Financial literacy strategy to be implemented in 2022 – Ofori-Atta discloses

Minister of Finance, Ken Ofori-Atta

Following the recent cleanup of the financial sector, the government says it has become imperative for it to embark on a financial education campaign across the country so that there is an understanding of the benefits and risks associated with financial products and services, and empower Ghanaians to make decisions in their best interests.

To this end, a five-year National Financial Literacy Strategy (2021-2025) that has been developed to serve as a model for the financial literacy program.

According to the government, will be implemented in 2022 with a pilot project in some selected districts to test the relevance of the literacy tools and materials designed.

Subsequently, the government will expand the program to cover the 16 regions of the country.

These were included in the 2022 budget statement presented by Finance Minister Ken Ofori-Atta to Parliament on Wednesday, November 17, 2021.

Referring to other financial education programs, Mr. Ofori-Atta said: “Mr. Mr. President, following the adoption of the Anti-Money Laundering Law of 2020 (Law 1044) , the ministry sensitized 896 participants from relevant institutions and other stakeholders to their obligations under the new legislation, and trained them on various aspects of improving the fight against money laundering. / Compliance with the fight against the financing of terrorism (LAB / CFT).

In 2022, he said the Financial Intelligence Center will strengthen its collaboration with other regulatory and supervisory bodies and law enforcement agencies (LEAs) to deepen and improve understanding of money laundering risks. money and terrorist financing.

This, according to the minister, will strengthen the fight against money laundering, the financing of terrorism and the proliferation of weapons of mass destruction.

Mr. Ofori-Atta assured that the government will initiate the development of specific sectoral directives on the fight against money laundering / the fight against the financing of terrorism for the sector of designated non-financial businesses and professions (DNFBP) in order to ” ensure the compliance required by the fight against money laundering. Law of 2020 (Law 1044).

“In 2022, the respective AML / CFT guidelines for accountants and casino operators will be developed to guide their operations in accordance with the law,” he said.

Louis R. Hancock