Geldex Invest, a multi-regulated broker entity, as part of its 1st anniversary commemoration, has embarked on a campaign to train over 300 undergraduates from selected universities in ‘Digital Finance’.
The four selected universities to benefit from the initiative are the Koforidua Technical University, Valley View, Ghana Telecommunication University, and the University of Ghana, with some students already enjoying the hands-on training.
Geldex believes that it is important the youth are included in decision-making and given appreciative opportunities for work, training, and to innovate. It intends to train these 300 undergraduates on the capital market, and the need to indulge and explore career and financial paths in forex trading.
The capital market, especially the foreign exchange market, is the most liquid market on earth. Global Gross Domestic Product (GDP) of the forex market in 2019 amounted to roughly US$142trillion, with the entire worth of the market standing at US$2.4quadrillion, and with over 170 currencies being traded. This was reported by the Bank of International Settlement.
The population of sub-Saharan Africa is projected to double by 2050, as indicated by the United Nations and currently, 60 percent of the population is under the age of 25, making Africa the world’s youngest continent.
The burgeoning youth population is both an opportunity and a challenge for the continent.
Internet, digital penetration, and engagements of African youth increased from 24.4 percent in 2018 to 90 percent in 2020 indicated by ITU Digital world (Child Online Protection Organisation). But most of the activities online by the youth are not very productive even though great career and financial opportunities abound online.
Such a high number of young people is an opportunity for the continent’s growth, but only if these new generations are fully empowered and trained to realise their best potential.
The United Nations estimates that 16 million young Africans are facing unemployment. On average, 11 million young people join the African labour market each year, yet the continent generates only 3.7 million jobs annually, a gap too wide to be ignored.
It is to this effect that Geldex Invest, a multi-regulated broker, as part of its 1st commemoration is embarking on this Digital Finance programme for the youth.
The International Market Analysis Research and Consulting (IMARC) group predicts a compound annual growth rate of six percent for the forex industry in the next five years.
The industry is green in Africa, especially in Ghana – the more reason why there is need to study and train to bridge the educational and capacity gap in the hope of future opportunities.
Geldex Invest has made its mark in the African Financial industry with its operations in this short time.
The official sponsor of the African Financial Traders awards 2021, in collaboration with Women in Forex Ghana, under her initiative ‘The Elevate Ghana Forex Project’, has trained over 400 youths in forex education across four regions since the beginning of the year, 2022, and continues to impart financial literacy into the youth.
The goal is to adequately equip the youth with the skill set that is relevant in this pandemic era for a better livelihood, gear the youth toward productive online engagements, and reduce cybercrime while helping government’s policy to reduce unemployment.
