Multi-sector collaboration key to strengthening Ghana’s financial literacy framework - Awuah

John Awuah is the CEO of the Ghana Association of Banks. He is also an Advisory Board Member of the Center for Financial Literacy Education (CFLE). He emphasized the need for better collaboration among regulators and industry stakeholders. This collaboration aims to improve financial literacy in Ghana.

Awuah spoke at the 3rd National Financial Awareness and Financial Literacy Conference. This event was part of the Financial Literacy Month celebrations. He stressed that advancing financial education should be a shared responsibility. It should not be limited to one institution.

He said, “There is so much more we can achieve.” He hopes for deeper collaboration across sectors. While banks are contributing, broader involvement is needed. This includes electronic money issuers, telecom companies, and insurers.

The annual conference, hosted by CFLE, empowers individuals with essential financial knowledge. It particularly targets students to help them navigate finance complexities.

Peter Asare Nyarko, Executive Director of CFLE Africa, also spoke at the event. He noted that financial literacy goes beyond budgeting and saving. It serves as a catalyst for national development and helps reduce social vices.

Nyarko explained that if everyone is financially literate, social issues will decline. People often turn to crime due to a lack of financial understanding. It's not just about having money; it's about managing it wisely.

The conference theme was “Building Wealth, Changing Lives.” It focused on strengthening communities through personal and business financial education. The event discussed roles of regulators, financial institutions, and academia in promoting financial well-being.

Students, financial professionals, and civil society organizations attended the conference. They participated in panel discussions and workshops aimed at improving money management skills.

Organizers reaffirmed their commitment to expanding financial education initiatives for all demographics. They highlighted its importance in building resilient communities and a stronger economy.