Financial Literacy and Educational Incentive Program for Adolescent Girls in Ghana

In this study, we enrolled about 1,400 girls aged 9 to 13 living in rural Ghana in a randomized control trial to improve their financial literacy, savings, and educational outcomes. In one study arm, girls received funds (about $15 USD) in a small savings account at a local bank and were given a short training course on financial literacy. In another arm, girls attended weekly girls’ club meetings focused on nutrition, health, maintaining friendships, peer pressure, cooking competitions, and self-esteem exercises, in addition to the financial literacy training and savings accounts. Girls assigned to the third study arm did not receive any interventions and serve as our comparison group. We then assessed the effects of these interventions on girls’ financial knowledge, savings behaviors, educational attainment, health and nutrition, and sexual and reproductive behaviors. This intervention was led by Professor Shelley Clark at McGill University and funded through the RISING program at the Population Council. By embedding the intervention in a longitudinal study, we were also able to collect information about the girls’ development at baseline and for three years post-intervention. The longitudinal study was part of the Nutrition Links project, which was under the leadership of Professor Grace Marquis at McGill University and funded by Global Affairs Canada.