeats and R&B, keeping the energy high. There was a visual artist vendor customizing complimentary plants, and hairstyling stations, where women were upping their hair game with SheaMoisture’s new product collection.

Speaking of new collections, SheaMoisture is launching a whopping eight new products this summer! The Scalp Moisture collection consists of 4 new products: shampoo, conditioner, pre-wash masque and scalp cream. The original Coconut & Hibiscus Frizz Free Curl Mousse has two new sisters: a multi-styling mousse from the Manuka Honey & Yogurt line, and the Wrap and Set Mousse, from the Manuka Honey & Mafura Oil line. This one is for roller sets and twist outs while the multi-styling mousse was formulated for the ladies with braids, locks and up-dos. There was also a new whipped curl cream, and last, but certainly not least, a Coconut and Hibiscus +Flaxseed edge gel. We all know a Black girl’s edge is the icing on any hairstyle and this edge gel offers a semi-firm hold without the flaking and unnatural stiffness.

I’ve had the opportunity to smell and try them all and as always, the scents never decline, and the consistency is on point. One thing I personally love about this brand is their dedication in providing Black women clean organic ingredients, free of parabens, petroleum and mineral oil which is a big plus in my book as a registered nutritionist. It’s important to note that whatever we put in our scalp and on our bodies, goes directly into our bloodstream. Harmful ingredients can cause toxic build-up and hormone disruption while SheaMoisture’s organic ingredient profile does what it’s supposed to do, minus the hidden harm.

My personal favourite from the line is the scalp cream. It’s used just like hair oil but what I love about it is the cream application. I don’t have to worry about an overly shiny scalp with oil dripping down my forehead on a hot summer day. I also don’t have to be weary of the oil messing up my clothes during application (which happens every so often). The application tip t is perfect, the cream goes directly on my scalp, and it disappears as soon as you massage it in. No white film or build up and I’ve been using it every day! It’s obvious that our hair concerns are always at the forefront and SheaMoisture always has its way of delivering exactly what we need.

Their dedication to fair trade and ethical sourcing has brought forth fair wages and a better quality of life for families in Ghana and Burkina Faso. SheaMoisture has not only made their mark globally with remarkable products, but they have changed the lives of thousands through partnerships and most importantly, giving back.

SheaMoisture was also proud to announce their second year of the Dream Fund! This fund is a continuation of the grant program to offer financial support to the community. The Dream Fund grant program offers $10,000 each to five Black owned businesses in the beauty and wellness space. If you are a Black business with a product, or service that serves the community, you are encouraged to apply for your chance to win! Applications open April 15th, 2024, and close May 31st, 2024. Winners will be announced July 15th, 2024! Keep in mind, you do not need to be a hairstylist, or specifically in the beauty industry to apply.

Last year, a book publishing company, a fitness organization, a chef and a hair accessory company took home the gold. No matter how big, or small your company is, think about the greater impact you can make with an extra $10,000! The Dream Fund serves all Black businesses across Canada and is just one of the many grants, scholarships and funding accessible to the Black community on a global scale.

SheaMoisture is out here making big moves and standing with the underdogs so we can all rise in power and service to our community, and for that I will always support this product line and their initiatives.

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Amplifying authentic African narratives; the stars came out at the BSO Symposium

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BY SIMONE J. SMITH

I tell you, the team at Humanity Ova Vanity is solidifying their place in Toronto’s creative scene. It is incredible to see an organization embrace the essence of human creativity, curating experiences that transcend superficiality and celebrating the authentic expressions of people.

With every event that the Toronto Caribbean Newspaper is invited to, I am exposed, and have a deeper innerstanding about their commitment to showcasing the richness of human ingenuity. Through their curated experiences, they invite the world to witness the beauty that arises when humanity comes together in genuine expression, fostering connections and inspiring others to embrace their own creativity.

On Tuesday, April 2nd, 2024, the Black Screen Office (BSO) hosted a Fireside chat with O-T Fagbenle, an acclaimed: actor, writer, and director known for his roles in: “The Handmaid’s Tale,” (which earned him an Emmy nomination for Outstanding Supporting Actor) “The First Lady,” and his creation “Maxxx.” In 2022, he starred as Cameron Lautner in the Apple TV+ drama “WeCrashed,” a series inspired by the tumultuous story of WeWork, and O-T can next be seen in the upcoming series “Presumed Innocent,” for Apple TV+ opposite Jake Gyllenhaal and Peter Sarsgaard.

