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Media Practitioners in Northern Ghana receive Financial Literacy Training organized by Ministry of Finance


Media Practitioners in the Northern of Ghana have received training on ‘Financial Literacy Education’. The three-day capacity building workshop was organized in Tamale by the Financial Sector Division of the Ministry of Finance.

Facilitated by Asamoah and Williams Consulting, and contracted by the Finance Sector Division of the Ministry of finance, the workshop brought together over 40 journalists from the northern part of the country, to provide consulting service to support the design of a National Financial Education Campaign under the Ghana Financial Sector Development Project (GFSDP) sponsored by the World Bank Group.

The assignment is to design and implement targeted financial education campaigns to empower consumers and improve their knowledge of the finance system in order to build their capabilities in making sound and responsible financial decision that promote and secure their financial interests.

 It also seeks to empower consumers with the requisite knowledge, attitudes, skills and behavior to manage their resources, and to assist them understand, select and use financial services that fit their needs.

Topics covered during the three- day capacity building training workshop include; financial sector clean-up and its emerging benefits, Efforts to sustain the gains from financial sector clean-up, critical role of pension in old age and essence of pension to the family, community and nation at large, and measures being put in a secure place investments of the citizens’ investments prevention of Ponzi.

 Executive Director, Transmedia Network, Charles Yao Mawusi in a presentation noted the training program is to equip selected journalists with the requisite skills to enable effective dissemination of the campaign’s key messages among the target audience.

He reiterated that the media as a gatekeeper of the public knowledge and information had a key role in information dissemination and awareness raising in every country.

Mr Mawusi however advised economics and financial journalists to be more responsible in their reportage on financial issues in order not to create unnecessary fear and panic in the financial market.  

On his part, Executive Director, Ghana Microfinance Institution Network, Yaw Gyamfi cautioned the general public against Ponzi schemes, which promised investors a doubling of their returns within a short period of investments.

Madam Stella Quartey from the National Pensions Regulatory Authority (NPRA), took participants through some critical roles of pension to the family, community and the nation at large. She advised Ghanaians to cultivate the habit of contributing towards the future.

According to her the NPRA has created the room for both formal and informal sector workers to contribute.

Head of Public Relations, National Insurance Commission Mawuli Zogbenu educated journalists on the role of the National Insurance Commission (NIC) and the impact of insurance on individuals, and the country at large.

He says the functions of the NIC is to ensure effective administration, supervision, regulation, monitoring and control of the business of insurance, to protect insurance policyholders and the insurance industry.

He admonished all to take insurance education seriously as it is the surest way to ensuring that people willingly purchase insurance and not cajoled into doing so.

 Participants also used the opportunity to ask questions on the financial clean-up, pension contributions, Insurance among others.

Source: D. Walter/ Tamale

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