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3346

 

March 12, 2014

MasterCard and Child & Youth Finance International Publish Guide During Global Money Week

 

To tweet this news, copy and paste http://mstr.cd/1kiaJiM to your Twitter handle with the hashtag #FinancialInclusion and #GlobalMoneyWeek

 PURCHASE / AMSTERDAM March 12, 2014MasterCard (NYSE: MA) and Child & Youth Finance International (CYFI) today announced the publication of “Banking a New Generation: Developing Responsible Retail Banking Products for Children and Youth.”  The publication is timed to coincide with Global Money Week and will help financial institutions, NGOs and governments co-create appropriate and innovative banking and payment products for children and youth.

Of the 2.2 billion children in the world, on average only 37.9% of young people aged 15 – 25 have a traditional banking account such as checking, savings or card.  MasterCard and CYFI share the belief that enabling financial inclusion and economic citizenship education for children and youth is critical for a more inclusive economy around the globe.  Without this access, young people can’t save or invest in their future.

To help financial institutions and other stakeholders understand and use the guide, CYFI and MasterCard are conducting a webinar on Monday March 17th.  The webinar will cover:

  • The guiding principles for responsible financial products for children and youth;
  • Why a financial institution should invest in the child and youth segment;
  • Some key relevant features of the child and youth segment;
  • What makes a good child and youth friendly product proposition; and
  • Considerations regarding the product development process.

“Every child and youth has a right to safe, accessible financial services, and we need to empower them to grow into productive economic citizens,” said Anna Zanghi, Global Lead of Youth Segment Product, MasterCard. “Our goal in working with CYFI is to expand access to safe, secure and responsible financial products and services for young people that enable them to start to save for the future and pursue goals such as higher education and entrepreneurial ventures.”

“Roughly half of the world’s population is under the age of 25 – and building their financial capabilities requires a concerted effort from the public, private, and social sector,” said Jeroo Billimoria, CYFI Managing Director. “In working with MasterCard we have been able to translate children’s rights into the banking product development process resulting in what we hope is a useful resource for banks”

Global Money Week, celebrated in over 90 countries around the world, is the leading global celebration engaging young people in conversations about their (financial) future.  It also serves as a rallying call for financial institutions to become more child and youth friendly and ensure that young people have access to the proper education and products they need to become empowered economic citizens. More on Global Money Week on www.globalmoneyweek.org.

 

View/Download (.pdf):  Banking a New Generation: Developing Responsible Retail Banking Products for Children and Youth

 

About Child & Youth Finance International (CYFI)

CYFI is a non-profit organization established in July 2011 and based in Amsterdam. The organization focuses on increasing financial inclusion and economic citizenship education for children and youth, so that every child can graduate from primary school with financial education and a savings account they own and operate. The target for CYFI’s global movement, launched in April 2012, is to reach 100 million children in 100countries by 2015. CYFI has reached over 18 million children and youth around the world and has begun collaborations with stakeholders in over 100 countries. CYFI has built global knowledge and shares resources on best practices and industry research. More information about the organization is available at www.childfinanceinternational.org.

About MasterCard

MasterCard (NYSE: MA), http://www.mastercard.com,is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.

Media Contacts:

Ryan Erenhouse

MasterCard

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Phone: +1 914 249 3176

 

Robin Willing

Child and Youth Finance International

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

hone: +31 20 5203 900

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4686

As the spirit of Global Money Week continues and our partners in the financial sector are showing more interest in developing products for children and youth, we thought this was the perfect opportunity to organize a webinar and raise the question of whether there is a business case for youth services.

Join us on Thursday, March 20 at 2:00 - 3:00 PM CET, as Child and Youth Finance International (CYFI) will be co-hosting with the United Nations Capital Development Fund (UNCDF) and the Union des Coopecs Umutanguha (UCU), a free webinar to discuss the business case for Financial Services Providers (FSPs) offering financial products or services for children and youth.

Together with Ms. María Perdomo, Youth Start Programme Manager for UNCDF, and Mr. Jules Théoneste Ndahayo from UCU, we will be reviewing UNCDF’s latest publication: “Building the business case for youth services: Insights of the YouthStart Programm”. This paper aims to take the first steps in demonstrating that youth are a viable market and focuses on the business case for serving youth if FSPs follow three pathways to profitability of youth services: i)Optimizing expenses; ii) Increasing savings volume; and iii) Increasing return from youth.

