Takoradi: The Bank of Ghana (BoG) has initiated a financial literacy programme targeting senior high schools in the Western Region. This effort aims to equip students with essential financial knowledge and skills to help them make informed decisions and achieve financial independence.
According to Ghana Web, Godfred Cudjoe, the Head of the Credit Reporting Unit at the Financial Stability Department of BoG, stated that the initiative is designed to instill sound financial habits in students early on. The goal is to enable them to manage their finances effectively and share this knowledge with their families. Cudjoe emphasized the importance of engaging students in understanding financial concepts, which in turn would aid their financial independence and assist their parents in making informed financial decisions.
The programme is being implemented in selected senior high schools, including Archbishop Porter Girls' Senior High School, Adiembra Senior High School, and Mpohor Senior High School. The financial literacy sessions cover a range of topics such as responsible savings and investment practices, identifying BoG-licensed financial institutions, safeguarding personal bank accounts, recognizing signs of financial fraud, and understanding consumer complaint procedures. Additionally, students are taught how to handle the Ghana cedi properly and identify the security features on currency notes to detect counterfeits.
At Archbishop Porter Girls' Senior High School in Takoradi, students actively engaged in interactive sessions. Facilitators discussed banking services, consumer rights and responsibilities, and the role of the Bank of Ghana in regulating financial institutions and maintaining monetary stability. Participants found the programme insightful, particularly appreciating the emphasis on protecting personal banking information from fraudsters.
Teachers also benefited from the programme by receiving financial literacy lessons to enhance their understanding of responsible financial management. This knowledge enables them to make informed decisions in their personal financial transactions.
The Bank of Ghana states that this campaign is part of a broader effort to promote financial inclusion and deepen financial literacy among young people and the wider public. The initiative represents a significant step towards equipping the youth with financial tools necessary for their future.