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North Americans think of a Panama foundation as a vehicle for maintaining the privacy of their financial assets. However, there are also charitable foundations in Panama. Fundacion Calicanto is a non government organization devoted to improving the lives of people living in Panama’s old city, Casco Antiguo, also known as Casco Viejo or San Felipe.

The old saying goes, “Give man a fish and he will eat for a day. Teach a man to fish and he will feed himself for a lifetime.” Fundacion Calicanto does the later except they teach job skills other than fishing. An October 28, 2008 press release notes that CAPTA (Capacitación para el Trabajo), a community program run by Fundacion Calicanto, trains women in Casco Antiguo in the skills needed for hotel work.

According to the press release Fundacion Calicanto’s CAPTA has already trained 60 women and their program is growing.  The manager of one of Casco Antiguo’s hotels credits the program with improving a staff with a bad attitude and no initiative. According to the manager the same workers are much more positive, are proactive, and much more polite to guests.

A representative of CAPTA and Fundacion Calicanto states that much of the improvement has to do with changing attitudes and beliefs. Casco Antiguo has seen some pretty bad times and has been poverty stricken for years. The infusion of reconstruction monies in response to government incentives has provided jobs. Programs like CAPTA from Fundacion Calicanto have provided concrete skills but more importantly provided a vision of a better life and how to get there. The news release gives an example of a woman with four children and no hope who now has a steady job and hopes to learn English and move on to a better job.

Enlightened Self Interest in Panama

A number of the board members of Fundacion Calicanto are Panama business people in Casco Antiguo. These people are capitalists interested in making money from their investments. In this case a small investment in time and money is reaping rewards for the business community as its workforce becomes more motivated and knowledgeable. A walk through Casco Antiguo reminds one of Old Havana, Cartagena, or New Orleans before Katrina with the surviving Spanish colonial architecture. There are renovated buildings next to centuries old survivors. Likewise there is a local culture that has survived Panama’s rush into the 21st century. One hopes that with the restoration in Casco Antiguo that foundations like Fundacion Calicanto help the local community make the transition to a more prosperous neighborhood and that Casco Antiguo retains its Spanish colonial flavor.

If you are interested in the real estate investment opportunities provided by Panama law for Casco Antiguo come to see us at ABPanama. We have over twenty-three years experience managing real estate portfolios and would love to help you restore a piece of Panama’s colonial past in Casco Antiguo.