The Young Investor Network (YIN) is set to train some 250,000 young persons in financial literacy in selected schools and locations in six regions through a financial education campaign dubbed “train a trainer” between March 12 – 18, 2018.
The campaign forms part of series of activities commemorating the 2018 Global Money Week in Ghana under the theme, “Money Matters Matter” and will train an initial 3000 persons with each expected to train about 100 persons.
Executive Director of YIN, Joshua Mensah, who disclosed this at a media launch of the Week, bemoaned the lack of interest of state actors in increasing financial literacy among the population leaving the work to non-governmental organisations (NGOs) to address the challenge.
“If you look at countries like Nigeria, Bangladesh and the rest, you realise that the stakeholders are the government, but in Ghana it is only the NGOs who are advocating for financial literacy.”
He said other countries are serious about financial literacy alluding to Germany which funds projects in this area to a tune of US$80million and called on relevant stakeholders to join the advocacy.
Currently, less than one percent of all children in the world have access to financial education and financial inclusion, and one billion children live in poverty. Financial illiteracy results in many young people struggling with large amounts of debt, which results in negative repercussions on their development and well-being.
With financial access and financial education, children and youth can learn to save and spend money responsibly.
Dr Prince Abbey, Executive Director, Pessewa Global, who chaired the launch expressed dissatisfaction at the level of financial literacy in the country and called for a mental reorientation.
“We are going to do something with the Global Money Week that will significantly change Ghana”, he stressed.
Ghana joins 136 Countries around the world to raise awareness of the importance of financial education and financial inclusion for children and youth, with the overall coordination of Global Money Week 2018 being led by Child &Youth Finance International (CYFI), a non-profit organization based in Amsterdam.
This global movement strives to provide financial education and financial inclusion to all children and youth, and has already gathered the support of some of the most prominent leaders and organizations across the world, including the Secretary-General of the UN, Ban-Ki Moon.
By Godfred Tawiah Gogo