Rise and Thrive Collective, FirstBank holds maiden Financial Literacy workshop

The c in partnership with FirstBank Ghana, has hosted its inaugural financial literacy workshop with the aim of strengthening the financial management capacity of micro and small business owners.

The event themed: “Boosting Business Resilience & Success through Smart Financial Management,” was held on the 27th September, 2025 at the MikAddo Conference Centre in Accra, and attracted about 120 participants, including members of the Association of Medicine Counter Assistants Ghana (AMCAG) and the Over-The-Counter-The-Counter Medicine Sellers Association (OTCMSA).

The Rise and Thrive Collective is a non-governmental organisation founded by Nunyuie Akaba, a final-year student of the SOS Hermann-Gmeiner International School.

The organisation seeks to bridge the financial literacy gap among small-scale entrepreneurs.

Expressing deep concerns over prevailing lack of financial literacy, he explained that his attention was drawn to it when he joined a FirstBank team for a community engagement at the University of Ghana during his internship.

“My inspiration stemmed from observing widespread financial illiteracy during a community engagement exercise with FirstBank Ghana while interning at the institution. This concern birthed the collective’s vision to empower entrepreneurs with essential financial knowledge,” he noted.

The workshop begun with Mr. Akaba using compelling statistics from the Ministry of Finance and the Standard and Poor Global Rating to stress the extensive problem of financial illiteracy.

The Technical sessions of the programme were also led by experienced financial professionals.

Mr. Seth Boateng, a Chartered Accountant started the sessions by clearly explaining the basics of business finance and broke down fundamental concepts such as assets, balance sheet, cash flow, gross profit, operating profit/margin, liquidity, break-even point among a host of other finance and business terms.

Mr. Neenyi Ayirebi-Acquah, a financial planning and business finance consultant also gave a speech focused on practical financial management while emphasising the need for disciplined budgeting, diligent record-keeping, effective cash flow planning,  and separating personal finances from business operations.

“It is important for regulatory compliance and maintaining accurate financial records as a pathway to sustainability and growth,” he underscored.

Representing FirstBank Ghana, Sefakor Ahiave, took the opportunity to explain the institution’s origins, detailing the recent name change, and proceeded to highlight the various savings accounts and financial solutions available to help small business owners manage and grow their capital.

For women entrepreneurs, she specifically featured the FirstGem Savings Account, which is designed to help them earn interest and build their wealth significantly faster than a typical savings account.

In a closing remarks, Mr. Akaba expressed appreciation to partners and participants, and noted that the workshop marks the beginning of a broader strategy to decorative financial literacy across the country.

He further pledged that the organization is committed to rolling out similar workshops across other communities to intensify financial awareness and improve business resilience.

The strong turnout and participant participation reinforced the growing demand for practical financial training among nation’s micro and small-scale business sector

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