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22.05.2009 General News

FFLI: Inculcate the habit of savings & investment in the youth

By The Statesman
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The Foundation for Future Leaders International, which seeks to motivate and empower the youth in becoming worthy citizens for the nation's growth has urged Ghanaians especially the parents to inculcate the habit of saving in the youth.

This, according to the Foundation it is imperative that, the nation improves upon its culture of savings and investments whilst reducing the consumption for excess capacity to invest for the future.

Speaking at the lauch of the Future Leaders Investment Club, dubbed "From Pennies to Plenty” at the National Theater, Kwame Achampong-Kyei, Chairman of Gemini Life Insurance Company observed that, a savings and investment culture is very important in a nation's development since it is the first stage of capital formation.

Mr. Kyei further noted that, the desire of the youth to be wealthy is very encouraging but has to be attained through the adoption of an obsessive savings culture, which has to be inculcated right from school.

He added, “It may interest you to know that, FLIC is aimed at drawing the youth closer to ICT. The operations of the club would be undertaken with state-of -art ICT infrastructure which would require members to down load their statements of account and make enquiries using the internet”.

The Minister of Youth and Sports, Mohammed Mubarak urged corporate organisations in the country to channel their investments into supporting development programmes which would be of value to the growth of the country's youth.

He entreated the youth to listen and be involved with activities which would be valuable in making them better leaders in the future 

Alhaji Mubarak indicated that, the next challenge of Africa as a continent would not be war but finding appropriate ways of channeling the energy of its youth to more developmental issues in the face of growing dynamism on the world stage.

On his part, Deputy Minister of Finance and Economic Planning, Fifi Kwetey advised the youth to make conscious efforts to ensure whatever choices they make are essential and beneficial towards their future development.

Emmanuel Dei Tumi, Chief Executive Officer of FFLI disclosed that his outfit aims to help produce 50 billionaires, all below the age of fifty, within the next five years through the FLIC programme.

Mr. Dei Tumi said, members of FLIC club would be covered by insurance and adequate compensation in the event of any misfortune befalling them.

He noted that, the introduction of insurance to the youth would equip them to face future risks for their continuous enjoyment of their wealth.

The savings culture of the nation and indeed the Sub Sahara region has not been the best.

Available statistics indicate that, the current level of savings in Ghana is 17 percent, compared to the over 30 percent in Malaysia.

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