News/ArticlesNewsArticles and BlogsCenter for Grassroots Enterprise trains street-connected parents on financial literacy

Center for Grassroots Enterprise trains street-connected parents on financial literacy

The Center for Grassroots enterprise (CGE) of the Street Children Empowerment Foundation (SCEF) with support from the Ghana Social Workers Union, UK has organised a workshop for parents of street-connected children on financial literacy. The workshop was aimed at equipping parents with basic financial knowledge to help them better manage their finances.

Speaking at the workshop, Mr Paul Semeh, the Executive Director of SCEF underscored the importance of financial literacy in managing personal finances and encouraged the participants to use the knowledge acquired to improve their small businesses and the lives of their families.

He also implores the parents to cultivate the habit of saving, noting it was the best way to become financially self-reliant and in a sustainable way.

‘’Savings are your insurance for the future, so you must save more and spend less. Do not spend with the hope of saving the remainder, endeavor to always save first before spending the remainder’’, Mr Paul added.

Mr Peter Kwadwo Asare Nyarko, Founding Executive Director of Center for Financial Literacy Education Africa, who facilitated the workshop, advised the participants to segment their incomes to avoid overspending. He further urged them to be disciplined in prioritizing their needs and not wants.

The workshop which was organized as part of CGE’s Grassroots Entrepreneurs Empowerment Programme (GEEP) saw participants taken through financial education; getting organized; differentiating between needs and wants, and financial goal-setting.

Participants express confidence in the potential impact of the workshop on their livelihoods.

‘’The training has opened my eyes to many things, I used to spend my money on things that were not important. Now through this training, I know how to spend without easily running out of money’’, stated Fati Moro, a participant.

‘’I am very happy with the training I got today. I am particularly happy with the information on saving. I now know what to do so that when business is going well for me, I will still have money to take care of my three children’’, Noted Diana Quarcoo another participant.

CGE is an arm of SCEF that is dedicated to empowering street-connected persons above 18 years to be self-reliant through practical but sustainable economic and business development education and opportunities.