Scale2Save Campaign
Micro savings, maximum impact.
Africa is young. Almost 70% of its people are estimated to be under 30 years of age. It faces a youth challenge, at a time when population growth elsewhere has already slowed or stalled.
Across sub-Saharan Africa, young people account for half of the remaining financial excluded, but they have been catching up fast. In Northern Africa, where demographic trends are more mature the young are a smaller proportion of the unserved. But they remain oftentimes still disproportionately unserved. Given this backdrop, young people in Africa can benefit from financial inclusion. Financial service providers can support them. Within the remaining excluded group one finds young adults living in the parental home. Transitioning into full adulthood, they are expected one day to become heads of household. Mid-teens and youth already set up businesses and find ways to save through digital means. All young people are more at ease with digital technologies than their parents. New initiatives can reach these unserved young people
Research found in this report looks at how younger sections of the population manage their money. Drawing upon data collected in the field, this study aims to find the best paths by which financial institutions can connect with young people. Data drawn from internationally recognised bodies and fieldwork feed the study’s quantitative research element. Qualitative research done through focus group discussions and working sessions enriches the information.
Young people in Africa Research showing opportunities for financial service providers in Morocco, Nigeria and Senegal
