The Social Stock Exchange donates funds to the Ministry of Education and 2 NGOs

The Jamaica Social Stock Exchange (JSSE) recently presented checks totaling $384,668.95 to the Ministry of Education and Youth and two non-governmental organizations (NGOs) to support their ongoing initiatives.

The sum, accumulated from donations via the JSSE platform, represents additional funding for the entities’ interventions that target vulnerable people.

A check for $254,168.95 has been presented to Education and Youth Minister Fayval Williams for the ‘One tablet or laptop per child’ initiative, which aims to bridge the divide in the education sector, providing at least 100,000 students in need with the tools to facilitate learning based on information and communication technologies (ICT).

Over $2.3 million has so far been raised by the JSSE in collaboration with the ministry and the Private Sector Organization of Jamaica (PSOJ) for the initiative. Additionally, Mustard Seed Communities Jamaica received $80,500 to help provide personal hygiene items to adults and children housed in their apostolates.

JSSE Director Nora Blake reported that due to funding difficulties faced by Mustard Seed, the entity went to the market to seek public support, through donations.

The JSSE was able to raise nearly $2 million initially. “Massy Distributors has been our main partner in this effort, contributing $1.5 million in kind,” she said.

This earned the company special recognition as top donor at the Jamaica Stock Exchange’s (JSE) 17th Regional Investment and Capital Markets Conference in January, where Massy listed on the stock exchange. . Meanwhile, the St Ann-based Teen Challenge Jamaica received $50,000 to meet the needs of the organization, which focus on addressing addiction issues among young people.

The entity has a small farm with a poultry farm and a vegetable crop, the products of which are sold to the local hospitality industry. This was reinforced by the initial release of JSSE funds during the onslaught of COVID-19.

“When the COVID-19 pandemic hit, it reduced tourist activities. The social sector body then faced a serious cash flow problem with the possibility of having to close the business, which would have affected the mission of the project,” explained Ms Blake. She reported that the JSSE went to market and was able to raise an initial amount of $1.5 million for the organization.

The JSSE has raised just under $50 million for charities and special assistance appeals since its inception in 2019. A subsidiary of the JSE, it was created to mobilize resources in the social sector as well as to facilitate capacity building of stakeholders and overall development of the support ecosystem.

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