Participants and officials of AfYEF in a group picture
In a significant step towards bolstering the financial acumen of Small and Medium Enterprises (SMEs) in the country, Young Entrepreneurs Federation (AfYEF), in partnership with the Ghana Trade and Investment Activity (GTI), has launched an extensive financial literacy training programme.
The initiative specifically targets women and youth-led SMEs, and people with disabilities (PWDs) in the agribusiness value chain.
Recognizing the critical role of financial literacy in SME growth, AfYEF and GTI aim to address the common financial management challenges faced by entrepreneurs.
The comprehensive training curriculum includes crucial topics such as understanding money and capital, raising capital and expanding financial knowledge, differentiating between personal and business finance, comprehending basic financial statements and implementing inventory management best practices.
AfYEF President, Prince Siita Sofo Hissan, noted that limited financial knowledge has been identified as a significant obstacle to the growth of SMEs and so the organisation decided to equip participants with essential financial skills.
He indicated that the training seeks to empower SMEs, facilitate job creation, and stimulate economic development across Ghana.
“Successful training sessions have been conducted in the northern sector in Tamale and in Accra and so building on this momentum, the next training session will take place in Kumasi, targeting the middle belt. We believe that financial literacy is a cornerstone of business success,” he said.
Mr. Hissan disclosed that by enhancing the financial skills of entrepreneurs, especially those from marginalized groups, it will foster a more inclusive and robust economic environment.
BY Eric Kombat