According to Samuel Akoetey, financial education would reduce bad savings and investments
Comprehensive financial education would help boost Ghana’s development – Economist
Financial education would reduce bad savings and investments, Samuel Akoetey
Ghana’s educational system’s emphasis on theoretical knowledge acquisition must be changed
Director for Business Development at the Centre for Greater Impact Africa, Samuel Akoetey, has called for the inclusion of courses in financial literacy and entrepreneurship to the educational curriculum of tertiary institutions in Ghana.
Samuel Akoetey who disclosed this at the Ghana News Agency Industrial News Hub Boardroom Dialogue said this was so important because irrespective of the course a person does in school, he or she, at some point, would engage in a financial transaction.
He hinted that to avoid being cheated, every person should know the basic financial transactions.
He added that financial literacy was also important because it opens the youth to more opportunities including the preparation of budgets as well as investments and the setting of financial goals.
“When this is done, even if you are not business students, you will appreciate what business also enhances the student’s ability to venture into business and entrepreneurship with the necessary skills and the right mindset,” he said.
Samuel Akoetey indicated that a comprehensive financial education would boost Ghana’s development because it would broaden the understanding of many Ghanaians in the financial space and reduce bad savings and investments.
Also, he said the educational systems in Ghana had to be more practical because most Ghanaian students found it difficult to apply the theories they studied in real life.
According to him, Ghana’s current educational system was that of the colonial masters which only emphasised the acquisition of theoretical knowledge.
“We have a lot of learned people who cannot apply what they have learned, they have ideas, but making it practical is a problem,” he said.