Business Journalists schooled on Ghana’s financial sector

By Julius K. Satsi, GNA        

Accra, Oct. 26, GNA – A two-day training for
business Journalists has ended in Accra on Friday with a call on corporate
Ghana and journalists to partner towards restoring confidence in the Ghanaian
financial system.

The training on the theme: “Understanding
Ghana’s Financial Market: The Role of the Journalists,” was organised by the
Journalists for Business Advocacy (JBA) with support from Ecobank Ghana Limited
and the Bank of Ghana.

Dr Maxwell Opoku-Afari, the First Deputy
Governor of the Bank of Ghana said training for financial journalists was
significant as any misinformation had the tendency to jeopardise the financial

He said, training of the financial sector
reporter was critical, adding that financial development and efficiency had
strong relations with economic conditions and development.

The Governor said the role of the journalists
in the monetary policy management had increasingly become important, adding
that “since the launch of the current monetary policy framework in 2002,
following the passage into law of the Bank of Ghana Act 2002 (Act 612), the
Central Bank has placed a lot of emphasis on transparency and communication in
the policy process”.

He said journalists must begin to deepen their
understanding in financial reporting, because wrong reportage could be
detrimental to the Ghanaian financial system.

Dr Opoku-Afari, said once financial information
was placed in the right context, everything in the system fell in place,
stressing that the Central Bank was committed to helping financial reporters to
be more expressive in their reportage through partnering with expertise.

He urged banks and other financial
institutions to join hands with Ecobank to support the training of journalists
to secure the financial system through constant training and retraining.

Mr Morgan Asiedu, the Executive Director of
Ecobank Ghana speaking at the opening said the bank had, for the past four
years continuously partnered the JBA to train journalists towards supporting
the media in its role of educating and informing the public.

He said the chosen theme was timely as it had
become important for journalists to understand the happenings in the financial
sector of the country.

He said “When journalists understand the
financial system, they are able to educate the public accurately to bring
confidence in the sector”.

Mr Asiedu said Ecobank had developed
strategies to increase banking culture among Ghanaians because with 30 banks in
the country currently and 1,000 branches, only 30 per cent of Ghanaians had
bank accounts.

Mr Kofi Yeboah, the General Secretary of the
Ghana Journalists Associations encouraged journalists to continuously
participate in training, which had the tendency to increase their professional
competencies and improve on reportage.

The GJA General Secretary noted that the
business beat of journalism particularly required constant training as it
involved a lot of technicalities to make a comprehensive reportage. 

Mr Yeboah urged the leadership of JBA to
consider establishing an institute to constantly train journalists and
individuals interested in building understanding in business reporting and also
consider instituting an award scheme.

Mr Suleiman Mustapha, the President of JBA
called on participants to put into practice whatever tools that there were
equipped with during the training.

He called on the BoG and other financial
institutions to continuously open their doors to support journalists to
constantly train towards reporting on the financial system accurately and


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