Kumasi: The launch of the National Virtual Assets Literacy Initiative (NaVALI) is anticipated to be a major catalyst for economic transformation on both national and global scales, according to Professor Humphrey Danso, Dean of the School of Graduate Studies at the University of Skill Training and Entrepreneurial Development (USTED). Prof. Danso highlighted that the initiative is poised to usher the country into an era of responsible innovation while enhancing consumer protection, financial integrity, and public confidence.
According to Ghana News Agency, Prof. Danso made these remarks during the Ashanti regional launch of NaVALI, which took place at USTED. The event, jointly organized by the Bank of Ghana (BOG) and the Securities and Exchange Commission, Ghana, was themed 'Understand before You Undertake.' The launch aims to boost awareness about the risks associated with virtual assets, promote informed and lawful participation, encourage dealings through licensed channels, and safeguard against financial deception.
Prof. Danso emphasized that NaVALI will transform how individuals save, transact, invest, trade, innovate, and conduct business across borders. He asserted that the initiative will equip Ghanaians with the necessary knowledge to make informed decisions in an increasingly digital financial landscape. "If you choose not to participate, that decision should be based on understanding rather than misunderstanding," he remarked.
He further noted that universities have a responsibility not only to produce graduates but also digitally responsible citizens. "We must produce professionals capable of leading Ghana through the fourth industrial revolution with competence and responsibility," Prof. Danso added. He also highlighted the impact of financial technology in reshaping various sectors, including banking, payments, insurance, agriculture logistics, and manufacturing, and expressed hope that students would be well-prepared to navigate this rapidly evolving world.
Mr. Owureku Asare, Director of the Fintech and Innovation Department at the Bank of Ghana, described NaVALI as a landmark program illustrating Ghana's commitment to a responsible and forward-thinking approach to the regulation and use of virtual assets. He emphasized that legislation alone is insufficient; citizens must also understand the environment in which they are expected to participate.
Mr. Asare noted that the NaVALI launch would empower students, entrepreneurs, and businesses to drive economic change in the next generation and promote education and awareness. He urged Ghanaians to support the effective policy development of the program and highlighted NaVALI's role in ensuring a resilient financial ecosystem with informed participants.
Mr. Mensah Thompson, Deputy Director of the Securities and Exchange Commission, Ghana, pointed out that virtual assets require trust and accountability due to their instantaneous nature. He stressed the importance of informed decision-making to mitigate unnecessary risks and ensure transparency in a well-regulated manner. A well-regulated virtual sector, according to Mr. Thompson, could create opportunities for decent, high-value jobs and deepen the country's capital market. He also called on traditional authorities and community leaders to support the initiative.