A Subsidiary of Prudential PLC, Prudential Life Insurance Ghana (PLIG), has launched a free web-based financial platform to help the youth to make informed financial decisions for a brighter future.
The app, known as LEVELA, was developed by Prudence Foundation, the philanthropic arm of Prudential PLC, to equip individuals with financial literacy skills to manage their finances, contributing significantly to a robust economy.
It was launched on the theme: “Advancing financial literacy and confidence in money management”.
Increasing financial literacy
Speaking at the launch in Accra, the Chief Executive Officer (CEO) of Prudential Life Insurance Ghana, Jane Mingle, noted that in recent times, there had been an increase in financial scams, fraud, misinformation, and increasingly complex financial products and services where individuals have also had to make critical decisions about savings, investments, insurance, pensions and digital financial services.
“This programme is more than a learning platform. It represents opportunity, empowerment and a commitment to ensuring that more Ghanaians are equipped with the skills and confidence to navigate an increasingly complex financial world,” she stated.
Ms Mingle indicated that over the years, her outfit had remained committed to advancing financial literacy across the country, particularly among the underserved and vulnerable populations.
Notable among initiatives that have promoted financial literacy and inclusion in Ghana, she pointed out, were the Cha-Ching Financial Literacy Programme, which introduced thousands of children to the fundamentals of financial management, as well as Prudential Sika Sukuu, which engaged individuals in tertiary institutions, communities, and markets.
She has reiterated the need to invest in every Ghanaian, especially young people, for them to achieve greater financial stability and a brighter future.
“Through LEVELA, we aim to empower approximately 20,000 Ghanaians with practical financial knowledge that can positively influence their personal, family and business decisions,” she indicated.
The EdTech Lead, Academic Talent Development Programme (ATDP), implementors of the app, Collins Lartey, who demonstrated how the app works, said LEVELA allowed users to access six different modules on financial education topics such as budgeting and cash flow management, savings and emergency funds, credit and debit management, risk management and insurance, among others.
For her part, the Head of Sustainability, PLIG, Gifty Owusu, said the app was accessible on the Google Play Store for Android users or the App Store for Apple users.
“The app is available across some of our key markets in Asia. In Africa, it is being introduced in Ghana and Zambia.
The app is a free platform for all users. Users, after completion of the modules, will receive a certificate.
This goal is to see behavioural change among Ghanaian youth who successfully go through the modules, so I encourage everyone to download the app,” she said.
Commendation
The Director of Tertiary Education of the Ministry of Education, Emmanuel Newman, congratulated PLIG on its contributions to promoting financial education in the country, noting that the new app was an economic investment in individuals, families and communities.
“Financial literacy is not simply about understanding financial terminology or knowing how to calculate interest. It is about developing the knowledge, skills and habits necessary to manage money responsibly, assess risks and make informed decisions about the financial future,” he said.
The Head of National Volunteer Service, Standards and Enforcement of the National Service Authority, Josiah Lomotey, urged all youths to take advantage of the app and make good use of it, adding, “It is not so much about how much you earn, but it is about how well you are able to manage what you have”.
