Inculcating financial education: The Tertiary Business Sense Challenge example

Six years ago, the Graphic Communications Group, Ghana's most credible media brand, launched the Tertiary Business Sense Challenge (TBSC) through its Graphic Business brand, in partnership with the Institute of Chartered Accountants, Ghana (ICAG). 

The sixth edition of the project recently ended, with the University of Ghana Business School emerging victorious for the first time, beating defending champions, the University of Education, Winneba and previous winners the Kwame Nkrumah University of Science and Technology. 

Looking back, we can confidently say that this project has made a lasting impact, as envisioned by Graphic Business and its partner, ICAG.

With over 40 universities participating this year and the enthusiasm of business school faculties, this platform enhances financial literacy, its core objective. 

The TBSC has provided a unique opportunity for students to demonstrate their knowledge and skills in business and finance, while promoting a culture of financial education and awareness.

The past five years have highlighted the need for financial education in Ghana. From the banking crises to non-bank financial scams and the recent domestic debt exchange programme, it's evident that understanding the financial architecture is crucial for informed investment decisions.

The TBSC presents an opportunity for future leaders to develop this understanding, enabling them to make informed decisions that will drive economic growth and development.

Beyond financial literacy, the project has shown that contestants of the yearly project have excelled academically. 

According to ICAG's Director of Legal and Corporate Affairs, Madam Joyce Adu, recent academic examinations by the ICAG has revealed that top performers were contestants from previous TBSC editions. This fills us with joy and points to the impact this event/project plays within the contest of tertiary education.

An educated and financially savvy populace is a catalyst for economic growth and development. Therefore, Grapphic Business and its parrtners, ICAG and the Ghana Tertiary Education Commision (GTEC) aim to expand the TBSC's reach, bringing more tertiary institutions under this umbrella. 

This will enable us to promote financial literacy and academic excellence among a wider audience, contributing to Ghana's economic development.

Despite the successes of the TBSC, there are challenges to be addressed. We need to ensure that the project remains relevant and engaging, adapting to the changing needs of students and the financial landscape.

To this end we will explore opportunities for collaboration with other stakeholders, including government agencies, financial institutions and educational organisations.

We will continue to support the TBSC, expanding its reach and impact and contributing to Ghana's economic growth and development.

As we look to the future, we are excited about the prospects of the TBSC. Together, we can create a financially savvy populace, driving economic growth and development in Ghana.

The Tertiary Business Sense Challenge is an example of the impact that can be made through collaboration and commitment to financial education.