Young people need safe money management skills – Allen Quaye

The Head of Retail Banking at FBNBank has stated the bank’s position on youth empowerment by declaring that “in addition to other life skills young people need safe money management skills to survive the challenges of adulthood”. Mr. Quaye was speaking at a financial seminar organised by FBNBank on Thursday, March 28, 2024 at the UNiMAC South Legon campus. The session featured engaging presentations, interactive discussions and practical exercises designed to enhance students understanding of personal finance. Topics covered included budgeting, saving strategies, debt management, investment types, and safeguarding against financial fraud.

He emphasised the importance of financial education in empowering young individuals to make informed financial decisions. “At FBNBank, we are committed to promoting financial literacy and equipping the next generation with the tools they need to achieve financial security and success. Financial literacy is not just about numbers, it’s about empowering individuals to make informed decisions that shape their future. He added that the bank’s conviction that equipping people with the knowledge and skills to manage their finances safely and responsibly is paramount.

“Our commitment to promoting financial education is exemplified through initiatives like this seminar on safe money management. By imparting practical strategies and insights, we aim to inspire confidence and enable individuals to navigate their financial journeys with resilience and foresight. As we empower individuals to make sound financial choices, we contribute not only to their personal well-being but also to the prosperity of our communities and the nation at large”.

Allen Quaye, Head, Retail Banking, FBNBank Ghana and a cross-section of the participants

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Mr. Quaye further encouraged the students to start saving as soon as possible, as this will empower them in the future. He stated: “As you stand on the brink of entering the professional and digital world, the skills of saving, budgeting and planning for your future are not just optional but are essential. These are not merely financial strategies, but life skills that will give you the power and advantage to confront the challenges and take advantage of opportunities you come across in various stages of your life.

“Starting early helps you build a foundation so strong that when life’s storms hit, your financial ship will not only weather the storm but sail forward toward your dreams and goals. Remember, it’s not about the amount you start with but the discipline and knowledge with which you remain consistent and manage your resources. Let’s embark on this journey of financial empowerment together, ensuring a future where you are in control of your finances, rather than your finances controlling you”.

The seminar received positive feedback from participating students, who appreciated the opportunity to enhance their financial knowledge and skills. Many expressed gratitude to FBNBank Ghana for organising such a valuable and insightful event. As part of its corporate social responsibility (CSR) efforts, FBNBank Ghana remains dedicated to supporting educational initiatives and empowering communities across the country.

The Assistant Registrar in charge of Career Counselling at UNiMAC, Mr. Osei Arkoh, expressed his appreciation to FBNBank. In his remarks, he stated: “On behalf of UNiMAC and the entire student body, I extend our deepest gratitude to FBNBank for organising such an informative and engaging session on safe money management. I would like to express my heartfelt appreciation to FBNBank for their commitment to empowering young people with essential financial knowledge and skills; and we look forward to partnerships, investing in the development of our students and more fruitful collaborations in the future”. He mentioned that he looks forward to inviting FBNBank to seminars in the future.

FBNBank has, in its 28 years of operating in Ghana, remained focused on putting its customers and communities first. FBNBank Ghana is a member of the First Bank of Nigeria Limited Group, which is renowned for its great customer service and general stakeholder engagement garnered in its 130 years of operation. FBNBank Ghana has 24 branches, four service points and a network of almost 2,000 agents across the country, with over 700 staff. FBNBank offers universal banking services to individuals and businesses in Ghana.

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