About 59 percent of the Ghanaian population does not have access to formal financial services.
While 36 percent do not save, 44 percent of the population do not use any form of financial services.
A little over 1 million people out of the countryâ€™s population of 25 million are part of formal pension schemes.
These are contained in a statement issued by the ProCredit Savings and Loans Company on the occasion of the World Savings Day.
The statement called for intensified education on savings culture and the introduction of innovative financial services to attract the unbanked population.
It also called for strict monitoring of financial institutions by the appropriate regulators to protect customerâ€™s deposits.