CYFI News & Blog

Latest news and articles from Child & Youth Finance and the CYF Movement Network

Child-friendly Product Development Workshop hosted in Malawi

​ CYFI, in cooperation with the hosting partner the Reserve Bank of Malawi, organized a Product Development Workshop for financial institutions in Malawi, that took place on 12th and 13th April in Blantyre, Malawi. 

The workshop had attendance and delegates from the major commercial banks, as well as the deposit-taking microfinance institution. In addition, the workshop was joined by officials from the Reserve Bank of Malawi who provided input and feedback from the viewpoint of the financial sector regulator. The workshop was moderated by CYFI experts, and covered topics such as the importance of financial inclusion for young people, needs and wants of youth, product design and marketing channels, and other aspects related to the development of savings and current accounts for children and youth in Malawi.

The workshop provided a platform to start discussions on the importance of financial education and financial inclusion of young people in Malawi, and to guide the local financial institutions in the process of developing child and youth-friendly banking products. The two-day workshop served as a space to exchange best practices and experiences, and present case studies that were achieved across the world, and especially within the Africa and SADC regions. 

At the end of the workshop, one of the participants stated "we recommend a shift on the legal perspective, and our institution can be one of the key drivers of the policy change", and another stated "if we can support and take youth seriously, the sky is the limit". The participants' evaluation of the workshop received the score of 4.5 and above on many topics, such as the presentation of topics, the usefulness of the presentations as future reference, and knowledgeability and responsiveness of the trainers.

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Product development workshop in Ivory Coast

CYFI facilitated a product development workshop in Abidjan, Ivory Coast on the 23rd, 24th and 25th of November. This workshop had been organized in partnership with the Program of Financial Education of the Ministry of National Education. 

The Program of Financial Education (PFE) of the Ministry of National Education in Ivory Coast aims at enhancing the financial knowledge of the entire educational community hence, in particular focusing on children and youth in Ivory Coast. The program, established in 2013 with the intention of tackling the challenge of over indebtedness of teacher that had negative consequences on the teaching quality, has already reached 24.000 adults and 60.000 children. 

The PFE is also CYFI's partner in the country and leader of the Global Money Week campaign in the country. During the last edition of the Global Money Week, more than 15 events were organized at national level and around 21,700 children were reached. However, Ivory Coast is one of the countries of the region where financial inclusion of youth is amongst the lowest. In an attempt to  raise awareness of this matter and engage the private sector towards oriented action, the PFE organized the Product Development Workshop. The workshop aimed at making the case of the importance of youth financial inclusion and guide the local banks and financial institutions in the process of developing child and youth-friendly banking products.

A part of strengthening the collaboration between different key institutions in the country in financial education and inclusion, the workshop laid the ground for the implementation of the SchoolBank project in the country. It is expected that the project implementation will start in the first quarter of the year, in collaboration with local schools, the Ministry of Education, the Plan for Financial Education and GTBank.

For more details, information regarding the workshop, please follow this link to the report (in French).

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3 events - 1 platform for young entrepreneurs!

CYFI initiative, Ye! community, has been busy working with young entrepreneurs all over the world! With events in Ukraine, Kenya, and India, the sky's the limit for the fastest growing online platform for young entrepreneurs!

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Advancing Economic Citizenship for Youth alongside Trade and Development

Financial inclusion, financial capability and sustainable livelihoods are essential components of full economic citizenship, contributing to economic development within and between nations. CYFI works with key UN agencies, such as UNCTAD and UNCDF, to promote full economic citizenship for children and youth through government agencies, private enterprise and civil society.

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YES Cameroon launches financial education training for 6000 micro-entrepreneurs

6000 microfinance entrepreneurs are expected to benefit from a financial literacy project launched on June 14, 2016 by the Youth Employment Services (YES) Cameroon and the Association of Entrepreneurs in Cameroon (AEC). The project beneficiaries will be selected from all 10 regions of Cameroon and will undergo a five-day intensive training on topics including, budgeting, debt management, savings, negotiations, insurance and micro-credit. They will also receive training on effective entrepreneurship.

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CYFI SchoolBank workshop success in Zimbabwe

On 23 and 24 May Child and Youth Finance International (CYFI), in collaboration with the People’s Own Savings Bank (POSB) Zimbabwe, organized a SchoolBank Workshop in Harare, Zimbabwe. The two-day event was attended 25 participants, including branch managers of POSB Zimbabwe and employees of the Reserve Bank of Zimbabwe and the Ministry of Education. It was aimed at providing the participating institutions, who will be engaged in a SchoolBank Zimbabwe pilot, an understanding of the principles and operational modules for a SchoolBank project.