Registration Details

Topic: Building the business case for youth services

Date: Thursday, March 20, 2014

Time: 2:00 - 3:00 PM CET

Registration: Click here to login

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3597

Presentation of a CYFI/MasterCard Guide

Join us on Monday, March 17 at 2:00 - 3:00 PM CET, as Child and Youth Finance International (CYFI) will be co-hosting with MasterCard a webinar that presents a brand new Guide for leading national and international financial institutions with an ability to drive significant outreach (1 million+). The Guide is relevant for those organizations who are evaluating an existing investment in financial products for children and youth, and for those debating whether to enter the segment for the first time. The Guide is intended to help decision makers, products owners and all stakeholders in the product development process understand the impact of working with children and youth, and provide guidelines on how to develop appropriate innovative banking and payment products, while respecting and supporting children’s rights.

In a presentation and conversation, the webinar will discuss the guiding principles for responsible financial products for children and youth; why to invest in these segments; some key relevant features of these segments; what makes a good child and youth friendly product proposition, and considerations regarding the product development process.

CYFI and MasterCard will present highlights from the Guide and examples of banking and payments products from across the globe.

CYFI and MasterCard invite anyone who is interested to join the free webinar! MasterCard and Child & Youth Finance International announced a global strategic partnership in January 2014 aimed at improving the financial inclusion of children and youth. This Guide is a first outcome of this partnership.

This webinar is part of Global Money Week (GMW), the annual global awareness week (10-17 March 2014) organized by CYFI and its partners and stakeholders. GMW creates awareness with children, youth, parents, and teachers around economic citizenship education and financial inclusion for children and youth.

Registration Details

Topic: Presentation of CYFI/MasterCard Guide on Child and Youth Friendly Product Development

Date: Monday, March 17, 2014

Time: 2:00 - 3:00 PM CET

Registration: Click here to login

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1488

Join us on Thursday, March 13 at 2:00 - 3:00 PM CET, as Child & Youth Finance International will be co-hosting a webinar with the World Savings Banks Institute (WSBI), on how retail and savings banks are working to ensure the financial inclusion of youth around the globe.

Taking from the example of WSBI member Microbank (Spain) which through La Caixa offers a complete package of financial services to youth, global trends, challenges, and opportunities will be explored around financially including youth. WSBI, the global association of savings and retail banks, supports their members’ activities on financial inclusion including youth and has seen increasing efforts over the past years by its members. WSBI is monitoring evolutions worldwide and channels experience in order to help boost these common objectives. Join us for an engaging discussion with WSBI and Microbank.

This webinar is part of Global Money Week (GMW), the annual global awareness week (10-17 March 2014) organized by CYFI and its partners and stakeholders. GMW creates awareness with children, youth, parents, and teachers around economic citizenship education and financial inclusion for children and youth.

Registration Details

Topic: Savings and Retail Banks and Youth Financial Inclusion

Date: Thursday, March 13, 2014

Time: 2:00 - 3:00 PM CET

Registration: Click here to login

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1913

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.

The webinar features Mr. Walid Ahmed from BRAC Tanzania, who will present on BRAC Tanzania’s “Empowerment and Livelihoods for Adolescents Program” which works to socially and financially empower youth (age 11-19), mostly girls, through a combination of life skills education, livelihoods training, financial literacy, credit support, club activities, and community participation. The program aims to build girls’ confidence, instill a sense of self-worth, encourage positive behavior changes, and improve their quality of life. Mr. Ahmed will discuss the main program features and some key successes, lessons learned and challenges and opportunities ahead.

Taking from the example of BRAC, some key challenges around child and youth inclusiveness of microfinance will be discussed with Mr. Larry Reed, Director of the Microcredit Summit Campaign. As the Campaign focuses on ending extreme poverty, what is the role of financially including children and youth? MFIs addressing youth unemployment and poverty, and children’s financial illiteracy also struggle with financial sustainability, the balance between financial and non-financial services, and capacity development of their staff. Notwithstanding these challenges, the examples of BRAC and others show there are powerful ways for MFIs to create sustainable change. Mr. Reed will also talk about the shared commitments that the Campaign and CYFI have to make microfinance more child and youth inclusive. The Microcredit Summit Campaign and CYFI are partners with a commitment to lifting 100 million households out of extreme poverty and providing 100 million children and youth in 100 countries with a savings accounts and financial education.

This webinar is part of Global Money Week (GMW), the annual global awareness week (10-17 March 2014) organized by CYFI and its partners and stakeholders. GMW creates awareness with children, youth, parents, and teachers around economic citizenship education and financial inclusion for children and youth.

Registration Details

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

Date: Wednesday, March 12, 2014

Time: 2:00 - 3:00 PM CET

Registration: Click here to login

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2314

Barclay Okari Sharing His Entrepreneurship Story

Experiencing instabilities earlier on in my life made me aware of my environment at a young age and drove the desire in me in wanting to be self-reliant. Being young and exposed to entrepreneurial adults around me, I fell in love with entrepreneurship and knew that I had found my calling.

