The International Improving Financial Awareness & Literacy Association, University of Ghana Chapter (The FA Association), held its 2023 Business Skills Transfer Edition under its Financial Awareness Literacy Campaign on February 24, 2023. The event was held at the University of Ghana Business School (UGBS) Graduate Building and was on the theme "Equipping the Youth with the Right Financial Capability for Right Personal Financial Decisions Tomorrow."
In his opening remarks, Dr. Benjamin Amoah, the Coordinator of the FA Association and a Senior Lecturer in the Department of Finance at UGBS stressed on the importance of developing an entrepreneurial mindset. He added that developing such a mindset goes a long way to helping one to be independent and successful in all aspects of life. With a video aid, Dr. Amoah briefed the participants on the value chain concept and its implication in identifying business opportunities.
In a brief presentation, Mr. Henry Duah, a Research Analyst from “The Room” gave a detailed analysis of excel financial modeling. He mentioned that financial modeling is the process of compiling a company's costs and profits into a spreadsheet that can be used to estimate the impact of a business decision on the firm’s financial performance as part of the business forecasting tools. He pointed out that financial modeling is applied in making business decisions in a company, making investment decisions in a private or public organisation, pricing financial assets such as stocks, evaluating corporate transactions such as mergers and acquisitions and in personal financial decisions. He further explained the Soft Skills needed for building financial models such as problem-solving, critical thinking and evaluation, adaptability, and verbal communication. He continued by discussing the steps involved in creating financial models and the qualities of a successful financial model.
Consequently, the participants were taken through practical hands-on skills transfer, Miss Patience Apalangya, CEO of Skills Hub took the students through the process of preparing liquid soaps.
Also present was Miss Aishetu Haruna, CEO of Unamal’s Glam, a makeup artist who taught the participants about applying makeup.
There was also training by Miss Olivia Asidua, CEO of Violet, a manicurist who demonstrated to the participants individual nail dressing. The event ended with a question-and-answer session followed by networking among the participants.
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