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Business News of Wednesday, 29 September 2021

Source: www.ghanaweb.com

How Ghanaians can become financial literates

To understand the concept of finance, first be ready to learn play videoTo understand the concept of finance, first be ready to learn

• To understand the concept of finance, first be ready to learn

• Don't be scared when you see the numbers and jargon

• Ask relevant questions

Most people in Ghana are abreast with political and social issues, but when it's time to talk about financial issues or business in general, the interest drops.

Perhaps, it could be that they are bombarded with numbers and jargons anytime they listen to people who are business inclined speak.

But people with little or no knowledge in things pertaining to business have to first psych their minds and be ready to learn.

Also, the central government needs to educate the Ghanaian populace at all levels on public expenditure and other business related topics.

The education, when given to them, will help them track government's expenditure and fish out some red flags or even make recommendations on the country's public expenditure.

In an interview with a senior lecturer at the University of Ghana Business School on how Ghanaians can be financial literates, Dr Vera Fiador reiterated the need for them to be educated.

She called on the central government and Civil Society Organizations to help deliver this mandate.

Dr Vera Fiador said, "That becomes a central governance perspective. CSO’s can help by educating…and building capacity first of the Unit Committee, the populace, the Assembly members."

"There are some Assembly members when they were doing the unit committee, a lot of people who came will not be able to read the financials to save their life but those of the people who will take decisions for us…have no understanding the implications that have for the population as a whole and so building capacity for all the people we put as office holders…will work together to build a stronger system for our finances," Dr Vera Fiador told GhanaWeb's Ernestina Serwaa Asante in an interview.

She said when the Ghanaian populace, especially those at the Unit Committee level are educated, they will ask relevant questions on public expenditure and will always hold those responsible for their actions.