The Managing Director of the Ghana Stock Exchange, Abena Amoah, has said the country’s development hinges on a strong capital market and an investment-savvy population, hence programmes that will fuel them must be encouraged.
Speaking at the finals of the Young Investors Network (YIN) and GSE 2022 Stock Pitch Competition in Accra, Mrs. Amoah noted that, the nature of the current environment in the country calls for the urgent need and significance of having more programs that enhance investor education.
“Studies have shown that, participation in capital markets is one of the leading indicators of future financial stability and the single greatest predictor of intergenerational wealth.
“That is why as an Exchange and a key player in Ghana’s capital and investment markets, investment education is one of our key strategic pillars. The current environment in Ghana highlights the importance and urgency of having more of today’s program and to enhance investor education.”Mrs. Abena Amoah
According to her, investment education particularly for the youth is of great impact, as individuals at an early age who get to have much knowledge about it get to know the need for it, and as well develop the habit for it.
“Our passion for this youth investment educational program emanates from our belief that investment ownership, particularly at an early age, can be transformative for our youth’s financial health in the future. Higher levels of investment confidence are strongly correlated to wiser financial decisions in later life.”Mrs. Abena Amoah
Mrs. Amoah further disclosed that, as part of implementing Ghana’s 10-Year Capital Market Master Plan, Ghana Stock Exchange is working with all stakeholders to ensure investment education and financial literacy become a formal part of the curriculum in all schools. One is never too young or old to learn about investing, she added.
The Stock Pitch Competition for 2022
The 2022 Stock Pitch Competition was organized with the aim of enhancing young people’s understanding of the financial market. Three group of students; Euleria Rose Chiutsi, Prince Asamoah Owusu and Enoch Appiah Kubi emerged as winners for the competition.
They won a prize of GHȼ12,980 and a full scholarship with the Ghana Investment and Securities Institute (GISI) Limited of the Ghana Stock Exchange.
Augustine Hagan Kussi of KNUST and Caleb Kwesi Mongson of the University of Cape Coast (UCC) came in second place, with Eugene Elikem Agbo of University of Professional Studies, Accra (UPSA) and Samuel Kwabla Morkli of the Ghana Institute of Management and Public Administration (GIMPA) taking the third position
According to the president of the Young Investors Network (YIN), Joshua Mensah, the winners will receive over GHȼ6,000 worth of shares of their choice.
“The competition revealed their success and effort in training the students on financial literacy. While we have trained over 8,000 students this year, we are hoping to train more in 2023.”Joshua Mensah