Three public and private universities have been selected to benefit from a free forex trading (digital finance) programme this year under the Elevate Ghana Forex Project.
The beneficiary universities are the University of Ghana (UG), University of Cape Coast (UCC) and Valley View University (VVU).
It seeks to train 1,000 youth in digital finance from these tertiary institutions and three other identified regions.
The training, an initiative of Women in Forex (FX) Trading Ghana, is aimed at introducing students to forex trade, equip them with the basic skills and develop their interest in the market which could serve as a part-time job for them while in school.
The charity ball
The Founder of the Women in Forex Trading Ghana, Ms Gifty Annor Sika, made this known at a charity ball and dinner held in Accra last Sunday.
The event was organised by Forex Ghana, in collaboration with LolyFX and Blooming Trading Limited, to raise funds for charity projects.
The proceeds are expected to be donated to three charity organisations which consist of Maternal Right Ghana, Menarche Pad a Girl Project, and Coverme Worldwide.
Ms Sika said digital finance was quite a complex space that required some level of education and intelligence to manoeuvre.
As a result, she said tertiary students were better positioned to comprehend the process and learn the trade faster, hence the decision to involve them.
She noted that this year, the Elevate Project which had an objective of training more than 1,000 youth across the country, had selected those three universities as well as three other regions -Volta, Eastern and Northern as beneficiaries.
“The project’s main objectives are aligned with the Sustainable Development Goals (SDGs) and this year as we seek to reduce the inequality gap, we are training 1,000 youth across three regions and three universities as well as some national service personnel. Basically, our idea is to teach, create value and give back to charity,” she said.
The project aims to bring to bear the enormous career and financial opportunities the sector bestows.
“The forex market is very liquid and is currently the most liquid financial sector in the world. Last year, it had $1.26 quadrillion revenue and in daily volumes it had $1.6 trillion. If the whole of Ghana decides to trade in the digital market, all things being equal everyone will earn $2,000 daily, she said.
“This is how much liquid the trade is and it is an advantage for the unemployed graduates. Sometimes, people come into this space and because they want quick money, they do not learn the trade well and end up losing their money to fraudsters and then complain that digital finance is a scam.”
The Mayor of Capital Garden City of Belmopan Belize in Central America, Sheron Palacio, who was the guest of honour at the event, commended the organisers for supporting women.
She said she was also excited to see Accra appoint a female mayor for the first time.