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14.10.2008 Business & Finance

Habit of savings inculcate in youth managerial skills – Mrs Aba Smith

The Youth Savings Club (YSC) that was introduced in schools about ten years ago was not only another means to inculcate in the youth the habit of savings, but also equip them with some leadership and managerial skills.

Students and school authorities have therefore been urged to embrace the scheme that also offered the youth opportunity to contribute towards their education.
Mrs Aba Smith, Headmistress of Takoradi Bompeh Senior High Secondary Technical School made the remarks at the opening of the national conference of the YSC at Apowa near Takoradi on Saturday.

About 45 leaders of the various clubs and teacher-supervisors are attending the three-day conference which is on the theme “Savings a tool for development”.
It would focus on strategies for pooling resources together as future leaders to enhance education of members as well as overcome financial challenges in the future.

Mrs Smith who initiated YSC scheme said members have a bright future because the scheme religiously instils in them the habit of savings to the extent that it eventually became their lifestyles.

Mrs Smith announced that the number of the clubs in the various schools nationwide had increased to 36 with a total membership of 6,800.
Total savings stands at GHC80,000 as at June 2008.

Ms Victoria Nana Briandt, Teacher-Supervisor of Bompeh Senior High Technical School welcoming participants, said the scheme had come to save the education of many school children who would have become drop-outs due to poverty or low incomes of their parents.
She commended Mrs Smith for promoting the concept among schools in the country.

Mr Ernest Aidoo, National coordinator of the club commended the Canadian Co-operative Association for its contributions and continued support to the activities of the YSC.
Mr B. B. Fidelis, Deputy General Manager of Ghana Credit Union Association (CUA) advised participant to strategise to improve and sustain the operations of YSC.

Participants would discuss topics including importance of record keeping, responsibilities of YSC leaders and the role of the youth in Millennium Development Goals among others