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13.05.2008 General News

Cultivate Habit Of Savings

By David Adadevoh - newtimesonline.com

A national Youth Investment Crusade and Quiz Competition was launched in Accra on Friday with a call on the youth especially students to cultivate the habit of savings.

Professor Adzie Bekoe, Chairman of the Council of State, who performed the launch said the government is concerned about the failure of the youth to take advantage of the numerous investment opportunities that exists in the country.

The present situation where only a few populations of the youth know about investment opportunities in the country does not auger well for speedy national development, he said.

The programme which is an initiative of Talents and Resources International is aimed at highlighting basic issues concerning investment and also provide the youth with the understanding of basic investment issues.

It also provides a platform to offer investment opportunities to Ghanaians and implore Ghanaians especially students to learn from the programme to adopt the practice of investing their resources wisely.

Under the programme all senior high schools in the country are expected to participate in the competition, which will pave the way for the establishment of investment clubs in the schools.

Prof Bekoe lauded the programme and urged the youth to take advantage of it adding that cultivating the habit of savings would go a long way in helping the youth to plan for the future.

In his remarks Mr. Asare Akkufo, Managing Director of HFC Bank, called for more incentives from the government to entice more companies to list on the Ghana Stock Exchange.

The Ghana Stock Exchange which has been in existence for the past 18 years need to attract more companies. The government must provide more incentives than just tax holidays for companies listed on the exchange, he said.

Currently, there are 35 listed companies on the stock market with market capitalisation of 14, 964 billion cedis.

Awoenam Amevor, founder and Chief Executive, Talents and Resources International explained that the programme is not intended to transform the youth into astute investors but it is intended to impact the basic knowledge and understanding of investment related issues.

This programme will generate the needed interest and excitement about investment, cultivate personal savings and investment habit especially among the youth in Ghana.

Robert Poku Kyei, Special Assistant to the Minister of Finance and Economic Planning, Mr. Kwadwo Baah-Wiredu, in his contribution urged the organisers to structure the programme well in order not to distort the academic calendar.

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