CEO of investment firm, Dusk Capital, Bernard Osei Tutu has underscored the importance of financial literacy in empowering citizens not only to invest but also to protect their funds in the financial market.
He believes many people shy away from investment due to the lack of knowledge to differentiate investment firms from banking institutions.
He is therefore asking regulatory bodies to do more to educate citizens on the best place to put their funds depending on the purpose for which it is being put away.
Speaking to Starr Business’ Osei Owusu Amankwaah at the official outdooring of the company’s new head office at Ridge, Mr. Osei Tutu said the move is important to help make the county’s financial sector robust.
According to him, there is a lot of misconception of the financial sector that need clarification.
“Our space is the capital market space; unfortunately the banks are supposed to do retail banking, they are supposed to do money market they have no business in the capital market space.
“The capital market space belongs to investment banks who are duly licensed by Securities and Exchange Commission while the banks are supposed to do commercial and retail banking and they are license by the Bank of Ghana”.
He added that, there should be deliberate effort to educate basic school students to understand the financial sector.
“Starting to the primary school to the secondary school and even to the university; a lot of people don’t know that investment banking firms even exist. Sometimes you go and you introduce yourself and people mistake you for microfinance, some people say we are saving and Loans; they don’t really know the kind of role we play within the economy. There should be a lot of education on that.”
