Financial literacy is key to capital market growth – GSE

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Abena Amoah, Deputy Managing Director of the Ghana Stock Exchange

The future and growth of the capital market and the economy as a whole, according to the Ghana Stock Exchange (GSE) and the Young Investors Network (YIN), requires stepping up the financial education of the country’s youth.

To this end, the duo has launched educational investment programs for young people to ensure financial literacy among young people.

Programs include an educational investment tour of higher education institutions, aimed at educating students about saving and investing and introducing them to capital market operations and its main operators, as well as to various career options in the industry.

It will also run a stock pitch competition, which will see participants turn an investment idea into a stock by recommending to investors why they should invest in a particular stock, based on the results of their research.

Third, a capital market quiz for high school students to educate students about capital market activities and spark their interest in investment and entrepreneurship.

Speaking at the virtual launch, the Head of Listing at the Ghana Stock Exchange, Joyce Esi Boakye, noted that the GSE will further leverage its digital platforms and the expertise of its partners to introduce learning tools. and educational investment programs for young people.

“Our interest in these youth investment education programs stems from the fact that we need to intensify financial literacy in order to develop the next generation of investors to support capital market growth and national economic development. .

“Young people, who are the future leaders, must understand the intermediary role that financial markets play in transferring surplus funds to deficit fund units in order to make funds available to individuals, institutions and governments. for them to grow and grow to support the national economy,” she said. .

For his part, YIN Executive Director Kofi Busia Kyei reiterated that for the country to achieve a comprehensive economic transformation, young people must be guided in the essential details of what the financial market is all about.

He believes this will guide them to make informed investment decisions which will prevent them from falling prey to Ponzi schemes.

“These young people will grow up to be business owners and apply best practices in corporate governance. Their only source of financing to develop their business will be through the capital market through stocks and bonds.

“This will increase corporate profits, which will help improve government tax revenue, improve the employment situation in the country and improve the livelihoods of all people,” he said. he declares.

The Securities and Exchange Commission’s deputy chief financial officer, Paul Ababio, said that with the country’s young population and its zeal to promote entrepreneurship, financial education must be a priority.

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