Research1 has shown that benefits from savings groups can go beyond asset building and savings for youth, and provide working youth with their own solidarity groups in which they find peer support and social security. They can also expose youth members to other financial service concepts, such as borrowing, banking, and income generating activities, which are taught through orientations and workshops. This blog seeks to further strengthen existing research on youth savings by showcasing MEDA's project titled Ethiopians Fighting Against Child Exploitation (E-FACE).
Village Savings Associations for Youth (VSAYs) are one aspect of a multi-pronged approach to supporting Ethiopian youth in the E-FACE project. MEDA's youth team recently undertook a visit to Addis Ababa to explore savings behavior among youth, including changes in their livelihoods, behaviors and working environment as a result of their participation in savings groups. Field observations, interviews and focus group discussions with VSAY members and their parents revealed a number of important changes.