Fidelity Bank empowers youth at African Games with financial literacy workshop

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.