Financial Awareness and Financial Literacy Advances in Ghana
Center for Financial Literacy Education – Africa (CFLE Africa), The International Improving Financial Awareness & Financial Literacy Association at University of Ghana Business School (The FA Association) and its partners have successfully completed a month-long financial awareness and financial literacy campaign dubbed Financial Literacy Month in Ghana which started on the 1st of April. An initiative of “The Improving Financial Awareness & Financial Literacy Movement in Ghana.”
The goals behind The Movement are to substantially improve financial awareness and financial literacy across all ages, incomes and demographic groups. The mission behind The Movement is to significantly help solve a major social problem by dealing with the lack of financial awareness along with the financial illiteracy epidemic.
CFLE Africa and The FA Association have taken an active leadership role to recognize ‘thought leaders’ and stakeholders that are and should be championing improving financial awareness and financial literacy. They are then uniting them with other associations, organizations, nonprofits, educational institutions, municipalities, employers and the news media to actively focus their vast community resources into The Movement and its concentrated personal finance content media blitz every six months through the strategic campaign venues;
•April being known as Financial Literacy Month, and six month later
•October being known as Estate & Gift Planning Awareness Month
The plan is to touch everyone – the general public, every women, man and child, rich or poor at least twice a year through these strategic venues, with educational and motivating materials and reminders to get and keep their financial house in order with a current financial, estate, and gift plans. Thus empowering The People to make informed lifelong financial decisions.
On the 31st of March, 2021; The Improving Financial Awareness & Financial Literacy Movement in Ghana was launched at a media press conference held at University of Ghana and hosted by CFLE Africa, The University of Ghana Business School, The FA Association, and The Financial Awareness Foundation (TFAF), and its partners including Axis Pension Trust, PALI Global, Pro Patria Ltd, High School Gh, and others strategic partners and stakeholders including reps from Bank of Ghana, Ministry of Finance, Ghana Association of Bankers, EDC Investments Limited, KPMG Ghana, the 13 Thought Leading News Media Organization, declaring April to be known as Financial Literacy Month in Ghana.
The Month was dedicated for financial awareness and financial literacy activities, and has been well celebrated with various virtual seminars, media campaigns and community outreaches. There were social media campaigns such as daily quotes by strategic partners, interviews and speaking engagements to address issues of finances and money management.
To climax the month-long activity, on the 30th of April, CFLE Africa, The FA Association in collaboration with National Commission for Civic Education (NCCE – La- Nkwantanang, Madina) embarked on a financial awareness and financial literacy community outreach at Madina Market Center, a team of about 40 volunteers engaged over 300 market women and men on financial awareness and financial education to help them get and keep their financial house in order.
Most market women shared that they have lost confidence in financial institutions and this has led to no savings, or if they do, they save in their homes.
The Movement addressed most of their concerns and advised them to get and keep their financial house in order.
Peter Kwadwo Asare Nyarko, the led for The Improving Financial Awareness and Financial Literacy Movement in Ghana and the Executive Director for CFLE Africa and Lead TFAF Ambassador believes financial awareness and financial literacy can help solve many social challenges while improving the quality of life for all Ghanaian’s and their businesses.
Speaking on TV3 New Day with Bela Mundi stated that, “most young people think creating wealth happens overnight, that’s not true. There are processes you have to go through. All the wealthy people we see around went through the process. I think we are not telling young people what they need to hear. We have to do something about it and get young people to start thinking.”
The maiden edition of Financial Literacy Month has been well received; a lot of quality financial information and thoughts have been shared with Ghanaians.
The Improving Financial Awareness and Financial Literacy Movement in Ghana in six months’ time will embark on its second semi-annual personal finance content media blitz around October being known as Gift and Estate Planning Awareness Month in Ghana. To learn more and how you can participate and benefit contact:
♦ Peter Kwadwo Asare Nyarko, Executive Director CFLE Africa,
Tel: + 233 27 855 3887, www.cfleafrica.org
♦ Dr. Benjamin Amoah, Patron Coordinator UGBS, +233 24 759 9606,
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