Be innovative and self reliant - Dr Duffuor

Dr Kwabena Duffuor, Minister of Finance and Economic Planning on Monday advised the youth to be innovative to take advantage of opportunities available to make them self reliant.

He said they needed to take the initiate, stressing that government alone could not meet their socio-economic needs.

Dr Duffuor gave the advice when addressing the opening session of a four-day Stakeholders meeting on Financial Literacy for young people in Ghana on the theme: “Developing Positive Financial Attitude in Young People” in Accra.

The meeting organised by the Head of State Awards Scheme-Ghana under the auspices of the Commonwealth Secretariat Financial Literacy programme was to encourage and engage young people in entrepreneurial initiatives to create wealth.

In addition, it was to build the capacity of young people to gain access to entrepreneurial skills to meet the objectives of government in engaging more young people.

He said financial education was not solely a lesson which could be drawn from the crisis but rather it formed part of a broader approach to consumer education which pre-dates the current difficulties.

Dr Duffuor said financial education would assist consumers to better assess their needs and match these products being offered.

“We need to plan together to promote actions, which can complement and engage young people in financial matters,” he added.

The Sector Minister said to improve on financial literacy of Ghanaians, government policy and strategic document on financial sector recommended an annual financial literacy programme to raise the awareness of Ghanaians.

He said the benefits of financial education extended beyond stronger household balance sheets to promote a strong and resilient financial system.

Mrs Cheryl Bruce, Economic Adviser, Commonwealth Secretariat, said the programme was to develop models in training the youth on some of the financial challenges.

She noted that the financial literacy programme was to aid countries in their economic growth and investment.**