MEDA Blog

The Future of Women’s Financial Inclusion: Three Key Takeaways from #MFWW2017

wwb 01croppedDesigning for Behaviour Change panel Last month, I had an amazing opportunity to attend the Women's World Banking 2017 Making Finance Work for Women Summit (MFWW). Over 300 participants gathered in Dar es Salaam from across the African continent and the globe, representing various organizations, institutions, and firms, to engage and deliberate on key trends, topics, opportunities and challenges concerning women's financial inclusion. I was inspired by the speakers and panelists who shared their stories, insight and vision for the future of women's financial inclusion.

In this post, I want to share three key takeaways I have reflected on after returning from the Summit. My hope is that they give a glimpse of the event and speak to my own learning about the state of women's financial inclusion and what the future may hold.

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Financial Inclusion for Nigerian Youth

MAP Nigeria Cross River
CUSO Youth
CUSO
The start of something new, something based on MEDA's experiences in Morocco

MEDA recently launched its partnership with CUSO International to improve financial inclusion for youth in Nigeria. The project titled Youth Leadership, Entrepreneurship, Access and Development (YouLead) will work with young women and men in Cross River State, Nigeria.

Nigeria is Africa's most populous country and the unemployment rate stands at approximately 20%, with youth unemployment at almost double this rate at 35%.

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Why access to financial services can open doors for young entrepreneurs

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I was invited to speak briefly at Chemonics last week on what I thought was an important component to support youth enterprise development. As one of MEDA's core areas of experience, I decided to talk about providing access to appropriate financial services for youth. Here's why I think this is one crucial component to enable youth enterprise development...

Global youth dominate the ranks of the unemployed. Demographic challenges, gender barriers, education or skill mismatch, and unsafe or poorly paid work are among the many difficulties that youth face in the search for economic opportunities. This is something we saw clearly illustrated in the Arab Spring. Compounding these challenges, entrepreneurial youth typically have limited access to financial services that meet their business development needs – this can be because their loan requests are often small and too costly for Microfinance Institutions (MFIs) to administer.

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