The exclusive fireside chat in conversation with Donisha Prendergast was held at the Toronto Regional Board of Trade (The Quay) that forms part of the BSO Symposium, a platform dedicated to amplifying authentic African narratives and fostering substantial representation in the arts. The symposium successfully facilitated featured speakers from overseas and connected students with the opportunity to participate in creative discussion. The discussion revolved around bringing authentic African stories to life. It’s evident that African stories have been untold, mistold, and marginalized. While there are efforts to address this, they often seem minimal compared to the potential for true representation and impactful storytelling. The goal is to catalyze change.

The symposium became a starting place of strength, celebrating the global influence of African culture—the “origins of cool.” It featured: decision-makers, broadcasters, streamers, funders, distributors, producers, and creatives in the screen industry, a day for collective ideation on what’s possible, not just locally but globally.

The symposium was hosted by Melanie Nicholls King, and featured keynote interviews (Sean Cohan), and presentations from esteemed guests (Jully Black, Mark Bamuthi Joseph, Rob Maylor), roundtable discussions, networking opportunities, and special presentations. “This enriches our collective endeavor, making it not just a meeting but a milestone event for actionable change,” shares Donisha Prendergast Founder at HOV.

Joan Jenkinson, Executive Director of the BSO, stated, “Our mission at the Black Screen Office extends beyond initiating dialogues; we aim to enact real change. O-T Fagbenle’s participation underscored our dedication to creating an inclusive screen industry that celebrates the richness of Black stories.”

If the success of the symposium was not enough, the rainy evening of April 2nd, 2024, brought its own treat. I made my way down to Its OK Studios to watch Canada’s #1 weekly podcast (now available on Apple Music), to watch a live episode of Extra Gravy with hosts: That Dude McFly, Alicia ‘Ace’ West and Big Norm. O-T made his second appearance of the day to screen episodes of “Maxxx!”

This will be a reunion of sorts and nothing short of comedic, as Marlon was one of the comedy writers who workshopped the development of Maxxx in Toronto (now showing on Channel 4 and later picked up by Hulu).

The highlight of my night was my sit-down interview (stay tuned for that) with Rob Maylor, a Jamaican-American lawyer, producer, and spearhead at Mental Telepathy Pictures. He is noted for executive producing “Sprinter,” championed by Jada Pinkett-Smith and Will Smith. Collaborations with luminaries like Shaka King and companies such as Hillman Grad showcase his commitment to authentic storytelling.

With a rich background including stints at UTA, Mark Burnett Productions, and Magnolia Pictures, Rob’s expertise extends to notable projects like: Paramount’s Bob Marley: One Love,” and HBO’s “Get Millie Black.”

I am excited about what he shared with me, and I know it is going to excite our creatives who are reading this. The Jamaica Promotions Corporation (JAMPRO), an agency of the Ministry of Industry, Investment & Commerce and home of Jamaica’s Film Commission, has announced the opening of the Call for Applications under the Jamaica
Screen Development Initiative (JSDI).

The JSDI is a J$1 billion financing initiative by the Government of Jamaica (GOJ) aimed at bolstering and enriching the local film industry while attracting destination films. Through the JSDI, filmmakers, animators and creatives will be supported in developing eligible, local screen-based projects across various stages of development.

The Call for Applications for grant and loan support for Development, Production and Post-Production (Completion) phases end on April 28th, 2024. However, applications for Film Festivals and Market Attendance, applications for Marketing and Distribution, as well as Production Rebates will be accepted on a rolling basis.

Applications will be subjected to a validation check to ensure eligibility and assessment by an evaluation panel comprising local and international film industry experts. Assessment factors include: the strength of the application, demonstrated track record and/or ability to progress project development and execution, financial feasibility, market interests and marketing plan, as well as the overall benefit of the project to the Jamaican economy.

Exciting indeed! Application guidelines as well as the application form can be found at: https://dobusinessjamaica.com/jamaica-screen-development-initiative/.

Incredible work is being done here in Toronto, and we are so happy to be at the helm of it.

