BoG takes financial literacy drive to Techiman, vows to protect depositors

The Bank of Ghana (BoG) has reinvigorated its commitment to engage with stakeholders across Ghana, highlighting the importance of collaboration and shared responsibility in maintaining the nation's economic stability. At its inaugural stakeholder engagement held in Techiman, the Bono East Regional capital, the Central Bank of Ghana (BoG) focused on financial literacy, consumer protection, and inclusive dialogue under the theme "Strengthening Stakeholder Relations Through Dialogue and Engagement."

The event aimed to build trust and ensure that every Ghanaian understands the Bank's operations and their impact on daily life.

Bernard Ato Otabil, Director of Communications at the Bank of Ghana, explained that the initiative is part of a broader strategy to strengthen collaboration between the Central Bank and local stakeholders. He emphasized the importance of inclusiveness, stating that the initiative seeks to let the people know the operations of the Bank of Ghana, ultimately fostering trust and understanding of the bank's role in their lives.

During the engagement, various critical topics were addressed, including the bank's role and mandate, responsible borrowing and consumer protection, the causes, implications, and prevention of dud cheques, and currency education on identifying and handling banknotes properly. Lawal Abubakari, the Regional Director of the Bank of Ghana for the Sunyani office, which oversees the Bono, Bono East, Ahafo, and parts of the Upper West Region, highlighted that the feedback gathered from the engagement will help refine the bank's approach and improve services nationwide.

He stressed that the feedback received is invaluable and will shape policies and interventions across the country.

While participants expressed appreciation for the Bank's efforts to educate them on its operations, some raised concerns about their inability to distinguish genuine financial institutions from fraudulent ones.