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

The Chief Executive Officer of the Ghana Association of Banks and Advisory Board Member of the Center for Financial Literacy Education (CFLE), John Awuah, has emphasized the need for stronger collaboration among regulators and industry stakeholders to enhance financial literacy across the country.

Speaking at the 3rd National Financial Awareness and Financial Literacy Conference, held as part of the Financial Literacy Month celebrations, Mr. Awuah stressed that advancing financial education should be a shared responsibility, not limited to a single institution.

“There is so much more we can achieve. We’re hoping to see deeper collaboration across sectors. While banks are playing their part, we need broader involvement — from electronic money issuers, telecom companies, insurers, and more — to truly expand our reach,” he said.

The annual conference, hosted by CFLE, aims to empower individuals, particularly students, with essential financial knowledge to help them navigate the complexities of the financial sector.

Also addressing the gathering, Executive Director of CFLE Africa, Peter Asare Nyarko, highlighted that financial literacy extends beyond basic budgeting and saving. He described it as a catalyst for national development and a deterrent to social vices.

“If we are all financially literate, social ills will decline. People often resort to crime not out of greed, but from lack of financial understanding. It’s not just about having money — it’s about managing what you have and living within your means,” Mr. Nyarko explained.

Held under the theme “Building Wealth, Changing Lives: Strengthening Communities Through Personal and Business Financial Education,” the event explored the roles of regulators, financial institutions, and academia in fostering financial well-being.

The conference brought together students, financial professionals, and civil society organizations for panel discussions and workshops aimed at improving money management skills and promoting financial inclusion.

Organizers reaffirmed their commitment to expanding financial education initiatives across all demographics, underlining its importance in building resilient communities and a stronger economy.

Source: myjoyonline.com