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Dec
07

Supporting Youth Entrepreneurs: Monitoring the Youth Entrepreneurship Business Support Plan

YEBSP field visitEmeka (Youlead Finance Inclusion Officer) visiting one of the YEBSP grantees at her place of business
For the last five years, MEDA has partnered with Cuso International in Nigeria on the Youth Leadership, Entrepreneurship, Access and Development (YouLead) project. The Youth Entrepreneurship Business Support Plan (YEBSP) is just one of the many activities aimed at improving financial inclusion for young entrepreneurs in Cross River State. Three cycles of the business plan competition have been launched over the course of the project (see last blog with full update at Youth Enterprise Business Support Plan (YEBSP)).
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Jun
11

Small Grants to Kick-start Youth-led Businesses in Nigeria: The Youth Entrepreneurship Business Support Plan (YEBSP)

cycle1granteesGrantees of the YEBSP 1st Cycle
Since 2014, MEDA has partnered with Cuso International in Nigeria on the Youth Leadership, Entrepreneurship, Access and Development (YouLead) project. The Youth Entrepreneurship Business Support Plan (YEBSP) is just one of the many activities aimed at improving financial inclusion for young entrepreneurs in Cross River State.

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May
31

Saving for Good: Village Savings and Loan Associations (VSLA) on the GROW Project

VSLAThe perception that microfinance is improving the lives of low income families has been a hot topic among development professionals for the last decade. There are many debates and arguments in the media about whether microfinance has positive or negative impacts on the livelihoods of economically disadvantaged communities. There is no one right answer to this question. It all depends on the institution’s mission and purpose. In fact, there are various financial services providers who have been part of the movement for all these years, some for social reasons some for profit.
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Nov
27

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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May
09

What can we learn from Project Evaluations? MEDA Shares Results of Impact Evaluation

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From 2008 to 2014, MEDA implemented the YouthInvest project in Morocco and Egypt.  During that time, we reached over 63,000 youth with financial and non-financial services, and built the capacity of our partner staff to provide skills training and financial products to youth.

But this is not the whole story.

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Jan
18

MEDA's Evolving Approach to Youth Financial Inclusion

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ARDI Client Carpenter

On Friday January 22, MEDA is very pleased to be participating in the International Forum, hosted by WUSC and CECI. The theme of the forum is ‘Inclusive Economies, Inclusive Societies: Collaborative Action for Youth and Women.’ We will be presenting a case study on our approach to financial inclusion for youth. This blog gives a preview of what we will be discussing at the event. Hope to see you there!

What is financial inclusion and why is it important?

Financial inclusion means having access to a range of suitable, affordable services, including savings (formal and informal), loans and financial education. Access to youth-appropriate savings and loan products helps young people plan for their future. Youth-friendly financial services can lead to many positive outcomes, including heightened ability to manage money, build assets and improved opportunities for entrepreneurship. And yet, less than 5% of youth (ages 15-24) worldwide are currently being reached by financial services.

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Dec
24

Youth Agricultural Sales Agents: Building Youth Entrepreneurship in Rural Areas

This blog shares a summary of the findings and lessons from the E-FACE project’s pilot intervention to build youth entrepreneurship among rural communities in Gamo Gofa and Wolaita districts in Southern Ethiopia. The full case study can be found on MEDA’s YEO website.

The Youth Agricultural Sales Agent (YASA) program provided 250 young people (138 male, 112 female), aged 14 to 17 years, with business skills training to increase their knowledge of markets, as well as life skills training to improve their confidence and communication. The technical and entrepreneurial skills provided by the training program were complemented with start-up kits to transition the youth from exploitative labor to productive work.

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Nov
13

Access and Marginalization: An Overview of Lessons Learned from the YouthSave Webinar

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On October 9th, 2015 USAID’s Microlinks platform, in association with The MasterCard Foundation and Save the Children, hosted a discussion and webinar titled, “Pathways to Development: Evidence from YouthSave.” The purpose of the event was to bring together researchers and practitioners to share their experiences and insight gained on youth savings, spurred by the completion of the 5-year YouthSave project.

YouthSave, "A Report of the YouthSave Consortium: YouthSave 2010-2015," (Oct 2015): pg 8.