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Developing child and youth-friendly financial services in Zambia

Child and Youth Finance International (CYFI) in collaboration with the Bank of Zambia (BoZ) organised a two-day product development workshop on May 9 and 10, 2016, at Protea Hotel Lusaka. The objective of the workshop was to train Zambia´s financial services providers (FSPs) on how to develop innovative, appropriate, and cost effective savings accounts for children and youth. It also aimed at training participants on how to link product portfolios for children and youth to financial education.

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Making Financial, Social and Entrepreneurship Education Stick in Southern Africa

South Africa has taken great strides forward in building the financial capability of its young generations through the StarSaver™ Programme. On April 7th and 8th, the South African Banking Association South Africa, together with the National Department of Basic Education and Aflatoun International, held a regional seminar to promote dialogue and strategies on how to align social education, financial literacy and entrepreneurship education in schools across the country while aligning this initiative with the targets of the Sustainable Development Goals (SDGs), Education 2030 and various National Development Plans (NDPs) in Southern Africa.

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Product Development Workshop great success for Nigerian banks

Together with the Central Bank of Nigeria and LYNX, Child & Youth Finance International (CYFI) successfully organized a Product Development and Capacity Building Workshop for Financial Institutions in Nigeria.

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Youth Focus at Efma’s First Pan-African Retail Banking Summit

Efma hosted the first annual Pan-African Retail Banking Summit in Johannesburg, South Africa on February 11-12, 2015. The Summit provided a forum for delegates to network and discuss the latest trends and innovations in financial inclusion in retail banking in Africa.

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Policy Pledge for a Generation of Financially Capable Young People

Today is the last day of the 3rd Annual Child & Youth Finance International (CYFI) Regional Meeting for Africa. Held at the African Union Headquarters in Addis Ababa, Ethiopia, the meeting brought together Africa’s finest policy makers, educators, research and academic institutions, financial service providers, as well as representatives from various government ministries. The main objective of the meeting is to develop a common African position on the advancement of a unified financial education and inclusion plan of action for children and youth across the continent.

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Ethiopian Airlines & African Union Commission Flying the CYF Movement Flag High!

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Webinar: How Can Microfinance Be More Inclusive To Children and Youth?

Join us on Wednesday, March 12 at 2:00 - 3:00 PM CET, as Child & Youth Finance International will be co-hosting a webinar with the Microcredit Summit Campaign, this webinar explores how microfinance can be more inclusive to children and youth. A small but increasing number of MFIs offer financial and non-financial services to children and youth. They are building the next generation’s capability to save, build assets, and, if needed, take (micro)loans to support their enterprises.

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Ummeli – Youth Workforce Development Mobile Platform

Two years since it launched, Ummeli is about to reach 250 000 users, turning it into the leading workforce development mobile platform in Africa.

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Africa’s mobile youth drive change

The sight of teenagers selling mushrooms using mobile phones is becoming a familiar one in rural Namibia. Namibia Polytechnic faculty member Maurice Nkusi, designer of a cell phone–based curriculum, told the TechDailyNews that most of these children have never even used a computer. But the rapidity with which they master new technology reflects the era in which they are living.

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Pesacard: A Smartcard to Boost Financial Empowerment of Children in Kenya

In Kenya, 75% of the country’s 40 million citizens own a mobile phone and a similar percentage of that sector uses mobile money services, particularly M-PESA. Behind the scenes, the key player driving financial inclusion is not a bank but the leading mobile phone service provider – Safaricom.

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Youth Spoke to Leaders and Policymakers during last day of CYFI Africa Meeting

Youth Spoke to Leaders and Policymakers during last day of CYFI Africa Meeting

The last day of the CYFI Regional Meeting for Africa started off with celebratory spirit as Global Money Week, and how to celebrate it was presented. Global Money Week is a global event of national initiatives coordinated by CYFI focused on engaging children in learning how money works, how to save, creating a livelihood, gaining employment, and becoming an entrepreneur. CYFI shared a toolkit for supporting national stakeholders that outlines the details of joining, designing and organizing initiatives for the upcoming Global Money Week celebrations in March 2014. The session was followed by workshops on the topics of Economic Citizenship Education, Sustainable Livelihoods and Youth Employment as well as Financial and Educational Services. 

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Mobile Merchant Payments offers the Biggest Opportunity for Financial Inclusion among Youth-Owned Enterprises in Africa

Income-generating micro and small enterprises (MSEs) are one of the main instruments of economic empowerment for millions of young entrepreneurs in Africa. Micro-enterprises also provide employment opportunities to millions of youth across the continent

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Summary of Day 1 of CYFI Regional Meeting for Africa

Summary of Day 1 of CYFI Regional Meeting for Africa

 

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Press Release: CYFI Regional Meeting for Africa

Press Release:  CYFI Regional Meeting for Africa

18 September 2013

FOR IMMEDIATE RELEASE

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