Governor of the Central Bank of Barbados Dr Kevin Greenidge has underscored the importance of financial independence for women.
Speaking to participants in the Business and Professional Women’s Club Financial Literacy Course recently, he stressed that empowerment is not simply about money, but about confidence, independence, and creating options for oneself and one’s family.
In his presentation, Greenidge pointed out that when women are financially empowered, the benefits extend beyond individuals to entire communities, improving opportunities for children, strengthening businesses, and contributing to economic growth.
He outlined practical steps such as budgeting, building emergency savings, and distinguishing between wealth-building debt, like a mortgage, and wealth-draining debt, like high-interest credit cards.
The Governor also highlighted investment opportunities, including Government’s BOSS Plus bonds, which offer higher returns than traditional savings accounts. He cautioned against lifestyle inflation, urging women to maintain steady spending as their income grows in order to accelerate wealth-building.
With BiMPay, the Bank’s new instant payment system launching in 2026, Greenidge pointed out that money will move in real time, bringing real empowerment for women running small businesses, parents paying school fees, and families receiving government transfers.
He, however, reminded participants that they would still need discipline and budgeting to make it work for them.
Greenidge further advised participants to remain vigilant against fraudulent schemes and to remember that the most valuable investment is in themselves – their skills, knowledge, and confidence.
He encouraged women to view wealth as a mindset and to take deliberate steps toward defining and achieving their personal financial goals. (PR)