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Oct
19

The Role of Parents and Families in Youth Financial Inclusion

The United Nations Population Fund reports that there are 1.8 billion young people between the ages of 10 and 24, with 89 percent of them residing in less-developed countries (2014). With appropriate knowledge and tools, youth can be financially empowered to access economic opportunities in a sustainable manner. Although they represent a large potential market, the integration of youth into the formal financial system is still a relatively new concept in many countries. In order to address these operational issues and explore innovations in this area, the SEEP Network’s Youth and Financial Services Working Group commissioned and wrote four Promising Practices Briefs. The topics of the briefs were selected during a series of consultations held with Working Group members in January 2015.
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Sep
29

Incentives, Subsidies, and Complementary Services to Promote Youth Financial Inclusion

This blog originally appeared on The SEEP Network Blogg, co-authored by Jennifer Denomy and Rebecca Hession.

The United Nations Population Fund reports that there are 1.8 billion young people between the ages of 10 and 24, with 89 percent of them residing in the world’s least developed countries (2014). With appropriate knowledge and tools, youth can be financially empowered to access a range of economic opportunities over the course of their lives. Although they represent a large potential market, the integration of youth into the formal financial system is still a relatively new concept in many countries. In order to address these operational issues and explore innovations in this area, the SEEP Network’s Youth and Financial Services Working Group commissioned and wrote four Promising Practices Briefs. The topics of the briefs were selected during a series of consultations held with Working Group members in January 2015.

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Sep
15

Usage and Dormancy of Youth Accounts

This blog originally appeared on The SEEP Network Blog, co-authored by Jennifer Denomy and Rebecca Hession.

The United Nations Population Fund reports that there are 1.8 billion young people between the ages of 10 and 24, with 89 percent of them residing in less-developed countries (2014). With appropriate knowledge and tools, youth can be financially empowered to access economic opportunities in a sustainable manner. Although they represent a large potential market, the integration of youth into the formal financial system is still a relatively new concept in many countries. In order to address these operational issues and explore innovations in this area, the SEEP Network’s Youth and Financial Services Working Group commissioned and wrote four Promising Practices Briefs. The topics of the briefs were selected during a series of consultations held with Working Group members in January 2015.

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Aug
13

Effective Integration of Financial Services into Economic Opportunities Programming for Youth

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How can financial services be effectively integrated into economic opportunities programming for youth?

The SEEP Network’s Youth and Financial Services Working Group, facilitated by MEDA, recently completed a series of learning documents which highlight promising practices in youth financial services, illustrated by examples from multiple projects and stakeholders. In a series of member consultations, four topics were identified as areas of particular interest:

  • Integrating youth financial services into economic opportunities programming
  • Understanding usage and dormancy of youth savings accounts
  • Using incentives, subsidies and complementary services to promote youth financial inclusion
  • Understanding the role of parents and families in youth financial inclusion

A learning document was created to explore each topic, with full publications available here: http://www.meda.org/publications/seep-youth-and-financial-services-working-group

We will profile each in a blog entry over the coming weeks, starting with today’s topic: integrating financial services for youth into economic opportunities programming.

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Jun
14

Praxis Series - Entry 3: Is there a business case for youth services? – We think so!

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Youth under the age of 30 comprise over 50% of the global population. However, when thinking about offering financial services targeted at this age group, financial service providers (FSPs) often overlook this up-tapped reservoir, particularly in rural areas.

MEDA's YouthInvest project worked closely with Moroccan Microfinance Institutions (MFIs) – Fondation Ardi, Attadamoune and INMAA – to explore questions around the feasibility of integrating youth into their portfolios and whether this made good business sense. Through intensive discussions with MFI management and tailored frontline staff training, we discussed the benefits of working with youth, as well designing new financial credit products that would enhance the MFIs' bottom line.

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May
21

Assessing micro-finance institutions in Cross River State

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This blog is an update on the previous entry on the Financial Inclusion for Nigerian Youth, dated February 9, 2015.


MEDA is partnering with Cuso International to improve financial inclusion for youth in Nigeria. The project titled Youth Leadership, Entrepreneurship, Access and Development (YouLead) works with young women and men in Cross River State, Nigeria.

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Mar
03

Saving(s) the Future!

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Savings has been lauded as one of the strongest levers of financial inclusion. Grounding itself in this scholarship, from the outset of the project, YouthInvest has made savings one of the pillars of its financial inclusion strategy in Morocco.

YouthInvest has encouraged youth to save by providing them with training on financial education as well as enabling them to access a low-minimum balance savings account made possible through a partnership with Al Barid Bank in Morocco. (The YouthInvest team managed to decrease the minimum deposit amount from 100 MAD to 5 MAD by negotiating with the banking institution).

While the savings component was incorporated into most aspects of YouthInvest's programming in Morocco, two particular initiatives made education on savings behaviour their tenants:

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Jan
28

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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