Ecobank offers financial literacy training for women in SMEs to drive financial inclusion in local communities | Banking/Finance



Many Ghanaian ladies in Small and Medium-scale Enterprises (SMEs) have obtained data, expertise and monetary instruments from Ecobank Ghana to deal with important on a regular basis cash selections, corresponding to bookkeeping, primary accounting, budgeting, financial savings and investments.

This coaching was organised to mark Ecobank Day, a flagship annual Company Social Accountability to offer again to the communities by which the financial institution lives, works and serves.

Addressing the gathering on the coaching centre at UPSA in Accra, the Managing Director of Ecobank Ghana, Mr Dan Sackey, stated the main focus of this yr’s Ecobank Day was rising monetary literacy and monetary inclusion, significantly for ladies and youth in marginalised communities.

“We recognise that monetary literacy and monetary inclusion are life-changing issues, and that’s the reason we deal with them very significantly. We’re decided to assist increase monetary literacy, which in flip will drive monetary inclusion in our native communities.”

“Ecobank Ghana is dedicated to taking part in an necessary position in our communities as a significant contribution to the event of the African continent, according to our total company imaginative and prescient”, he stated.

Monetary literacy, Mr Dan Sackey defined was the power to make use of one’s data and expertise acquired by means of training and coaching to successfully handle monetary sources, ideally for a lifetime of monetary well-being.

And he stated monetary inclusion meant gaining access to helpful and inexpensive monetary services and products to fulfill one’s needs- funds, financial savings, private and small enterprise loans, and insurance coverage.

He added that monetary literacy and monetary inclusion a key enablers in lowering poverty and boosting prosperity.

He nonetheless stated that 68 per cent of sub-Saharan Africans weren’t financially literate and 62 per cent of the unbanked lived in rural areas with 40 per cent of them younger adults aged 15 to 24. Thus, 74 per cent of the unbanked had, at most, main training.

He talked about that as a part of the financial institution’s contributions to lowering these statistics, the Ecobank household in Ghana held 4 simultaneous occasions in Accra, Kumasi, Takoradi and Tamale to equip folks within the SME sector with data and expertise to handle their funds successfully.

He disclosed that there was one slated to happen in Manya Krobo later date because of unexpected circumstances.

Mr Sackey additionally stated that the coaching was one other avenue to supply the ladies and youth with quick access to opening accounts remotely in addition to receiving and making funds and sending funds to family members with out visiting the department.

He added that it was a part of the goal of Ecobank to assist folks enhance their funds, recordkeeping, and skill to efficiently begin and run companies and enhance their high quality of life.

Ecobank Ghana introduced 50 stitching machines to susceptible ones recognized in every of the 4 areas with the expectation that the beneficiaries with the data gained from the coaching would put the machines to business use to have the ability to generate incomes to enhance the lives of their households to realize monetary independence.

Members in Accra have been drawn from numerous backgrounds together with members of the varied Seamstresses associations, working from disadvantaged and marginalised communities.

He nonetheless cautioned the purchasers of Ecobank to stay vigilant and never fall prey to the actions of fraudsters who’re presently on the unfastened and defrauding unsuspecting prospects, particularly because the festive season of Christmas and New Yr drew close to.

Govt Director and Head of Shopper Banking for Ecobank Ghana, Dr Edward Nartey Botchway disclosed that the coaching came about concurrently in all of the 33 African international locations the financial institution operates with the identical theme, “Monetary Inclusion For All; Go away No One Behind” throughout the continent.

Dr Nartey Botchway stated it was not a one-off occasion however somewhat Ecobank would proceed to interact the folks to place to good use the data and expertise acquired from the coaching to higher their tons within the Small and Medium-scale Enterprise sector.

“If you’re going to know the efficiency of your corporation, it isn’t doable to try this with out correct recording and monitoring what you’re doing. That’s the reason why we expect this coaching is eager”, he stated.

Supply: Josephine Acheampomaa/



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