The Young Investors Network (YIN), a financial education development organisation in Ghana has received an America Saves Savings Champion award for playing crucial role towards encouraging savings.
The America Saves Savings Champion award an honor explicitly reserved for organizations, nonprofits, and government agencies that achieved remarkable impact during the annual America Saves Week campaign.
A statement jointly issued by the YIN and America Saves said YIN is one of only 35 recipients honored with this distinction out of nearly 3100 participating organisations of America Saves Week, which took place February 21 – 25, 2022.
The statement said recipients’ work contributed to an impressive collective impact of America Saves Week.
During the one-week timeframe, these organisations helped to encourage nearly 415,000 individuals to deposit $1,134,122,355.00 into new and existing savings accounts and establish automatic savings.
Mr Joshua Mensah, the Founder of Young Investors Network said the Young Investors Network has worked over the years to both educate young people on financial literacy and give them the opportunity.
“We started the Save A Cedi A Day Challenge to encourage Ghanaians, especially pupils and students to save while they are receiving money from their parents. We will continue to push this agenda because it has shown so many results over the years and promises to cushion young people financially in the future,” Mr Mensah added.
Mr Mensah noted that the Young Investors Network has so far impacted more than 100,000 young people across the country and we would like to commend all our partners and sponsors who contributed to achieving this international recognition.
“We commend UMB Investment Holdings, the Ghana Stock Exchange (GSE), and the Securities and Exchange Commission for the partnership opportunities given us over the years,” he added.
The Director of America Saves, Kia McCallister-Young said Currently, Americans are burdened with many economic challenges like inflation and rising home costs, all while still attempting to rebound from the effects of the ongoing pandemic.
She said there is a fundamental need for companies, agencies, employers, and organisations to step up and take action to support the people they serve in extraordinary and unique ways, helping everyday Americans build financial resilience.
McCallister-Young said the organisations awarded have answered that call noting, “Our Savings Champions went above and beyond to amplify a positive, shame-free approach to saving that truly meets people where they are on their individual savings journey.”
“The strategies, resources, and messages shared during America Saves Week — like saving automatically, for emergencies, and short-term and long-term financial goals — contribute to the overall financial confidence of Americans and gives them a trusted starting place to jumpstart or restart their saving goals,” continued McCallister-Young.
The Executive Director of the YIN, Mr Kofi Busia Kyei said this honour by the American Saves has given us more hope that at least someone is watching and appreciating what we do and this recognition motivates us to do more for Ghana and the world at large.
“All we need at the moment is to get more sponsors to enable us carry out more financial literacy campaigns in schools across the country and gradually help many young people to understand finances and take action towards securing their future financially,” Mr Kyei said.
We have some programmes that are generating a lot interest among pupils and students like the Capital Market Quiz competition (to help young people to understand the capital market) for the Junior and Senior High Schools and Stock Pitch Competition for the Tertiary (to help the youth understand how to trade on the Ghana Stock Exchange), he said.