The Deputy Minister of Finance, Abena Osei Asare has disclosed that financial information penetration in the country has shot up to about 95 percent.
This according to her is a little over the 85 percent projections made by government for the year 2023.
The Deputy Minister maintains that although the figures have gone up, many Ghanaians are still falling victim to Ponzi schemes and other financial fraud activities.
Speaking on the sidelines of the launch of the Financial Education Campaign in Accra, the Deputy Minister of Finance, Abena Osei Asare urged Ghanaians to make informed decisions with respect to their financial needs.
“During a survey in 2010, we were made to realise that the kind of financial information penetration was 41% which was very low and did not help individuals to make informed decisions concerning their financing, so the government sought to improve it and in 2015 we realised that it went from 41% to 58%,” she said.
“But the target of government was that the financial information penetration should increase to about 85% by 2023 and as we speak it’s gone up to about 95%. But what we are talking about is financial capability, how capable are we to make informed decisions when it comes to our finances,” she disclosed.
“We believe that with this campaign launched, it will help reduce the the loss of money to Ponzi scheme and other things which entice people, only for them to find out later that what they were promised was not true,” she added.
