A $5-million investment in Jamaica’s youth seeking higher education is set to impact the lives of three young men from Chancellor Hall at The University of the West Indies, Mona campus starting this year.

The three are the first recipients of the Paul Simpson Scholarship launched on Wednesday by Barita Financial Group.

Speaking at group’s annual scholarships award ceremony CEO-designate Dane Brodber said the entity has taken steps to entrench its commitment to support young Jamaicans striving towards their academic goals through the new award.

According to Brodber, the new scholarship was established in honour of Paul Simpson, the founder of Cornerstone Financial Holdings Limited, Barita’s parent company.

Simpson is a former ‘Chancellorite’ who is acknowledged for using success to uplift others. The scholarships in his honour will provide financial support to residents of Chancellor Hall over the next five years.

“This initiative by the Barita Foundation reflects our commitment toward education and youth development. Through education, we empower individuals to create exciting opportunities. We empower individuals to unlock innovations. We empower individuals to contribute meaningfully to society,” said Brodber.

He argued that the scholarships awarded by Barita Financial Group were not just an allocation of funds but a strategic investment placed in promising Jamaican youth who are poised to become the next leaders of the nation.

Since its launch in 2022, Barita Foundation has supported more than 100 students through scholarships and bursaries, with approximately 60 benefiting across multiple categories.

This year, the foundation has invested $11.5 million, reinforcing its commitment to expanding opportunity and raising national standards.

“The scholarships awarded today are more than just financial support, they are investments in our human capital, similar to our own focus of talent development within our own organisation,” said Brodber.

“We want to support your academic journey. We want to invest in the future of our future leaders in our communities and communities across Jamaica,” he told the recipients.

Economics student Damarley Grant, one of the Paul Simpson Scholarship recipients, was represented his fellow ‘Chancellorities’.

Grant, who also serves as head of the hall’s Performing Arts Society, expressed deep appreciation for the consideration.

“I believe that students have suffered disadvantages not because of their personal shortcomings but because of financial hardship, and I don’t believe that should be the cause of not having proper education,” said Grant.

“So this is a great opening for students like myself and the ‘manz dem’ on Chancellor Hall to have such great honour bestowed on them and to have such a lovely scholarship given to them — it means a lot to us, not just myself.

“I am accepting on behalf of an entire fraternity greater than myself and as such we are utmost grateful for that,” added Grant.

He said the scholarship will act as a propeller towards his ultimate goal of becoming a professional in the world of finance and leadership.

According to Grant, this had been his dream from a young age and with the scholarship he is even more excited to face his future.

“This is an awesome stepping stone into the direction that I always dreamed of. Coming from Brown’s Town High School [in St Ann], as a ‘country’ young man growing up I always had ambition to be at this level. I also always wanted to be in economics, serving in both the private and public sectors and I believe it’s an awesome stepping stone into having me achieve that potential,” declared Grant.

Executive director of Barita Foundation, Tanketa Chance-Wilson, said the Paul Simpson Scholarships are to support deserving Chancellor Hall students in pursuing higher education, complement the broader Barita Foundation Scholarship Programme, and honour him.

Chance-Wilson said beneficiaries must be UWI Mona students living on Chancellor Hall who demonstrate great potential but face financial constraints.

She added that the students must maintain a minimum grade point average (GPA) of at least 3.0. In addition, they must be involved is in voluntary or co-curricular activities, have displayed proven student leadership, and though not mandatory, be a student entrepreneur.