SWEDEC-GHANA organizes training on financial literacy and inclusion

The citizens of Mampong Ashanti have become more proactive and interested in social accountability issues because of social public expenditure and financial accountability forum (SPEFA) organized by SWEDEC-GHANA, one of the project goals of SPEFA is to improve citizens’ engagement with the Municipal Assembly and their perception of the management of the resources to increase infrastructural development with limited corruption.

Our achievements since the inception of the project have been; improved collaboration between the citizens and Assemblies, improved capacities of the citizens to engage with the Municipal Assembly and improved infrastructure development because of demand by the citizens. As a result of the capacity building process, the municipal assembly has used it urban grant to expend mampong central market with fifty lockable stores.

On Thursday 26th January 2017 as part of SWEDEC’s training series on governance and social accountability, trained 152 citizens of mampong on financial literacy and inclusion. During the training, Mr. Oxford Osei Bonsu who is the founder of SWEDEC-GHANA led participants to introduce themselves. He stimulated the participants through recap of the last SPEFA meeting. Then Oxford Osei Bonsu introduced the new topic for discussion “FINANCIAL LITERACY AND INCLUSION”.

Oxford welcomed all members who made it to the meeting, he then encourage them to take the best out of the meeting.

Through the recap of the meeting, the participants recapped some of the benefits of the meeting as the citizens to be build good relationship between the Assembly and the community, citizens now know their duties and are now more responsible as citizens to support development and help them to know and understand the duties and responsibilities of the Assembly as well.

The budget officer of the assembly Mr. Akowuah took turn to expand the topic to the citizens. He stressed on the importance of planning ahead of budgeting. Planning is key to development as it helps you to set your priority and guides your expenditure. He mentions the need for citizens to save with financial institutions to access financial support in times of difficulty. There is the need for citizens to have knowledge on how to manage the little incomes they received to take care of their needs
(Budget Officer explaining issues about budgeting)

The budget officer mentioned that as citizens, the ability to raise and spend money is budgeting, Procurement then follows budget.

He ended by saying that accountability is very necessary for efficient expenditure money.



The Coordinating Director of the shared information with the citizens on the need to pay taxes such as property rate, he said the properties are now weighed and charged according to the property size and other factors. He mentioned that as part of the mechanism to raise for more for the municipality, they have trained more revenue collectors and one of the principle is that they are not supposed to keep monies on them for more than 48hrs. They have to deposit the money to the bank and bring back pay in slips to the office.



Interactions/Suggestions by participants

A participant asked the coordinating director if it is possible for the assembly to lose money through revenue collection and other transactions. The Coordinating director said no, because all monies of the Assembly are kept in the bank. And mentioned that the assembly can lose money through the process of revenue collection, if the collector failed to account properly.

He later mentioned that one of the ways to ensure that resources are kept well is through the preparation of its annual financial statement every year where the external auditors audits for safe financial management.



Mr. Boakye asked why the assembly collect 10% after contract is awarded, he wanted to know who receives the 10% because he believes that is not a prudent action to promote development in the municipality. The coordinating director answered that, even the President Nana Addo has warn against such practice.

Conclusion

Oxford thanked the Director for making it to the SPEFA meeting and the Director assured members for attending the meeting to enhance their knowledge on government busines cycles. He told members to pay their rates so that the assembly performs its work effectively.He promised there will be proper accountability of all taxes received.