KINGSTON, Jamaica – With approximately $6 million spent directly on scholarships in the inaugural Barita Foundation Scholarship Programme last year, the oldest brokerage house in Jamaica is gearing up to assist more students for the upcoming 2023/24 academic year.

The programme was established in 2022 with the premier scholarship – the Rita Humphries Lewin Scholarship in Early Childhood Education.

Deputy Chairman for Barita Investments Limited and group president/chief executive officer for Cornerstone, Paul Simpson, was pleased to reveal that the Scholarship Programme allows the Foundation to extend its impact beyond early childhood education, a statement said on Wednesday.

The programme encompasses five distinct scholarship categories targeting Jamaicans pursuing studies locally.

These scholarships are the Rita Humphries Lewin Scholarship in Early Childhood Education valued up to $400,000 and open to persons studying early childhood education, the Cornerstone/Barita Foundation Tertiary Scholarship valued at up to $350,000, the Cornerstone/Barita CSEC/CAPE Scholarship for students sitting these examinations, the Cornerstone/Barita PEP Scholarship for students who have completed PEP and are children of Cornerstone or Barita clients or children of staff members, and the Cornerstone/Barita Staff Scholarship for persons permanently employed by the company for six months or more.

According to Simpson, the Barita Foundation Scholarship Programme made a significant impact last year by providing life-changing opportunities to numerous students.

These recipients included many underserved youth who had exceptional achievements in the Caribbean Examination Council (CSEC and CAPE) and PEP exams, as well as students possessing valuable skills, talents, and aspirations that aligned perfectly with our program’s objectives.

“We are currently conducting interviews with approximately 60 students who will be shortlisted for the scholarship awards event scheduled within the next few weeks. Through our interactions with these students, it is evident that their academic achievements hold great promise for the future of our country. While we may not be able to award scholarships to all of them, their accomplishments speak volumes, providing hope and optimism for what lies ahead,” he said.

Tanketa Chance-Wilson, executive director of the Barita Foundation, said the scholarship programme forms a significant part of the Foundation’s work under the education pillar.

“Our scholarships were established for several reasons, including helping students to bridge the gap between attaining higher education and financial need,” Chance-Wilson said.

She explained why some scholarships have specific criteria for the area of study.

“Our primary objective is to establish a talent pipeline. To achieve this, we’ve introduced scholarships designed to appeal to students focused on specific subjects that prepare them to enter finance and investment banking careers. This aligns with our corporate social responsibility (CSR) efforts to introduce and impart financial literacy among students. Creating a pathway to attract and retain a motivated team is at the heart of the Foundation’s staff scholarship, helping members along their academic journey,” Chance-Wilson said.

In 2022, at the inaugural Barita Foundation Scholarship Awards Ceremony, 33 scholarships and grants were awarded, with an additional 15 students later benefitting from bursaries. This represented a wide cross-section of successful applicants, with one additional award offered through the Governor General’s Programme of Excellence – Summer of Service.