The innovative Aspire (Achieving Success through Personal Investment, Resources and Education) program started by the Government in September 2024, reached a great milestone with 367 young children receiving EC$1000 in their registered accounts.
The Aspire program was initiated for young children to gain knowledge and the habit of investing with an aim to have a secure brighter future.
According to the policies of this program, EC$500 should be held in savings account at St Kitts and Nevis Anguilla National Bank while EC$500 should be invested in shares of local, government-owned entities.
Since the launch of this program, approximately 1,710 applications have been received till date.
Prime Minister Terrance Drew on his official Facebook page posted that enrollment of children will begin on 25 November 2024, urging parents to sign their children between age 5 – 18 and to begin investing for the children’s secure financial future.
PM Drew during the Roundtable stated that this program is initiated to help youth build a financial foundation early-on.
Additionally, PM Terrance Drew emphasized that every child, regardless of their family circumstances, has an equal opportunity to participate in the financial growth of the nation.
He expressed, “It is part of our broader strategy to reduce poverty and create generational wealth for all citizens.”
This program teaches children methods to manage money and grow wealth over time. This gives them a real-world experience in wealth management.
The Prime Minister further highlighted the importance of education in ensuring the program’s success.
He expressed his opinions saying that financial literacy is necessary for growth and they will provide both resources and education to support the youth in their journey to achieve financial independence.
The Aspire program is a way for the government to uplift citizens and strengthen the nation’s economy.
Aspire, along with other government initiatives like pensions for Government Auxiliary Employees (GAE), and the ongoing reform of the Citizenship by Investment (CBI) programme, focus on empowering individuals and to foster economic resilience.
PM Terrance Drew advised the citizens across the nation to take advantage of this unique opportunity. He stated that this Aspire Program is for every child of St Kitts and Nevis.
He said that this program reflects their belief that every young person deserves the chance to dream big and achieve even bigger.
PM Terrance Drew hopes to build a nation where every citizen has the tools and opportunities to thrive and succeed in life.
