BoG pushes financial literacy for economic stability
By Praisebell Rosemond Larbi
The Bank of Ghana (BoG) is stepping up efforts to boost financial literacy nationwide, describing it as a crucial driver of financial inclusion and long-term economic stability.
At the launch of a new book titled ‘Digital Financial Literacy’, authored by financial inclusion advocate Korsi Dzokoto, BoG’s First Deputy Governor Dr Zakaria Mumuni stressed that equipping citizens with financial knowledge is no longer optional but essential for sustainable development.
“Financial literacy is not just a personal asset; it is a national necessity. Deepening it across all sectors will drive inclusion and enhance the stability of our economy,” Dr Mumuni declared.
He explained that improving financial knowledge empowers individuals and businesses to make informed decisions about saving, investing and borrowing, which in turn strengthens the entire financial system.
In an era of rapid technological change and expanding digital finance, he noted, understanding how to manage money securely and efficiently is vital for both households and enterprises.
The newly launched book ‘Digital Financial Literacy’ seeks to close the knowledge gap in Ghana’s fast-evolving financial landscape.
Author Korsi Dzokoto said the publication is designed to help readers navigate mobile banking, digital payments and emerging fintech solutions with confidence.
“This book is meant to equip Ghanaians with the right knowledge and skills to navigate today’s fast-changing financial landscape and ensure that no one is left behind,” Mr Dzokoto explained.
Dr Mumuni lauded such initiatives as key to expanding financial inclusion, a major policy priority for the central bank.
He pointed out that when citizens understand how to use formal financial services, they are less vulnerable to fraud, can better plan for retirement and are more likely to invest in small business activities that stimulate growth and reduce poverty.
The Bank of Ghana pledged to continue supporting educational programmes, partnerships with schools and community outreach campaigns aimed at building a financially literate population. According to Dr Mumuni, a well-informed public is indispensable to achieving a resilient, inclusive economy capable of withstanding external shocks.
