International Network on Financial Education
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By country: Ghana
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Government programmes
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Financial Literacy Week, Ministry of Finance and Economic Planning
This event, Ghana's first Financial Literacy Week, was organised primarily by the country's Finance Ministry and aims to teach the people of Ghana how to deal with personal finances. Under the banner "Knowledge is Money" numerous different workshops were organised, along with informative broadcasts on national radio and television as well as a National Senior High School Quiz on financial literacy and a public forum. Experts from the Finance Ministry, the Bank of Ghana, the country's Securities and Exchange Commission and the Ghana Insurers Association were on hand to answer the audience's questions at the forum. Five hundred volunteers distributed leaflets, pocket guides and posters bearing information on saving schemes, loans, investments and insurance. The materials were designed and printed with the support of the GTZ Sustainable Economic Development Programme, acting on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), in conjunction with the American development agency USAID and the Danish agency DANIDA. Ghana's largest daily newspaper also printed a 12-page special on financial literacy.
The event is in response to Recommendation 98 of the Financial Sector Strategic Plan (FINSSP) which requires the Regulatory Agencies and the Ministry of Finance to launch an annual Financial Literacy Week in co-operation with industry associations and financial institutions to raise the awareness of the range of products and services available to consumers to help them better understand and manage their finances.
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Financial Capability and Consumer Protection in Ghana
The Government of Ghana, together with the Ghana Microfinance Institutions Network (GHAMFIN), will hold a one-day Pre-Conference on "Promoting Financial Capability and Consumer Protection in Ghana" on 7 September 2009.
Over the past 2 years, Financial Literacy Road Shows have been carried out in all 10 regions of Ghana, easy-to-understand educational materials has been developed and distributed, high school quizzes have been organized, and radio programs on saving and responsible borrowing as well as TV sitcoms on insurance have been aired. All activities culminate in the Ghana Financial Literacy Week, which will take place from 28 September to 03 October 2009.
Source: http://allafrica.com/stories/200909030673.html
Civil society programmes
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Consumer education campaign, Support Programme for Enterprise Empowerment and Development (SPEED) Ghana, in collaboration with the Ghana Micro finance Institutions Network (GHAMFIN) This consumer education campaign aims at raising awareness of financial services for Micro, Small and Medium Enterprises, as well as the need for these institutions to be transparent and truthful in their dealings clients. The campaign, among other things seeks to enhance financial literacy among clients of financial services, as well as their ethical treatment by financial institutions and also provide technical assistance to these institutions. The campaign which takes the form of drama and plays will educate clients about their rights and obligations vis-à-vis financial institutions, and to enable them take informed decision on borrowing, saving and investment based on a sound knowledge of the benefits, costs and risks of financial products. The programme will take place in nine rural towns and suburbs in the Greater Accra Region.
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