Financial literacy is an essential life skill that has important impact on an individual, family well-being and on the economy as a whole. Over the past two decades, both developed and developing countries have become increasingly concerned about the level of financial literacy of their citizens, particularly among young people.
Moreover, the literature suggest that, globally, financial illiteracy is a major reason for falling saving rates. There is therefore the need for people to understand how to save in order to change their livelihoods and realize the economic conditions in the country.
It is on the backdrop of this that Ecobank Ghana Limited partnered with the Bank of Ghana, to provide a two-day capacity training for the Journalists for Business Advocacy (JBA) under the theme: “Understanding Ghana’s Financial Sector Reforms: The Role of the Journalists,” which was organised by the Journalists for Business Advocacy (JBA), in Accra at the Ecobank New Head Office, from Wednesday 11th to Thursday 12th December, 2019.
Speaking at the training, Dr. Maxwell Opoku-Afari, the First Deputy Governor of the Bank of Ghana indicated that, the Bank of Ghana recognises the important role journalists play in sensitising the public about policies and programs nationwide, especially during the Bank’s Monetary Policy meetings.
Saying, “As a Bank, we always seek for such opportunities to develop strategic partnerships with journalists in the interest of business advocacy. Journalism is one of the most powerful professions in our world today because it helps propagate and shape ideas, policies, programs and the destiny of societies. However, it has been noted that to deliver these objectives of shaping society, the practice of journalism must be underpinned by responsibility.”
Dr. Opoku-Afari, explained that, in the literature, there are codes of ethics that drives responsible journalism, “These are seeking the truth and reporting it, minimizing harm in the discharge of duties, acting independently, and being accountable. When these code of ethics are imbibed by journalists, it ensures the delivery of a kind of public good to economic agents in a responsible manner,” he added.
He said, “Financial journalism can be used as a tool to advance the objectives of sound fiscal policies, efficient transmission of monetary policies, address bottlenecks hindering financial intermediation in the banking sector, promote structural reforms to ensure a smooth functioning of the economy, and above all support the process of economic growth and poverty reduction.”
Dr. Afari, also explained that, the extension of journalism to Issues […]