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Associations & Research Centers

CFLE Africa is working closely with The Financial Awareness Foundation and other partners to improve financial awareness and financial literacy in Ghana and Africa by establishing The International Improving Financial Awareness & Financial Literacy Association and Research Centers at Universities.

The first FA Association has been successfully established in Ghana and is housed at The University of Ghana (UG), the premier university and the largest university in Ghana which was founded as the University College of the Gold Coast by Ordinance on August 11, 1948 for the purpose of providing and promoting university education, learning and research.


The Association’s mission is to significantly Improve Financial Awareness & Financial Literacy in Ghana. The envision a Ghana and a World where every person is well educated and has personal finance knowledge – an essential life skill – necessary to make lifelong informed financial decisions while having access to the right financial advice and the skills and tools to manage their finances. Providing everyone the opportunity to achieve and maintain their financial stability, security, and freedom throughout their lives, while they pass on their values, knowledge and assets to future generations to make their lives and this world a better place.


The Association was pioneered by CFLE Africa, The Financial Awareness Foundation and University of Ghana Business School led by Dr. Benjamin Amoah (a Bank and Financial Analyst, Lecturer within the Department of Finance) with other founding partners.


The Association Aims & Objectives are to;
⦁ Serve as a forum for member students, faculty, staff and alumina for the discussion of matters relating to financial awareness and financial literacy.
⦁ Foster close co-operation and brotherly relationship among Members of the Association.
⦁ Assist the financial service industry in promoting financial awareness and financial literacy in Ghana.
⦁ Organize lectures, symposia, picnics and fundraising to support the University of Ghana, and The Improving Financial Awareness & Financial Literacy Movement in Ghana, Student Scholarships, Faculty Grants, and other worthy causes.
⦁ Promote and maintain the spirit of friendship among members of The Association
The membership of The Association shall be open to all persons who are within the University of Ghana Community, and at this time there is no membership subscriptions or fees.


Preview of what we will be doing
⦁ Leadership role in The Improving Financial Awareness & Financial Literacy Movement in Ghana
⦁ Assist in developing and delivering Financial Awareness & Financial Literacy Curriculum Programs for all university students, faculty & staff, and alumni
⦁ Establishing The International Improving Financial Awareness & Financial Literacy Research Center at UG. This will provide ongoing longitudinal, technical & academic research to monitor The Movement and its advancements, make improvements where necessary, and provide political leadership with valuable economic insights
⦁ Initiate Professional Certification & Training Programs for financial service professionals.
⦁ Establishing Incubators / Accelerators to identify, assemble, create, and help launch and nurture / guide the successful growth of new and existing businesses.
⦁ Develop a Network of Volunteers and Ambassadors that support The Movement and efforts at the University and throughout the University Community.
⦁ Fundraising for UG & UGBS


To learn more about The International Improving Financial Awareness & Financial Literacy Association at The University of Ghana Business School and how you can become a member or strategic partner visit us at http://ugbs.ug.edu.gh/association


Work is ongoing to establish similar associations and research centers at other universities in Ghana and Africa.

Welcome to your Some Questions to Ponder

1. 
. PAPERWORK In an emergency, could someone in your family quickly find your important papers— birth certificate, bank account records, health care directive, insurance policies, credit card records, will, etc.?

2. 
NET WORTH Do you know your current net worth and how you hold title to your various assets?

3. 
CASH FLOW MANAGEMENT Do you have enough cash available (in bank accounts or easily cashed securities) to cover yourself and your family for at least six months of no work?

4. 
BUDGET Do you and your family have a useful, written monthly budget?

5. 
EXPENSES Do you think you’ll be able to pay ‘all your bills’ on time every month for the next 12 months without a paycheck?

6. 
EMPLOYMENT BENEFITS Do you understand and, if appropriate, utilize all your employment benefits to your advantage?

7. 
GOALS Do you know what’s really important to you; and have you written your personal and financial goals for yourself and your family?

8. 
FINANCIAL INDEPENDENCE/RETIREMENT Do you know when you expect to be able to retire / become financially independent?

9. 
FINANCIAL INDEPENDENCE/RETIREMENT Do you know how much income & assets you will need to enjoy your retirement years; to live a quality life, including any special gifts or bequests to family, friends and nonprofits?

10. 
FINANCIAL INDEPENDENCE/RETIREMENT Have you calculated the amount of money required to reach your financial goals?

11. 
MAJOR EXPENDITURES - Have you thought about and made a list of major expenditures you can expect over the next five years and where the money will come from to pay for them?

12. 
INVESTMENTS - Do you think your current investment plan(s) will meet your retirement needs?

13. 
TAX DEFERRAL Do you think you are making the best use of tax-deferred investment plans for retirement?

14. 
TAXES Do you know the income tax rates on your last earned dollar?

15. 
INSURANCE / RISK MANAGEMENT Do you think you have the right amount of insurance— life, health, disability, long-term-care, auto, home/renter’s, fire/flood/earthquake, liability, etc.—not too little, but not too much?

16. 
ESTATE & GIFT PLANS Do you and your family have current wills?

17. 
POWER OF ATTORNEY Do you and your family have a current Power of Attorney?

18. 
ADVANCE HEALTH CARE DIRECTIVE Do you and your family have a current Advance Health Care Directive?

19. 
CHARITABLE GIVING Are your favorite causes or nonprofits included within your estate & gift plans for a bequest, planned gift, or as a primary or alternate beneficiary for life insurance or retirement plans?

20. 
TRUSTS Do you know the advantages and disadvantages of using trusts?

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