Around 10 million Filipinos live and work overseas-- seafarers, nurses, caregivers, hotel staff, construction workers, oil field personnel and many more-- help drive the Philippine economy through remittances they send back home. Considered the world’s fourth largest recipient of remittances next to India, China and Mexico, OFW remittances account for about 9% of the country’s gross domestic product (GDP).
However, given the ongoing pandemic, our modern day heroes find themselves stricken by employment challenges. This is why financial literacy is crucial to secure their future and retirement.
GCash, the country’s number one mobile wallet in the Philippines, seeks to impart knowledge on responsible remittance spending, and income management through the Globe GoLearn Program. GCash has lined up lessons on financial literacy to assist OFWs in goal planning and guide them in their journey towards financial stability.
“We, at GCash, want to thank you for everything you’ve done for the country and how you contribute to the economy. But beyond these, we recognize how much each of you has sacrificed to provide better lives for your families and how you help them achieve their dreams. To honor the everyday sacrifices that you make, we want to let you know how GCash can make your lives a bit easier in return,” said Martha Sazon, GCash President and CEO, during the Alagang GCash webinar with OFWs and their dependents held on 10 September 2021.
GCash enables OFWs to have an easy and convenient way to send money, pay bills, save, secure loans, invest in bonds and stocks, and even get health insurance all in one platform and in the safety of their homes.
One of the OFWs who graced the activity was Jelmar Angel Orig. He’s an executive secretary working in Saudi Arabia for the past 13 years and doubles as a makeup artist and standup comedian during weekends.
Being the eldest of seven children, Orig supports the studies of his three siblings and GCash has been his partner in ensuring that they receive the much-needed funds safely and conveniently. “Nagpapadala ako sa kanila buwan-buwan using online remittance and gamit na gamit ko ang GCash kasi may mga emergency needs ang mga kapatid ko. Real-time nila natatanggap ang padala,” he said.
The webinar is part of GoLearn, Globe's multi-wide platform for lifelong learners who aspire to further enrich their education through digital solutions and innovative technologies available. GoLearn advocates continuous learning for everyone, and bridges the digital gaps in the education landscape in the country by providing affordable connectivity, accessible platforms, and safe learning environment.
The initiative is supported by Senator Joel Villanueva, Chairman of Senate Committee on Labor, Employment, & Human Resources, and the author of Senate Bill 2234 or the Department of Migrant Workers and Overseas Filipinos Act. Sen. Villanueva, also known as TESDAman, has been a champion of digital learning and OFWs since his stint as TESDA Secretary. Under his leadership, the TESDA Online Program (TOP) was launched. TOP offers free online courses such as Computer Systems Servicing, Food Processing, Bread and Pastry, Housekeeping, and other courses from sectors such as automotive, agriculture, entrepreneurship, healthcare, among others.
During the webinar, Sen. Villanueva pointed out the importance of financial literacy for OFWs and their dependents so they can maximize the money that they earn through savings and investments. Thus, the need for financial solutions and digital platforms to encourage them to learn.
“I believe this is where GoLearn can come in -- to provide our OFWs with the opportunities for lifelong learning through digital technology wherever they may be. We need to invest in intellectual capital. Walang lugi pag nag-invest ka sa sarili mong pag-iisip, skills, at potentials. Hindi mawawalan ng trabaho at opportunities ang mga Pinoy na maraming alam,” he said.
TESDA has also strengthened their initiatives in upskilling for repatriated OFWs through the TESDA Abot Lahat ang OFWs during the pandemic. Both programs are supported by Globe through zero-rating of TOP (https://e-tesda.gov.ph/) and providing communications support for TESDA to reach more OFWs to promote upskilling courses.
Veteran journalist and news anchor Korina Sanchez hosted the virtual webinar, featuring GCash executives Jong Layug and Jules Abalos from GCash’s Wealth Management and International Remittance Groups, respectively. They were joined by Overseas Workers Welfare Administration (OWWA) Administrator Atty. Hans Leo Cacdac in the panel discussion.
During the event, GCash likewise announced the winners of its recently concluded “Sino ang OFW Bayani Mo” contest, where beneficiaries who claimed their Moneygram remittances via GCash, had the chance to win P50,000 for their OFW Bayani by simply posting a short testimonial about their OFW Bayani and their photo on Facebook. Three OFWs, Lorenz Santayana, Juhaima Ali and Lia Cauna were declared as the OFW Bayani winners. To see more of the event, please visit: https://youtu.be/-xK77V87-bo.
Globe supports the United Nations Sustainable Development Goal No. 4, which promotes quality education. It is committed to upholding the United Nations Global Compact Principles and contributing to 10 UN SDGs.
For more information about Globe, visit www.globe.com.ph. For GCash, go to https://www.gcash.com.