Mr. Thomas Ishmael Adjei, Ag. Director of Retail Segments
Fidelity Bank Ghana, a leading advocate for financial inclusion, took a center
stage role in empowering young minds at the 13th African Games. The bank
sponsored the Youth Pavilion and as part of this initiative, Fidelity Bank's Ag.
Director of Retail Segments, Thomas Ishmael Adjei, delivered a powerful
keynote address focused on equipping young people with the knowledge and
tools needed to achieve financial independence.
Mr. Adjei's keynote address underscored Fidelity Bank's commitment to joint prosperity, emphasizing the bank's dedication to making its customers thrive through strategic financial planning and prudent decision-making. With a
focus on securing the future and achieving personal aspirations, Mr. Adjei
provided a comprehensive presentation, titled "Masterclass in Smart Savings
and Investments" which provided attendees with actionable strategies to
manage their finances effectively.
Mr. Adjei emphasized the importance of building a safety net through
consistent saving. He highlighted the importance of setting specific,
measurable, attainable, relevant, and time-bound goals (SMART goals) in
financial planning.
"Uncertainties are inevitable, but with strategic financial planning, individuals can build a safety net to safeguard their future, remarked Mr. Adjei.
"Through prudent saving and smart investments, individuals can achieve
their financial goals and attain the financial independence they desire."
The workshop explored practical saving techniques like "paying yourself
first", which means allocating a portion of income/allowances if
possible, towards savings before other expenses and utilizing windfalls
effectively.
Additionally, Mr. Adjei stressed the significance of tracking progress and
leveraging digital platforms and mobile applications to monitor savings and
investments effectively. “Monitoring savings progress provides a sense of
accomplishment and motivates continued commitment to financial goals”, he
said.
The workshop delved into basic investment concepts, highlighting the role of
investments in growing wealth and outpacing inflation. Mr. Adjei presented a
range of investment options available in Ghana, including stocks, mutual
funds, pension funds, fixed deposits, and government securities (T-bills).
Mr. Adjei concluded by emphasizing the importance of understanding risk
profiles and seeking professional financial advice before making investment
decisions. He encouraged the audience to conduct thorough research and
consider their individual circumstances when choosing an investment
strategy.
“Make sure you have enough information before you take that bold step to
invest your money. It's very important. Research could be a simple desktop
research. It could be going into a bank, or any of these other investment
companies and ask questions. It is free. Take a note, write out those
responses, and then take a pause and have time to think about your
decision before you go into investing. You can start small. If you haven't
saved before, or your risk appetite is also less, start small and build up a
plan around how to invest. Always seek professional advice, it is very
important”.
A lively question and answer session following the presentation allowed
participants to seek clarification and gain further insights on specific financial topics. This interactive element solidified the workshop's impact and addressed any lingering questions the young audience might have had.
Fidelity Bank Ghana's sponsorship of the Youth Pavilion and Mr. Adjei's
insightful presentation demonstrate the bank's commitment to empowering
young people with the financial literacy tools necessary to navigate the world
of finance with confidence. This initiative aligns with Fidelity Bank's broader mission of promoting financial inclusion and driving sustainable economic growth in Ghana.
