Management of Bethniel Financial Technology has launched the African Observations Application (AO App), a Mobile Application, to help people make better and informed financial decisions.
The App will provide relevant financial information, transformative financial education, and engaging financial advice.
Mr Norbert Dziwornu, a Product Manager of Bethniel Financial Technology, in a statement issued in Accra, said the App was tackling the root problem of low financial literacy levels in Ghana and Africa at large.
It said the App was currently available on the Google Play Store and would soon be available on the Apple App Store.
The statement said indications were that individuals would not want to waste their money or investment on something that did not yield the best returns and that most people in Africa were unable to make better financial decisions simply because they did not have access to quality financial information, education, and advice.
“This is emphasised by S&P’s Global Financial Literacy Survey which reports that African countries score the worst in terms of financial literacy in the world. At a continent level, financial literacy in Africa is below 45 per cent,” it said.
The statement said the Report also indicated that financial literacy in Ghana stood at 32 per cent.
It said the App was multi-faceted and organised into Markets, Advice, Media, Monthly Observations, and Rewards, for easy use by all.
The statement said the Markets section gave users information about different financial markets and products such as Mutual Funds, Fixed Incomes, and Currencies.
It said the Advice section allowed users to gain advice from experts as well as experiences and opinions from other App users while the Media section gave users insightful financial content in the form of podcast shows, videos, webinars, news, and blogs articles.
The statement said the Monthly Observations gave a snapshot of financial markets and investment tips monthly while the Rewards section incentivized users towards financial excellence by giving points that could later be converted to cash.
Mr Edward Akani, the co-founder of Bethniel Financial Technology, in the statement, said the App had already been tested by over 100 people and encouraged all to get the App from the Google Play Store to help them make better and informed financial decisions.