DBS Foundation and SG Enable have announced a strategic partnership to equip persons with disabilities with financial and digital literacy skills, so as to enable them live more independently and have greater access to economic and social opportunities.
According to a joint press release by the two entities, DBS Foundation will contribute about S$1 million to the flagship initiative which will begin in 2024.
The aim of the initiative is reach some 6,500 persons with disabilities and caregivers over three years.
The partnership is the first of its kind, with DBS Foundation being the first corporate entity to partner the disability sector to upskill persons with disabilities on a national scale, the press release added.
Partnership launch attended by President Tharman
The partnership's launch took place at the Enabling Village on Nov. 21, and was graced by President Tharman Shanmugaratnam and his wife Jane Ittogi.
The event also saw the hosting of a workshop that was attended by four persons with disabilities and their caregivers.
The attendees, aged between 20 and 35 years, have different disabilities such as cerebral palsy, Down Syndrome, and autism.
The workshop guided them through key financial concepts such as budgeting and saving.
President Tharman and his wife also spoke to the participants to better understand the challenges that they faced.
80 per cent of people with disabilities surveyed said that existing training programmes do not cover financial and digital literacy
According to focus groups held by SG Enable, 80 per cent of persons with disabilities surveyed said that digital and financial literacy skills, which are essential for daily living, are not covered in existing training programmes.
In addition, over 50 per cent of persons with disabilities and their caregivers who attended SG Enable’s inaugural Enabling Academy Learning Festival in August 2023 expressed interest to learn about topics such as the concept of money and savings, cashless payments, and digital banking.
The press release also cited the Ministry of Social and Family Development's (MSF) Enabling Masterplan 2030, which stated that the number of students reported to have special education needs in Singapore rose by 5 per cent from 2021 to 2023.
The masterplan noted that Singapore faces an ageing population, including 40 per cent of adults with disabilities who will be 65 years or older by 2030.
All of these has made the need to address such "knowledge gaps" related to digital and financial literacy among persons with disabilities increasingly crucial.
A customised learning roadmap aligned with the Enabling Masterplan 2030
The partnership will therefore entail the development of a customised learning roadmap catered to learnings needs such as autism, intellectual disabilities, physical disabilities, and sensory disabilities.
This roadmap will cover a wide range of topics ranging from basic financial concepts such as budgeting, money management and insurance, to the application of these concepts in online in areas such as digital banking, online security, and scam awareness, among others.
One such area that will be covered is scenario planning which aims to explore the long-term financial security of persons in disabilities in the event of their caregiver's passing, so as to ensure necessary precautions are made for the future.
The partnership will also encourage caregivers to attend the workshop alongside their wards in recognition of how the caregivers themselves may not be financially or digitally literate.
Learning will be conducted via a variety of channels, including through the means of holding workshops at where persons with disabilities and their caregivers live and work at, and making available self-directed learning through e-modules.
Learning formats will also incorporate virtual reality, interactive games and more, to make the process "more engaging and fun".
Both DBS Foundation and SG Enable will also work on developing resource guides, toolkits and course materials for trainers, caregivers, special education schools and others, to equip them with the know-how to support persons with disabilities in their education.
Top image via Mothership