Financial Capability and Asset Building (FCAB) for Persons with Disabilities in Ghana: the Role of Social Workers

The Relevance of Financial Capabilities Development by Social Workers in Alleviating Poverty

“…In its application, financial therapy integrates cognitive, emotional, behavioral, relational, and economic aspects that promote financial well-being (Abramovitz & Sherraden, 2015). During financial therapy, social workers use psychotherapy to address emotional problems and disorders associated with the financial ill-health of the client (Naam et al, 2013).…”

“…Regarding social workers' interventions in facilitating the development of financial capabilities targeting vulnerable populations in the communities, social workers may collaborate with financial institutions and organizations representing vulnerable groups (Naam et al, 2013). Naam et al (2013) further recommend that social workers should assist vulnerable groups in establishing self-help groups for vulnerable populations that will, in turn, provide microfinance for members of vulnerable groups.…”

“…Regarding social workers' interventions in facilitating the development of financial capabilities targeting vulnerable populations in the communities, social workers may collaborate with financial institutions and organizations representing vulnerable groups (Naam et al, 2013). Naam et al (2013) further recommend that social workers should assist vulnerable groups in establishing self-help groups for vulnerable populations that will, in turn, provide microfinance for members of vulnerable groups. Greaney et al (2016) assert that self-help groups could improve the financial capability of vulnerable groups as members of the vulnerable populations could be able to bring their financial resources together, and selfhelp groups manage loan repayment, which in turn, the proceeds would benefit the members of the vulnerable populations.…”

“…Greaney et al (2016) assert that self-help groups could improve the financial capability of vulnerable groups as members of the vulnerable populations could be able to bring their financial resources together, and selfhelp groups manage loan repayment, which in turn, the proceeds would benefit the members of the vulnerable populations. Naam et al (2013) suggest that social workers could establish partnerships with leaders of religious and traditional societies to support vulnerable populations to develop microfinance schemes as a fund from which members could take loans with little interest or with no interest for more extended loan periods. To provide technical support to these microfinance schemes, social workers could also partner with financial service providers for startup capital to provide financial resources to the financial service provider business for vulnerable groups (Naam et al, 2013).…”

Financial Capability in Africa: Innovation Through Evidence, Practice, and Policy

“…Ofori-Acquah et al (2022a, b) examine how technologically oriented policies, regulations, and infrastructure development foster trust in financial institutions. Naami et al (2022) argue that existing programs and policies for people living with disabilities should incorporate financial capability interventions to break the cycle of poverty. Another paper by Ofori-Acquah et al (2022a, b) presents a policy analysis of Ghana's National Financial Inclusion and Development Strategy.…”