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Not just a reunion; It’s a powerful catalyst for unity and growth. Welcome to the 10thBiennial Jamaica Diaspora Conference

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BY SIMONE J. SMITH

“Under the theme ‘United for Jamaica’s Transformation: Fostering Peace, Prosperity and Youth Empowerment,’ this year’s conference promises to be a pivotal platform for collaboration between Jamaicans, the Government and other stakeholders, as we work towards achieving the national development goals.” Minister of Foreign Affairs and Foreign Trade, Senator the Honourable Kamina Johnson Smith

There is definitely excitement surrounding the 10th Biennial Jamaica Diaspora Conference, and this excitement was evident at the launch that took place on Thursday April 4th, 2024, at the Ministry of Foreign Affairs and Foreign Trade, 2 Port Royal Street, Kingston. The Conference theme is “United for Jamaica’s Transformation: Fostering Peace, Productivity, and Youth Empowerment,” and the hybrid event will be held June 16th – 19th, 2024, at the Montego Bay Convention Centre. It will be the first in-person conference since the COVID-19 pandemic.

The Jamaica Diaspora Conference is a signature biennial global forum that connects Jamaicans and persons of Jamaican descent living across the globe with the aim to strengthen linkages and build alliances that will fuel Jamaica’s growth and development on the world stage.

Since its inception, participation in the conference has steadily increased and as such this year’s target is 5,000 participants. The conference highlights that the Jamaican Diaspora represents much more than their ability to produce remittances, with its significant untapped economic impact on entrepreneurship development and the transfer of new and emerging skills.

Minister of State in the Ministry of Foreign Affairs, Honourable Alando Terrelonge, who carries the day-to-day mandate for Diaspora Affairs, explained that the conference will also celebrate the cultural heritage and achievements of Jamaicans worldwide, while providing a platform for networking and dialogue on critical issues facing the Diaspora and Jamaica. He said marketing Jamaica as ‘Destination Trade and Investment’ and using the conference to provide key linkages for investment opportunities, is to “Get Jamaicans across the diaspora to invest in Jamaica, see investment returns, and see yourselves earning money.”

“Everyone knows Jamaica for its sunshine, but Jamaica is more than our beaches. It’s more than coming down and having a Red Stripe beer, having some jerked chicken or going to Dunn’s River Falls. Jamaica is also one of the best economies in the developing world,” the State Minister said.

Key stakeholders, including Conference Chairman Mr. Courtney Campbell, Legacy Partners VM Group, GraceKennedy Group, and Jamaica National Group Limited, were lauded by both Ministers for their unwavering support and contributions to Diaspora engagement.

The Thursday rising launch also saw the attendance of other Government Ministers such as: the Honourable Delroy Chuck, Honourable Franklyn Witter and the Hon. Marsha Smith, as well as representatives from a slew of Jamaican business conglomerates, who have expressed their enthusiasm for the upcoming conference, emphasizing the importance of unity in propelling Jamaica towards unprecedented growth and inclusivity.

Guests attending the Conference this year will have thematic sessions addressing the following:

  • Educational transformation through digitalization: exchange, exposure and opportunities for self-actualization in Jamaica and the diaspora
  • Embracing the migration compact: sustaining a thriving diaspora
  • Breaking barriers and building futures: empowering Jamaican communities with citizen security, entrepreneurship, digital age technologies, and productivity, in partnership with the diaspora
  • Empowering the youth for the future economy: actions and pathways to success and paying it forward
  • Tourism and wealth creation

During her keynote address, Foreign Minister the Honourable Kamina Johnson Smith, highlighted the significance of the diaspora’s contributions to Jamaica’s development including strategic partnerships in various sectors: healthcare, education and other socio-economic sectors. She also shared that the Ministry anticipates the official launch of the Jamaica Diaspora Engagement Model (JAM-DEM), to also explore trade and investment opportunities aimed at furthering Jamaica’s development.

Guests also have the Marketplace to look forward to, as well as the Government at Your Service sections which will facilitate access to a wide range of services from both the business and public sectors. The Diaspora Day of Service will take place on June 20th, 2024, and will entail a wide range of charitable projects pioneered and supported by the diaspora across the country. In some cases, there is broader coordination from within regions and some initiatives are pursued at the individual or organizational level. Projects are registered on an event platform to facilitate broader support, coordination and reach.

The launch had surprises like a digital dollar giveaway, and other engagement surprises that ensured that as the world gathers in Montego Bay, this in-person conference after five long years will not just be a reunion; it’s a powerful catalyst for unity and growth. Register NOW to be a part of this historic homecoming.

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