Mastercard Foundation in collaboration with HFC Bank, one of the indigenous banks in the country, has rolled out a project that would encourage the youth to save towards their future.
The project dubbed, “HFC Bank Youth save”, was launched in Accra last week on the theme: Promoting opportunities for young people, results of the five year research project on youth savings in Ghana.
Speaking at the launch, the Chairperson of Ghana Youth Save Advisory Board, Madam Slyvia Hilson Ekong, said one of the common methods of acquiring wealth was by saving.
According to her, this has made several individuals millionaires across the world.
She said, the partnership with Mastercard and HFC, has seen over fifteen thousand saving accounts opened involving over two hundred schools by the beginning of 2015.
She was hopeful the partnership would transform the culture of savings among the youth between the ages of fifteen and twenty.
She said, the project was to promote and transform savings among the youth in the following : countries Ghana, Colombia, Kenya and Nepal.
Delivering the key note address, Dr Asare Akufo, Managing Director of HFC Bank , said the account was to motivate the youth cultivate the culture of saving.
He said, Ghana has a relatively large population of youth and if the segment of the population were encouraged to save money, the country can move forward in creating entrepreneurs.
He said, research has shown that young people are enthused about owning an account with a bank, and that HFC would continue to offer complimentary products that would assist peoples to pay for their educations and open opportunities for the less privileged in the society.