Education
Education
Deaching of the great explorer of the truth the builder
1,000 Youth to train in digital finance
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 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.” Women empowerment 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.
Why consider forex trading as your next investment move
A hard reality of our current situation is that at the time of writing this article, if you did a dollar conversion of your salary in Ghana as of January 2022, it’s safe to say you’ve been hit with a 50% salary cut, if not more; and it won’t stop there. Troubled? You should be. If you’re reading this article, you’re most likely particularly interested in Online Forex Trading, or are simply like many looking for an alternative investment. As the world teeters on the brink of economic catastrophe, with economists anticipating another global economic recession a little over 10 years after we came out of one, institutional investors, businesses, households and everyday people are frantically searching for alternative investments. Forex investment has a lot to offer all kinds of traders, from beginners to professional traders; and in this article Geldex explores the five most compelling reasons why you must consider Online Forex Trading as your next investment move. Global Economic Hedge With Global economic activity experiencing a broad-based and sharper-than-expected slowdown, inflation has been higher than expected in the aftermath of lingering effects from the COVID-19 pandemic, Russia’s invasion of Ukraine, the rising cost of living, and tightening financial situations. These are all weighing heavily, especially in the face of global growth being projected to slow from 6.0% in 2021 to 2.7% in 2023 – a record low since 2001. This comes with attendant inflation – forecast to rise from 4.7% in 2021 to 8.8% by the end of 2022. The IMF has warned: “The worst is yet to come, and for many people 2023 will feel like a recession”. As Ghana engages in Debt Restructuring with the International Monetary Fund, government securities, including Treasury bills and bonds – previously regarded as an all-safe, risk-free investments – are most likely to lose a large aspect of that safety and protection from risk. Now more than ever, in the present economic situation Forex Investment has become an absolute necessity to guard against financial shocks, missing out on high-potential opportunities, and to hedge against inflation. The currency market allows you to invest in Forex by trading currencies based on how you perceive their relative values will change over a period of time. Depending on which direction you believe a particular currency is headed, you can speculate or project both ways; either long or short. After having gained enough experience, you can allocate your risk across the currencies of several countries; allowing you to profit from changing global macroeconomic conditions. A level playing field Online Forex Trading was previously reserved for multi-national corporations, banks, financial institutions, and very wealthy investors. With prevalence of the Internet and technological advancements, Forex trading companies and proprietary currency trading platforms, this investment opportunity is now open to everyone willing to invest. The same technologies that have made online forex trading possible are the same ones that have made information freely available. In addition, unlike other capital markets, the news that drives currency prices is available to everyone on a real-time basis. Unlike stocks, bonds and even commodities which can many times be influenced by proprietary information held by insiders and key stakeholders of those assets, control of the currency market is much less centralized – and thus far less influenced by insider information, if ever. This aspect of online forex trading makes it one of the most transparent markets for trading. Knowledge is indeed power, and today’s information technology provides it in abundance. The speed at which technological advancements have ensured news travels across the globe means that someone investing in Forex can monitor their open positions from anywhere on the globe, and can react just as swiftly as a professional trading from the very centre of it in New York, London or Tokyo. Resources previously available only to large financial institutions are now open to all who may be interested in Forex investment. This means you can do your own analysis of events that influence a country’s economic health and actual monetary flow, which are the elements driving and impacting currency valuations. Thus, the online forex trading market cannot be controlled by one person or a few individuals and institutions. Considering how incredibly complex the online forex market can be, coupled with the myriad of influences (both macro and micro) they are subject to, everyday people investing in Forex are now better-positioned than they have ever been to take advantage of information and use it to manage their capital profitably. Volatility In simple terms, volatility refers to the price fluctuations of assets. It measures the difference between the opening and closing prices over a period of time. When looking to invest, many people tend to gravitate toward more stable options – such as the Real estate market, which is largely viewed as a solid investment market. But who says volatility has to be a bad