Rise and Thrive Collective, FirstBank champions financial literacy

The Rise and Thrive Collective, in partnership with FirstBank Ghana has organised its maiden financial literacy workshop aimed at strengthening the financial resilience of micro and small businesses in the country.

The workshop, held in Accra drew 120 participants, mainly from the Association of Medicine Counter Assistants Ghana (AMCAG) and the Over-The-Counter Medicine Sellers Association (OTCMSA).

The event, themed “Boosting Business Resilience & Success through Smart Financial Management,” forms part of a growing national push to equip entrepreneurs with practical financial skills needed to sustain and scale their enterprises.

The founder of the Rise and Thrive Collective who doubles as a final-year student of the SOS Hermann-Gmeiner International School, Nunyuie Akaba explained that he founded the Collective after observing severe financial illiteracy among small business owners during his internship with FirstBank, where a community engagement exposed the urgent need for financial education.

“I became deeply concerned about the prevailing lack of financial literacy among micro and small-sized enterprise owners,” Master Akaba stated. “This paucity of knowledge first caught my attention when I joined a FirstBank team for community engagement at the University of Ghana during my internship last year. That experience is what birthed the vision of the Collective to empower entrepreneurs with essential financial knowledge,” he mentioned.

Mr. Akaba thanked all supporting partners and said he was confident the workshop marked the beginning of a major effort to democratise financial literacy for micro and small businesses, starting in Accra. He reaffirmed his commitment to organising more workshops across other towns in the city and urged participants to apply the lessons learned.

Chartered Accountant Seth Boateng opened the training with an introduction to business finance, simplifying complex but essential concepts such as assets, balance sheets, cash flow, gross profit, operating margins, liquidity and break-even analysis, among other key financial terms.

A Financial Planning and Business Finance Consultant, Neenyi Ayirebi-Acquah delivered the main address, focusing on practical skills such as record keeping, budgeting and cash flow management.

He stressed the need for separate business and personal accounts, proper financial tracking and regulatory compliance, highlighting disciplined budgeting as a key tool for control.

The official banking partner for the event, FirstBank Ghana, represented by Sefakor Ahiave concluded the presentations with an overview of financial solutions tailored to SMEs.

Mrs. Ahiave highlighted the institution’s rebranding and introduced various savings products, including the FirstGem Account designed specifically to support women entrepreneurs. She noted that such products were developed to help small businesses build capital and expand with confidence.

The workshop concluded with the presentation of certificates to all participants, symbolising their renewed commitment to adopting sound financial practices for long-term business success.

 

 

 

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