Fidelity Bank Ghana, a leading advocate for financial inclusion, took a centre stage role in empowering young minds at the 13th African Games. The bank sponsored the Youth Pavilion and as part of this initiative, Fidelity Bank’s Ag. Director of Retail Segments, Thomas Ishmael Adjei, delivered a powerful keynote address focused on equipping young people with the knowledge and tools needed to achieve financial independence.

Mr. Adjei’s keynote address underscored Fidelity Bank’s commitment to joint prosperity, emphasizing the bank’s dedication to making its customers thrive through strategic financial planning and prudent decision-making. With a focus on securing the future and achieving personal aspirations, Mr. Adjei provided a comprehensive presentation, titled “Masterclass in Smart Savings and Investments,” which provided attendees with actionable strategies to manage their finances effectively.

Mr. Adjei emphasized the importance of building a safety net through consistent saving. He highlighted the importance of setting specific, measurable, attainable, relevant, and time-bound goals (SMART goals) in financial planning.

“Uncertainties are inevitable, but with strategic financial planning, individuals can build a safety net to safeguard their future,” remarked Mr. Adjei. “Through prudent saving and smart investments, individuals can achieve their financial goals and attain the financial independence they desire.”

The workshop explored practical saving techniques like “paying yourself first”, which means allocating a portion of income/allowances if possible, towards savings before other expenses and utilizing windfalls effectively.

Additionally, Mr. Adjei stressed the significance of tracking progress and leveraging digital platforms and mobile applications to monitor savings and investments effectively. “Monitoring savings progress provides a sense of accomplishment and motivates continued commitment to financial goals”, he said.

The workshop delved into basic investment concepts, highlighting the role of investments in growing wealth and outpacing inflation. Mr. Adjei presented a range of investment options available in Ghana, including stocks, mutual funds, pension funds, fixed deposits, and government securities (T-bills).

Mr. Adjei concluded by emphasizing the importance of understanding risk profiles and seeking professional financial advice before making investment decisions. He encouraged the audience to conduct thorough research and consider their individual circumstances when choosing an investment strategy.

“Make sure you have enough information before you take that bold step to invest your money. It’s very important. Research could be a simple desktop research. It could be going into a bank, or any of these other investment companies and ask questions. It is free. Take a note, write out those responses, and then take a pause and have time to think about your decision before you go into investing. You can start small. If you haven’t saved before, or your risk appetite is also less, start small and build up a plan around how to invest. Always seek professional advice, it is very important”.

A lively question and answer session following the presentation allowed participants to seek clarification and gain further insights on specific financial topics. This interactive element solidified the workshop’s impact and addressed any lingering questions the young audience might have had.

Fidelity Bank Ghana’s sponsorship of the Youth Pavilion and Mr. Adjei’s insightful presentation demonstrate the bank’s commitment to empowering young people with the financial literacy tools necessary to navigate the world of finance with confidence. This initiative aligns with Fidelity Bank’s broader mission of promoting financial inclusion and driving sustainable economic growth in Ghana.

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