Financial Services for Young People: Prospects and Challenges

Countries

Malawi Eswatini Ethiopia Benin Zimbabwe Guinea-Bissau Rwanda Mali Mozambique Gambia Somalia Nigeria Kenya Togo Burkina Faso Chad South Africa South Sudan Côte d’Ivoire Sierra Leone Niger Democratic Republic of Congo Senegal Eritrea Cameroon Zambia Tanzania Ghana

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The MasterCard Foundation has explored financial services for young people by testing approaches to reaching low-income young people with financial services and education.

Financial Services for Young People: Prospects and Challenges is a review of early insights and learning based on our youth financial services projects.

In this paper, which was prepared with The Boston Consulting Group, we learned about:

1
The need for financial services among low-income young people
2
Promising indications of the benefits of financial access
3
The business case for providing financial services to young people
4
Where donors and social investors can deepen their focus on young people
5
How a conducive regulatory and policy environment could be enhanced for both financial inclusion and youth development agendas