The Ghana Stock Exchange (GSE) has partnered the Young Investors Network (YIN) and other industry players to launch a bouquet of investment education programmes for the youth as part of its objective to increase awareness and deepen financial literacy in the country.
The programmes which include an Investment Training Tour to selected Universities is aimed at promoting interest in savings and investment amongst the youth, thus boosting financial literacy.
Moreover, the programme is aimed at creating awareness about the Capital Market and also giving career guidance to students; a Stock Pitch Competition in which tertiary students are to recommend a listed company and give reasons why it is a viable investment option; and a Capital Market Quiz, which is an initiative to challenge senior high school students to increase their knowledge of savings and investment, activities on the capital market and entrepreneurship.
The Director of the Financial Sector Division of the Ministry of Finance, Sampson Akligoh, in a speech that was read on his behalf, stated that the program is timely as it will benefit students in their finances.
“Learning to earn, use and save money is viewed widely in higher-income countries as an important step to preparing the youth to become socially and financially competent adults, and it’s no different from our part of the world.”
Sampson Akligoh
Mr. Akligoh indicated that it was important for students to understand that being financially literate goes beyond the mere ownership of a bank account. “Knowledge of what goes into investment is as important as knowing the need for a bank account.”
A Key Opportunity to Support the Implementation of Pillar Two of Capital Market Master Plan
Paul Ababio, the Deputy Director-General of Finance at the Securities and Exchange Commission (SEC), on his part, stated that the programme represented a key opportunity to support the implementation of Pillar Two of the 10-year Capital Market Master Plan that seeks to expand the investor base by reaching out to more people.
“It also fits into the national financial inclusion and development strategy which aims to increase access to formal financial services from 58 per cent to 85 per cent of the adult population by 2023.”
Paul Ababio
Speaking on behalf of the Managing Director of GSE, Ekow Afedzie, the Head of Listing and New products of GSE, Joyce Esi Boakye averred that the participation of the youth in capital market activities and investment, in general, is still low in Ghana.
“It has therefore become imperative to develop a targeted investment education program with various partners to help embed a savings and investment culture among the youth.
“This will help improve their standard of living and bridge the financial literacy gap within the country. With investment education being a critical part of its strategic plan, the GSE is committed to supporting the roll-out of these programs and helping drive it to its intended goal.”
Ekow Afedzie
The President of YIN, Joshua Mensah noted that academic qualifications are important for the youth as well as financial education.
“They are both important, but the schools are forgetting one of them; that is financial literacy. We will not stop until the last Ghanaian youth is financially literate.”
Joshua Mensah
The Young Investors Network (YIN) is a financial education organization with a firm commitment to educating the youth on financial literacy and business skills with investment programs designed to support a favorable business climate.
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