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Regional News of Thursday, 27 August 2020

Source: GNA

Women smock weavers undergo financial literacy training

The seeks to help the weavers on how to manage their finances properly The seeks to help the weavers on how to manage their finances properly

Members of the Chevening Alumni Association of Ghana in the Upper East Region has schooled women Smock weavers at Page in the Kassena-Nankana West District on the financial planning process.

The Association, which has a membership of about 200, are a group of professionals who were selected through a competitive process, and sponsored by the Foreign and Commonwealth Office (FCO), United Kingdom (UK) to pursue Master’s Degree programmes in the UK.

Mr Matthew Amalitinga Abagna, a Development Finance Specialist and member of the Association, in an interview with the Ghana News Agency, said members of the Association comprised of professionals in diverse fields took up the initiative to train the weavers.

Among the beneficiary, districts are the Builsa North and South, the Kassena-Nankana East and West, Bongo, and Garu Districts.

The Builsa North and South had already benefited from the ongoing training.

“This year, we were able to get some funding from the Chevening Alumni Programme Fund and the British High Commission to organise the training for women smock weavers in the Region. We chose these weavers because of the obvious roles they play in their households and communities,” he said.

He said many women in the selected districts were engaged in smock weaving and were breadwinners for their families.

He said the weavers needed to be trained on how to manage their finances properly.

Mr Abagna said the training would enable the participants to manage their businesses, plan their finances and take advantage of the formal financial systems, including the opening of bank accounts for savings, insurance and retirement packages.

“These are people who are out of the formal sector when they are 60 years and above, some of them will not be able to weave again. So we want to give them that training so that they will be able to plan their finances in such a way that their businesses would be sustainable and their family lives will also continue.”

“We took them through financial literacy and planning process. We taught them how to prepare budgets, save money and set financial goals,” he said.

Mr Abagna said the training would equip the weavers with the necessary skills to take prudent and sound financial decisions that would be beneficial to their businesses and livelihoods.

Some of the participants, who spoke to the GNA after the training, expressed gratitude to officials of the Chevening Alumni Association of Ghana.

They said the knowledge gained would help them manage their finances adequately.

Madam Ivy Bintire, a participant, said the initiative to train the women was commendable.

“I didn’t even know how to manage my business to achieve the desired profit. I have learnt a lot and will make sure the knowledge reflects on my business.”