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News from Sunday, February 3, 2019
Source: ghananewsagency.org
2019-02-03
The Organization is working to deepen the financial literacy of young people
The Young Investor Network (YIN), a non-governmental organization dedicated to deepening youth financial literacy, called on financial regulators to support its efforts to provide youth with the financial education required.
In an interview with the Ghana News Agency, Joshua Mensah, president of YIN, said the network has trained more than 100,000 youth since its inception in 2010 and hoped to train about one million this year.
He said that current events in the financial sector, where fraudsters have taken advantage of their weaknesses, have made it necessary to train more people with specific financial skills to improve the fate of the sector.
He called on regulators to support the activities of the network, which already has a closer relationship with young people in secondary and tertiary institutions, to deepen their knowledge of the financial sector.
Mr Mensah said that although the Committee on Security and Trade has given considerable support to the network, the other regulators have not collaborated sufficiently in the financial education program.
"We call on other regulators and the National Insurance Commission, the Bank of Ghana and the National Pension Regulatory Authority to help us promote financial literacy in the system, as many Ghanaians have no more confidence in the system, "he said.
Mr Mensah said that if confidence was broken in the banking sector, it would have a negative impact on the financial sector.
Kofi Busia Kyei, executive director of YIN, said the network had tried to reach regulators to provide technical and financial support, but "it seems like the answer has been a bit slow."
"So we want them [the Regulators] respond to us because young people need to come and help us, otherwise the future of the financial sector of this country would be bleak. "
"This year, we are embarking on a number of financial literacy education activities. We therefore call on regulators to help provide many people with financial knowledge to make the right decisions.
Mr. Kyei said that the first of its schedule is Global Money Week, which would focus on promoting financial education, followed by the Young Investor Challenge, devoted to promoting financial education on the market. stock market.
"Through the observation of Global Money Week, we wish to train more than one million people, giving them a lot of financial literacy education."
He called for support to enable YIN to extend its financial knowledge to 10 regions of the country.
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