Department of Finance holds Financial Literacy Experience Sharing Seminar
The University of Ghana Business School Strategic Plan Implementation Committee organised a one-day seminar for Financial Market Regulators on Financial Literacy Experience Sharing. The seminar was held on January 18, 2024, at the University of Ghana Business School Graduate Campus. The Seminar drew participants including regulators of the financial market in Ghana and some financial market private sector players. The financial market regulators at the seminar were the Bank of Ghana, the Securities and Exchange Commission Ghana, the National Pensions Regulatory Authority, and the National Insurance Commission. Representatives from other entities, such as the Microfinance Institutions Network and the Ghana Deposit Protection Corporation were also present.
Prof Obi Berko, the Chairman of the UGBS Strategic Plan Implementation Committee, explained that the 8th pillar of the University of Ghana Business School was dedicated to community engagement including financial literacy. Prof Emmanuel Sarpong-Kumankoma, the Head of the Department of Finance, briefed the participants on previous finance seminars and surveys. He further urged participants to actively promote financial literacy and called on financial market regulators to collaborate with the UGBS in financial literacy.
The seminar continued with a presentation by stakeholders on their financial literacy experiences. The representatives also presented their financial literacy strategies and their challenges and proposed how they intended to overcome them.
Taking his turn, Dr. Benjamin Amoah, Senior Lecturer in the Department of Finance at UGBS, and a member of the UGBS Strategic Plan Implementation Committee, presented the UGBS National Financing Literacy Strategy. He emphasised achieving nationwide financial literacy through collaborative efforts and gains to the economy if the goal is achieved. He further added that financial literacy should be seen as a public good and called on government and non-governmental organisations to engage in financial literacy campaigns to raise awareness.
There were presentations from the Bank of Ghana, the Securities and Exchange Commission Ghana, the National Insurance Commission, and the National Pension and Regulatory Authority.