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Financial Literacy Training Part of Relocation Process for Bananes Bay Residents

Friday, Jun 13

T

o help these residents, particularly fisherfolk, make wise use of the compensation they are receiving, the Saint Lucia Air and Sea Ports Authority (SLASPA), in partnership with the Bank of Saint Lucia, hosted a dedicated financial literacy workshop last week.

The initiative is part of SLASPA’s commitment to ensuring that the relocation process is not only fair but empowering for the individuals and families affected.

“Understanding that this is a life-transformative part of your journey, we at SLASPA wanted to be your partners in more than just the logistics,” said SLASPA Senior Manager, Karim Sifflet. “We saw it fitting to collaborate with the Bank of Saint Lucia, an institution equally committed to social responsibility. This knowledge you gain here today—no one can take that from you.”

During the workshop, participants received comprehensive guidance on a range of financial topics, ranging from budgeting and saving to investment and risk management.

We covered the importance of saving, budgeting, investing, and even the red flags of financial scams. We also emphasized the value of life planning, creating wills, setting up power of attorney, and establishing good financial habits,” explained Shaiide Kallicharan, Acting General Manager of the Bank of Saint Lucia Fund Management Company.

The workshop comes as part of SLASPA’s broader social corporate responsibility efforts. Community Liaison Officer Tara Leonard-Emmanuel emphasised that their role goes beyond infrastructure development.

“Even though you have received money, it’s critical to understand how to make that money work for you,” she said. “Our responsibility is not just to build a modern cruise port or a new fisherman’s village. It’s to ensure that the people impacted by this change are given the tools to build a brighter future, for themselves and their families.”

Despite some opposition to the relocation, many residents have begun to embrace this new phase, seeing it as an opportunity to reset, grow, and thrive. The financial literacy training marks a significant step in helping them transition successfully into that future.