The campaign aims to instill habits of sound financial management, savings, and cost reduction
About 50 fishmongers operating at the Kpong Fishing Harbour in the Lower Manya Krobo Municipality of the Eastern Region have benefited from a financial literacy campaign organized by the Youth and Women Empowerment (YOWE) initiative.
The campaign aims to instill habits of sound financial management, savings, and cost reduction to enhance their financial security.
The engagement featured key figures from YOWE, including its Executive Director, Mr. Emmanuel Nuetey Siakwa, Board Chairperson, and Mr. Daniel Alimo (Technical Advisor). They educated participants on personal and group savings practices designed to sustain their businesses, improve livelihoods, and secure their financial future.
Funded by the STAR-Ghana Foundation, the project falls under the theme “Action for Voice, Influence and Inclusive Development (AVID-2).” It is designed to raise awareness and promote the adoption of savings and investment habits for long-term financial security and protection against unforeseen financial challenges.
As part of its contractual agreement with STAR-Ghana Foundation, YOWE is engaging various women’s groups—including smallholder farmer groups, market women associations, and women fishmongers—as well as persons with disabilities (PWDs) in the two project districts over an 18-month period.
Fishmongers at the Kpong Fishing Harbour, like many small business operators, often face unexpected financial setbacks due to a lack of savings and investment.
Addressing this issue, Mr. Siakwa urged participants to develop saving habits and increase their savings year after year. He emphasized that cultivating financial discipline is key to safeguarding against future uncertainties.
He stressed that saving is important regardless of income levels and outlined the many benefits of saving with financial institutions. These include earning interest on savings, access to loans, protection from impulse spending, and safety from risks such as theft or fire.
While some participants were already practicing individual savings, those who were not were strongly encouraged to open bank accounts and begin saving with financial institutions of their choice.
By the end of the session, participants overwhelmingly expressed that they had gained valuable knowledge and practical skills to improve their savings habits and enhance their businesses.
They conveyed their gratitude for the insights shared and committed to applying the skills learned to ensure long-term financial stability.
