Research has shown that a lack of financial literacy is a major challenge among market women in Ghana. These hardworking women who are playing a significant role in the economy of Ghana are continuously impacted by their varied levels of financial illiteracy. Being financially literate empowers women to make informed decisions about their finances and helps them achieve their financial goals. Many “for-profit” as well as “not-for-profit” organizations are actively engaged in facilitating solutions to this negative situation in the marketplace in Ghana. Two such “not-for-profit” organizations working to help address the lack of financial literacy among Ghanaian market women are the Centre for Financial Literacy Education—Africa (CFLE-Africa) and the Makola Foundation founded and cofounded by Peter Asare-Nyarko and Comfort Oduro-Nyarko respectively. In this chapter, we will discuss how the Centre for Financial Literacy Education—Africa (CFLE-Africa) and Makola Foundation are contributing to help improve the level of financial literacy among Ghanaian market women and we also provide several recommendations.

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Improving Financial Literacy Among Market Women in Ghana: Case Studies from Two Nonprofit Organizations

  • Comfort Oduro-Nyarko,
  • Daniel Ofori-Dankwa,
  • Peter Asare Nyarko

摘要

Research has shown that a lack of financial literacy is a major challenge among market women in Ghana. These hardworking women who are playing a significant role in the economy of Ghana are continuously impacted by their varied levels of financial illiteracy. Being financially literate empowers women to make informed decisions about their finances and helps them achieve their financial goals. Many “for-profit” as well as “not-for-profit” organizations are actively engaged in facilitating solutions to this negative situation in the marketplace in Ghana. Two such “not-for-profit” organizations working to help address the lack of financial literacy among Ghanaian market women are the Centre for Financial Literacy Education—Africa (CFLE-Africa) and the Makola Foundation founded and cofounded by Peter Asare-Nyarko and Comfort Oduro-Nyarko respectively. In this chapter, we will discuss how the Centre for Financial Literacy Education—Africa (CFLE-Africa) and Makola Foundation are contributing to help improve the level of financial literacy among Ghanaian market women and we also provide several recommendations.