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Lancaster University Ghana (LUG), in collaboration with the Association of Chartered Certified Accountants (ACCA) Ghana, has launched first of its kind the Financial Literacy Project (F.L.I.P.) for the second cycle institutions at the East Legon campus of the University.

The Financial Literacy Project is the result of a Memorandum of Understanding between LUG and ACCA with the main aim of being to educate students in second cycle public institutions on the benefits of saving money for both planned and unexpected future use.

In the wake of Ghana‘s current economic crisis, ACCA and LUG see it as their social responsibility to do all they can to avert the severity of another fiscal meltdown on the pockets of future leaders, hence the birth of the Financial Literacy Project.

With the project‘s target audience, those people who are yet to enter the job market, F.L.I.P will educate them in the best ways to utilise and manage money. This should benefit them immensely when they eventually enter the labour market.

Based on the project outline, ACCA is poised to provide all necessary tools and training, while the main execution of the project will be carried out by the student members of Lancaster University Ghana‘s Business Club.

The project in its pilot phase is to commence in the Greater Accra Region and will have LUG‘s Business Club members visiting a variety of public secondary institutions such as Accra Academy and Accra Girls‘ Senior High School, amongst many others.

From the university‘s point of view, F.L.I.P will serve as practical experience for the students who studied Project Management as part of their Foundation year. LUG prides itself in being one of the few universities in Ghana that successfully manage to combine theory and practice in their teaching and learning.

According to Mary Anne Amoah, the Marketing Manager of LUG, the Business Club members of the University upon visiting the selected schools will use interactive and creative methods of information dissemination to educate students in financial literacy.

She therefore added that the project will climax in a light-hearted quiz designed to reward the schools that become the most financially literates.