Managing Director of the Ghana Stock Exchange, Abena Amoah has highlighted the need for stakeholders within the financial space to put in place policies to empower the youth with financial literacy skills
According to Madam Abena Amoah, this will encourage them to develop interest in finance management and investment, a move which will support the growth of the capital market and impact economic development.
In a speech read on her behalf by the Head of Marketing & Public Relations at GSE, Jerry Boachie-Danquah at the launch of ‘Youth Investment Education’ campaign, she noted that, “The journey to embed financial literacy across the country is a very audacious one and we need the support of corporate Ghana to reach out to more of our youth to build a prosperous nation”.
On his part, Executive director of the Young Investors Network (YIN), Kofi Kyei Busia said he was optimistic that the call to promote financial literacy in the country’s youthful population will, in the long term, create a more financially secure future.
“When young individuals learn to allocate their resources wisely save for emergencies and invest for the long term, they create a strong foundation for their financial independence. We must collaborate to integrate financial education into our education system provide accessible resources and create a supportive environment for young individuals to learn and grow,” he said.
The ‘Youth Investment Education’ campaign is aimed at promoting interest in savings and investment amongst the youth, thus boosting financial literacy.
The youth investment programmes includes an investment educational tour to tertiary institutions aimed at educating the youth about savings and investment and introducing them to the operations of the capital market and its key operators like GSE, CSD, National Pensions Regulatory Authority (NPRA) and the various career options in the industry.
Also, there is the Stock Market Pitch Competition, which is aimed at creating a platform for students in tertiary institutions to learn how to make a business case for investors to invest in a particular company’s shares.
Students will also be engaged in a Capital Market Quiz. This is targeted at senior high schools to create awareness about activities of the capital market.
A member of the YIN advisory board Cloe Bowen revealed that life skill training to support young people will be added. These will begin with self-awareness, awareness of others, collaboration and leadership.
Additional modules will also cover confidence-building and practical skills for young entrepreneurs and aspiring Small and Medium Enterprises (SMEs) founders.
This year’s target is to reach out to over 10,000 students.