thing? In actual fact, when a market moves frequently it creates an avenue for many opportunities to make strong gains within a relatively short period of time. Warren Buffet was once quoted as saying: “Look at market fluctuations (volatility) as a friend, rather than an enemy”. The volatility of currencies is influenced by a number of factors, including but not limited to: The economic stability of a particular country Global economic happenings as a whole Political news, events and policies (e.g., interest rate fluctuations, currency revaluations, political upheavals, trading sanctions, monetary policy changes, trade deficits, tax changes, import restrictions, etc.) Trade deals, etc. On any given day, Forex markets can move between 50-100 pips on a major currency pairing, allowing investors to cash-in on poor-performing assets or seize upon potential opportunities that present themselves. Regulation Forex Market regulations refer to the rules, laws and guidelines that Forex Trading Companies or brokers operating within the Online FX Trading space must abide by. They extend to the continuous oversight and enforcement of these rules. Forex Investment is well regulated by several bodies across the globe – including CYSEC (Cyprus Securities and
Training 1,000 Youth In Digital Finance For Free
The financial market globally has seen one of the most dramatic changes in regards to the insurgence of technology over the past decade after the last financial depression in 2009. The global market is currently seen to have opened up to digitalisation, thus opening up to everybody to play fair as compared to in the 70’s when it was just governments and big financial institutions which could indulge in it. The adaptation of these new innovation and technologies on the market has not been very smooth as governments all over the world are still adjusting to the pros and cons of these developments. The African economy is suffering the most as it’s struggling to keep up with these innovations due to lack of proper systems to back these technologies and support such innovations. It is paramount to emphasize that the next decade would have the world running on robotics and automations, making human labour force a thing of the past. Banks in Africa are fast moving onto the online banking systems, applications that are removing the need for customers presence at banking halls. The digital economy has become the new norm and at a disadvantage to the Labour force. FOREX Trading, a non starter for most Government undoubtedly stands out to be a growing interest in the African financial economy currently. As a digital financial instrument, the sector possess enormous amount of career and financial opportunities. The African youth is gradually gearing towards an alternative career path looking at the unemployment situations in the region. Appropriately, 15% of the 1.26billion population of Africans is said to be engaged in the digital financial market, a current report by Forbes indicated Africa’s adoption of bitcoin (cryptocurrency) is the highest globally with Nigeria leading the chart, an intriguing data that needs further survey. Ghana’s Security and Exchange commission and the Bank of Ghana have acknowledged the importance of these digital innovations especially the blockchain technology . An article released by Bank of Ghana indicated its interest in the blockchain technology and its preparedness to adopt the technology to improve the nation’s payment systems. They also buttressed this point by promising to make currency trading their priority. Ghana currently is among the African countries with plans of introducing a digital e-coin to back it fiat currency CEDI to stability and to properly compete on the global market, a step in a right direction. As the country’s economy is opening up to new innovations, there is the need for the Labour force to meet this opportunity with the relevant technical know how and preparedness in the digital financial market. It is in this light that the WOMEN IN FOREX GHANA, a team of financial market trading experts and analysts is collaborating with other Forex brands such as Lolyfx, African financial Traders organisation and Geldex Invest to put together educational conferences and trainings to introduce 1,000 youth in online trading : The trainings are going to be done across the regions, the 1st training session commences in February dubbed: LOVE IN THE MARKET SERIES. This is a 2day lecture with a charity ball that targets to donate to 3 charity organisations namely: Maternalright Ghana, Menarche-Pad a girl project, Coverme worldwide. Geldex Invest, and indigenous brokerage firm located in Accra that is pioneering the use of the local currency Cedi is the main sponsor of this training. Women in Forex Ghana with these collaborations aims at raising professional online traders and transparency standards on the financial market. The organisation hopes this serves as the beginning of great impact on our unemployment situation and encouragement for upcoming/enthusiastic financial experts to work prudently The overall objective of this project aligns with the goals of the United nation’s Sustainable development Goals(SDGs):Education,employment, empowerment, poverty eradication etc. The financial market globally has shifted from the traditional commerce to ecommerce and it’s about time that our education follow suit. We have no other choice but to change our money Game
