As the Government of Ghana moves to restructure its local currency and external debt, Citi FM and Citi TV are partnering with Finex skills hub and Fincap Securities on an analysis of the 2022 banking sector results.
The partnership aims at providing insights into the financial health of banks as the government restructures its public debt which is estimated at GH¢576 billion.
The data analysis of the banking reports focuses on explaining in simple terms to listeners and viewers of Citi FM and Citi TV as well as news consumers, the financial health of existing banks.
The report analyses the banks’ income statements and balance sheets with a focus on profitability trends and the effects of impairments of assets on their books.
Speaking to Citi News, Selasi Kofi Adu a banking and Financial Analyst with Fincap Securities explained that the report analysis is to help news consumers better understand the content and implications of the bank’s financial statements, with the view to improve financial literacy amongst the populace.
According to him, investors make better decisions the more exposed they become to relevant financial information, and with Fincap’s positioning as a new-age investment bank, a collaboration that deepens financial knowledge, is critical.
On his part, Founder & Lead Facilitator for Finex Skills Hub, Bernard Obeng Boateng said the collaboration is aimed at providing key insights on the performance of banks in Ghana.
“Finex Skills Hub is happy to be part of this collaboration to help provide key insights on the performance of our banks in Ghana.”
“Financial statements can be dense and complex, making it challenging to interpret the data accurately.
“As a training hub for Data Analytics and Financial Modeling, we believe visualization adds significant value to bank performance analysis and extends the insights behind the numbers to a larger group of Ghanaians,” he added.
“This enables businesses, investors, and other stakeholders to make informed decisions and take appropriate actions to improve financial performance, mitigate risk, and ultimately achieve their financial objectives.”
Citi TV will tonight [Monday, 8th May 2023] on the station’s flagship show, The Point of View with Bernard Avle, air the first part of the report analysis.
The Citi Business Edition on Citi FM will also host Analysts from Fincap and Finex to further break down the report.
Fincap Securities is an innovation-driven Investment Banking and Securities Trading firm that offers a wide range of financial services to a diversified client base that includes governments, financial institutions, corporations, and individuals.
The company’s flagship investment app – cedimanager (www.cedimanager.com) – is available online and in app stores for all retail investors looking for easier ways to learn and invest.
Finex Skills Hub helps individuals to skill up for the future job market right now by teaching practical and specialized skills in Microsoft Excel, and Power BI.
Since 2016, Finex Skills has seen the immense value new skills like Financial Modeling, Data Analytics and proficiency in other Office tools have added to the careers of members of our community.
