Women in Forex Ghana under the initiative, Elevate Ghana forex project- the 1st digital finance project in Ghana and Africa, is partnering with Koforidua Technical University to train Tertiary Student Union in the Digital Finance market and analytical skills.
In all, Women in Forex Ghana is poised to train 10,000 tertiary students by 2030. The Digital Finance market is a skill very relevant in this current economic recessionary times to help curb the burdening unemployment situation in the country.
The population of Sub Saharan Africa is projected to double by 2050 by the United Nations and currently, 60% of the population is under the age of 25, making Africa the world’s youngest continent. The burgeoning youth population is both an opportunity and a challenge for the continent.
Internet, digital penetration, and engagements of African youth increased from 24.4% in 2018 to 90% in 2020 indicated by ITU Digital world (Child Online Protection Organization), but most of the activities online by the youth are not very productive even though great career and financial opportunities abound online.
Such a high number of young people is an opportunity for the continent’s growth but only if these new generations are fully empowered and trained to realise their best potentials. It’s important the youth are included in decision-making and given appreciable opportunities to work, training, and to innovate.
The United Nations estimates 16 million young Africans are facing unemployment challenges. On average, 11million young people join the African Labour market each year yet the continent generates only 3.7 million jobs annually- a gap too wide to be ignored.
It is in this light that, Miss Abigail Asor, Women’s Commissioner, Koforidua Technical University, initiated talks on partnership with her University and the Ghana Union of Technical University to spearhead a digital finance literacy campaign for all tertiary students.
This proposal aligns with the special objectives of the Elevate Ghana Forex project and as such, the organisation is preparing under this partnership to train 500 students across the 16 regions in 2023.
Women in Forex Ghana collaborated with the women commission’s office of the Koforidua Technical University to train over 100 students amidst pageantry organisations to bring confidence in the female students as they learn new skills on the financial market.
The team reciprocated these free trainings in 6 Universities: the University of Ghana, Catholic University, the University of Energy and Resources, Koforidua Technical University, Maritime University, and the University of Cape Coast along the 5 regions (Central, Eastern, Bono, Ahafo and Greater Accra).
As part of its corporate social responsibilities, Women in Forex Ghana has trained 1,000 students and youth freely under the Elevate Ghana Forex project this year, 2022 and plans to replicate this feat till 2030 to cater for the Project’s target of 10,000 trainees.
The CEO, Miss Gifty Annor Sika Asantewah emphasised that such collaboration and partnership should be encouraged with the society to help curb unemployment.
The capital market especially the foreign exchange market is the most liquid market on earth. The Global Gross Domestic Product (GDP) of forex market in 2019 amounted to roughly 142 trillion Dollars with the entire worth of the market standing at $2.4quadrillion with over 170 currencies been traded reported by Bank of international settlement.
The IMARC group predicts a compound annual growth rate of 6% for the forex industry in the next 5years.
The industry is green in Africa especially Ghana which is the more reason why there is the need to study and train to bridge the educational and capacity gap in hope for future opportunities.
The organisation through its campus and regional tours has freely trained 1,000 this year as part of its corporate social responsibility.
The goal of this partnership is to adequately equip the youth with a skill set that is relevant in this pandemic era for a better livelihood, gear the youth toward productive online engagements and reduce cybercrime and help government’s policy to reduce unemployment.