REPORT: The Banking on Change Youth Savings Group Model, March 2016

Organization/Affiliation(s): 
Barclays, CARE International UK, Plan UK
Resource Type: 
Publication Date: 
Mar, 2016

Banking on Change is currently one of the largest programmes working with youth savings groups (YSGs). In Phase 1 of the programme, from 2009 to 2012, the focus was on savings groups more broadly; in Phase 2 we have focused on YSGs in Egypt, Ghana, India, Kenya, Tanzania, Uganda and Zambia. Between June 2013 and December 2015 the programme established 11,725 YSGs with over 245,000 members, of whom 132,000 are under 25 and two-thirds are women. The core objectives of the programme are to provide young people with the financial skills to manage their money better; and to train a subset of young people in entrepreneurship and employability skills, to help them start and grow small businesses. Banking on Change also aims to link mature informal village savings groups to formal banking products and services. This linkage is always savings- led, encouraging disadvantaged people, and particularly young people, to begin their journey to financial inclusion by saving collectively.

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Topic: 
Workforce Development
Financial Inclusion
Enterprise Development
Regions: 
Global
Tags: 
Economic Empowerment
Financial Capability
Financial Literacy/Education
Youth