By Alex Baah Boadi, GNA
Datano (WN/R), Oct. 22, GNA – The Bank of Ghana (BoG) has held a two-day Financial Town Hall meeting for the informal sector businesses in the Western North Region.
The engagement was to, among others, promote financial literacy and responsible financial behaviour among transport operators, dressmakers and mechanical shop operators.
Participants were taken through the core mandates of the central bank, responsible borrowing, microfinance reforms, better ways of handling currency and consumer protection, among others.
Speaking to the media after the engagement, Mr Albert Fynn, a representative from the Financial Stability Department of the Bank of Ghana, said the meeting formed part of the Bank’s nationwide sensitisation drive aimed at strengthening public understanding and deepening the country’s financial sector.
He explained that the target group was strategic because they normally engaged the formal sector and that the Bank had realised that the informal groups struggled with how best to manage money, saving culture and did not have access to financial instruments available at the Bank especially with Treasury Bills, hence the engagement.
He also indicated that the informal sector formed a larger group of the socio-economic space.
Mr Fynn used the opportunity to advise Ghanaians to always transact business with financial institutions licensed by the Bank of Ghana.
He tasked the participants to be ambassadors and take the message along in order to yield a positive impact.
He expressed worry about how some individuals rejected the Ghana pesewa and insisted that it remained legal tender and should not be rejected since it was against the law.
Mr Evans Amoako, Western North Regional Secretary, Ghana National Association of Garment Makers, on behalf of the participants, commended Bank of Ghana for coming to their doorsteps for the engagement and promised to educate other members on what they learnt.
GNA
Edited by: Justina Hilda Paaga/Kenneth Odeng Adade
Reporter Alex Baah Boadi