By Hafsa Obeng/ Esther Mateyko Kumah
Accra, Aug. 29, GNA – Prudential Life Insurance Ghana and Prudence Foundation have launched a free digital financial literacy platform, Levela, to equip at least 20,000 Ghanaians aged 18 years and above with practical skills to make informed financial decisions.
The initiative seeks to address financial literacy gaps, particularly among young people, amid increasing exposure to financial scams, misinformation, debt and complex financial products and services.
Launched under the slogan, “Levela, level up your game,” the platform provides practical knowledge to help users improve their financial decision-making and build financial resilience.
At the launch in Accra, Madam Gifty Owusu, the Head of Sustainability at Prudential Life Insurance Ghana, said financial literacy remained a major gap in Ghana, including within the formal education system.
She said although financial literacy was an essential life skill, many people lacked the knowledge required to effectively manage their finances.
“Financial literacy seems to be a simple tool that everyone must have, but there are still existing gaps. Several people are financially illiterate,” she said.
Madam Owusu noted that financial education was not sufficiently integrated into the school curriculum, leaving many young people without adequate practical knowledge in budgeting, saving, investment, insurance and debt management.
She also expressed concern about the increasing availability of unverified financial advice on social media, particularly advice on making and investing money, saying such misinformation could lead to poor financial decisions and early indebtedness.
She said Levela formed part of Prudential Life Insurance Ghana’s sustainability initiatives and Prudence Foundation’s broader community investment efforts to build financially resilient individuals and communities.
The platform, already available in selected markets in Asia and Africa, is being implemented in Ghana and Zambia as the two participating African countries.
Madam Owusu said Levela contained six interactive modules covering areas including budgeting, fraud prevention and insurance, with all modules designed to be completed within a maximum of two hours.
She said the target was to have about 20,000 Ghanaians complete the modules by the end of the year, stressing that the initiative would focus not only on participation but measurable changes in users’ financial behaviour.
“Our target is not just about completion, but we want to see behavioural change,” she said.
Madam Owusu urged Ghanaians to download the Levela application from the Google Play Store or App Store or access the web-based version.
She said participants who completed all six modules would receive certificates, describing financial knowledge as an asset that could not easily be taken away from an individual.
Ms Jane Mingle, the Chief Executive Officer of Prudential Life Insurance Ghana, said financial literacy had become a critical life skill in an environment characterised by increasing financial scams, fraud, misinformation and complex financial products.
“Financial literacy is no longer a nice-to-have; it is a life skill. It is a tool for empowerment, a pathway for resilience, independence and long-term financial well-being,” she said.
She said the company had previously implemented initiatives including the Chaacheng Financial Literacy Programme, Prudential Sika Suku, tertiary institution engagements and community outreach programmes.
Mr Josiah Lomotey, the Head, National Volunteer Services, Standards and Enforcement, National Service Authority, endorsed the initiative, saying it would provide young people entering the workforce with practical knowledge to manage their finances.
Dr Emmanuel Newman, the Director of Tertiary Education at the Ministry of Education, said financial literacy was essential for informed decisions on savings, investment, insurance, retirement, borrowing and household income.
He said having a good income did not necessarily guarantee financial stability, stressing the importance of budgeting, regular savings, prudent investment and responsible financial habits.
Dr Newman encouraged Prudential to strengthen partnerships with employers, educational institutions, youth organisations and other stakeholders to expand the programme to workers, traders, families and entrepreneurs.
GNA
Edited by Christabel Addo
Reporters: Hafsa Obeng/ Esther Mateyko Kumah