Promoting Inclusive Markets and Financial Systems
Why invest in young people? Launching the Banking on Change Youth Savings Group Model
Did you know that whilst almost half of young people in sub-Saharan Africa say they save, 80 percent do not have a bank account? Young people aren’t joining traditional savings groups either; a survey in 2013 found that of 103 organisations that promote savings groups in 43 countries, only 22 percent include youth or child-focused groups.
Why don’t young people join savings groups, and is it worth investing in them? Banking on Change, a partnership between Barclays, Plan International UK and CARE International UK, set out in 2013 to find out. Three years on, Banking on Change has formed 11,715 Youth Savings Groups (YSGs) with 245,000 members. Join this webinar to find out more about the Banking on Change approach and impacts - and why and how your organization should consider investing in youth too.
The Banking on Change Youth Savings Group Model features 10 Principles which together make up a "How To" guide for NGOs and other organizations to set up effective, sustainable savings groups for young people. Presenters will talk through the Principles during this webinar.