Africa-Press – Ghana. Some youth in the Keta Municipality have benefitted from a two-day workshop on financial literacy aimed at strengthening management of their thriving small and medium-sized enterprises (SMEs).
The two-day training was organised by the National Youth Authority (NYA) Secretariat in Keta in collaboration with the leadership of Keta/Anloga Youth Parliament and the Anlo Rural Bank PLC.
The workshop brought together finance experts from Anlo Rural Bank Limited, who took participants through key financial management principles and practical business strategies.
Mr. Godwin Sena Agbeworkonu, Credit Risk Manager at Anlo Rural Bank, delivered sessions on fundamental financial concepts such as income, expenses, budgeting, profit calculation, and cash flow management.
“Budgeting avoids overspending, it serves as a guide on reinvestments, it also controls cost, and helps the entrepreneur to make informed financial decisions,” Mr Sena said.
“As an entrepreneur, it is not enough to just make sales; you must track your expenditure to determine whether your business is profitable or not. Proper financial records also help you to avoid unnecessary wastage,” Mr. Agbeworkonu advised.
Mr. Venuye Amegago, Head of Business Development and Marketing at Anlo Rural Bank, took participants through financial products, including loans, credit facilities, and shares. He highlighted the importance of understanding when and how to access credit.
“Loans are not bad in themselves. What matters is the timing, purpose, and repayment plan. Entrepreneurs must learn to differentiate between good and bad loans, because the right kind of credit can help a business grow, while the wrong one at the wrong time can cripple it,” he said.
“Before you access loans, consider the interest rates. Do not take loans when you don’t have a clear objective for the business,” Mr. Amegago explained
Mr. Francis Susuawu, the Keta Municipal Youth Director, in his closing remarks, commended both the facilitators and the participants.
He encouraged the youth to put the knowledge acquired into practice, saying the training is not just theory, but a tool to help them manage their businesses better, urging participants to apply the lessons diligently and allow the information to transform their enterprises,” he said.
Some participants also expressed their appreciation for the initiative.
Madam Joan, a young entrepreneur from Vodza, shared how impactful the training had been for her.
“Financial literacy is not usually taught in classrooms, so many of us run our small businesses as amateurs with our knowledge. This workshop has been an eye-opener, and I am grateful because it will help me avoid mistakes and manage my business better,” Joan said.
Speaking after the programme, Mr. Agbeworkonu described the engagement as highly interactive and expressed hope that the lessons shared would yield results in the participants’ businesses.
He said similar workshops would soon be extended to other communities in Anlo State to reach more young entrepreneurs.
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