The Bank of Ghana (BoG) has intensified its nationwide financial literacy campaign with a targeted outreach to students and teachers of St. James Seminary Senior High School in Sunyani, equipping them with practical knowledge and skills to make informed financial decisions in an increasingly complex financial landscape.

The one-day educational programme forms part of the central bank’s broader strategy to promote financial inclusion and instil responsible financial behaviour among young people by exposing them to core banking concepts at an early stage.

Speaking in an interview, an official from the Financial Stability Department of the Bank of Ghana, Emmanuel Ansu Gyeabour, underscored the institution’s mandate to drive financial education across all segments of society.

“As part of our core mandate, the Bank of Ghana undertakes financial literacy exercises across the country. Over the years, we have engaged market women, security services and various community groups. This year, we are extending that focus to senior high schools and their teachers,” he explained.

Mr Gyeabour noted that the Bono Region forms a key part of the current outreach phase, with 10 schools selected out of more than 30 second-cycle institutions.

“St. James Seminary is one of the selected schools. Our goal is to help students understand the financial system of Ghana, identify licensed institutions, and cultivate responsible financial habits early in life,” he added.

The programme covered a wide range of practical topics, including responsible savings and investment, identifying Bank of Ghana-licensed financial institutions, protecting personal banking information, and recognising fraudulent schemes such as Ponzi operations.

Students were also taken through complaint resolution procedures, enabling them to understand how to seek redress when faced with challenges involving financial service providers.

A key highlight of the session was currency education, where participants were trained to identify security features of genuine Ghana cedi notes and the importance of handling currency properly to prolong its lifespan.

“We emphasised the need to treat the cedi with pride and keep it clean. Proper handling reduces the cost of replacing worn-out notes,” Mr Gyeabour stated.

To assess impact and deepen engagement, BoG officials administered pre- and post-session questionnaires to gauge participants’ understanding before and after the training.

“The responses and questions from the students clearly showed they were attentive and grasping the concepts. We will analyse their feedback to improve future engagements,” Mr Gyeabour said.

He added that particular emphasis was placed on helping students understand the structure of Ghana’s financial system, the roles of regulators, and how to verify legitimate financial institutions to avoid falling victim to fraudulent schemes.

Teachers were also taken through tailored sessions to strengthen their personal financial decision-making and enhance their ability to pass on financial knowledge to students.

The training further addressed issues such as dormant accounts and unclaimed balances, with officials advising participants to maintain regular account activity to avoid account inactivity.

Discussions also extended to responsible borrowing, the implications of loan guarantees, digital lending platforms including mobile money loans and the long-term consequences of loan defaults on creditworthiness.

Mr Gyeabour reiterated that the Sunyani engagement is part of a sustained national effort by the central bank to deepen public understanding of financial systems and consumer rights.

“The Bank of Ghana has consistently used radio, television, social media and direct community engagement to educate the public. This initiative is about empowering Ghanaians to make sound financial decisions and protect themselves in the financial space,” he said.

Some of the Students, Aglah Nana Amoateng Quincey and Gregory Oppong said, the outreach will help them with management of the finances and has shaped their better understanding of financial issues.

The outreach underscores the central bank’s commitment to building a financially literate population capable of navigating modern financial systems with confidence and responsibility.

Report by Daniel Donkor, Bono Region