At the age of 11, I was working at a cereal grain store recording and supervising sales. I started saving money to build up capital for a business I had in mind. I saved for three years and started my first internet company SkypeScience, a video sharing website for science ideas, at the age of 15.

Read more at YouthTech 

 

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2808

b2ap3_thumbnail_microcredit-summit-campaign-logo.jpg

The Microcredit Summit Campaign celebrates Global Money Week 2014 (March 10th to 17th) together with Child and Youth Finance International (CYFI) to raise awareness of the importance of financial education and financial inclusion for children and youth.

The Campaign invites its members to join in the celebration and raise maximum awareness for child and youth financial empowerment and inclusion. Global Money Week 2014 will take place from March 10th to 17th and is expected to surpass the celebrations in 2013 in which 400+ organizations from 80 countries reached more than 1 million children and youth.

Follow Global Money Week on Twitter @GlobalMoneyWeek and use the keywords, #GMW2014 and #GlobalMoneyWeek

See more at:

http://www.microcreditsummit.org/news/47/microcredit-summit-campaign-and-child.html#sthash.nxv2WBKv.dpuf

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8270

Finance & Me

Youth are invited to join two dedicated webinars focused on Global Money Week 2014 on Thursday 30 January.

The webinars, led by Child & Youth Finance's youth team, will provide the opportunity for young people to learn about Global Money Week, share their ideas for activities and events, and make a number of online resources available to help in planning events and engaging businesses and adults.

Suggestions for youth include:

  • organizing visits to stock exchanges, central banks, commercial banks, shops and other local businesses to learn about how businesses work and careers;
  • joining international activities (via CYFI) to speak about money with youths from other countries;
  • holding local fundraisers to support youth groups, youth sports, and young entrepreneurs;
  • encouraging teachers and youth group leaders to organize Global Money Week events in your community;

For more information and to join the webinars, please visit the Finance and Me facebook page.

For more information about Global Money Week, please visit GlobalMoneyWeek.org

About Finance and Me

"Finance and Me" is a series of dedicated youth-focused online resources which are provided by Child & Youth Finance International.  FinanceandMe provides all young people who are interested in the Child & Youth Finance Movement the opportunity to get involved, share their voice with leading policymakers, and to Reshape teh Future of Finance. 

Website:  FinanceandMe.org

Facebook:  @FinanceandMe

Twitter:  @FinanceandMe

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4265

Child & Youth Finance Founder and Managing Director Jeroo Billimoria was the guest of NextBillion.net editor James Militzer for a special Google Hangout. The hangout was streamed live on 29 January.

 

 

NextBillion.net is a website and blog bringing together the community of business leaders, social entrepreneurs, NGOs, policy makers and academics who want to explore the connection between development and enterprise.

James and Jeroo covered a wide range of topics during the Hangout including financial inclusion and financial access for children and youth as well as insights into Jeroo's work as a social entrepreneur including Meljol, Childline India, ChildHelpLine International, and Aflatoun. Key moments came as Jeroo mentioned the challenges of youth financial access and encouraging more financial institutions to offer child-friendly savings accounts for young people.

The discussion comes right on the heels of Davos #WEF2014, where financial inclusion was one of the main discussion points.

 

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2246

Danielle wanted to build a website and a mobile application that will help parents teach kids about the value of money, as well as help them manage their allowance, gift and chores money.

This was the inception of the bankaroo idea.

She came up with bankaroo (http://www.bankaroo.com), a free service that is a virtual bank for kids money, where they can save up for goals, use money for different things while their parents can add allowance, chore and gift money into their virtual account. The real money stays in the parents’ wallets, but the virtual representation of it is very real.

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4956

Press Release

Efforts to Advance Financial Inclusion of Children and Youth Get Boost

MasterCard and Child & Youth Finance International Announce Strategic Partnership

To tweet this news, copy and paste http://mstr.cd/1kU3KA0 to your Twitter handle with the hashtag #FinancialInclusion

PURCHASE / AMSTERDAM – January 21, 2014MasterCard (NYSE: MA) and Child & Youth Finance International (CYFI) today announced a global strategic partnership aimed at advancing financial capabilities of children and youth.

Of the 2.2 billion children1 in the world less than 1 percent2 has access to any form of financial education, often exposing them to potential exploitation. MasterCard and CYFI share the belief that enabling financial inclusion and education is critical for promoting the economic and social livelihood of children and youth around the globe.

As one of their first actions, MasterCard and CYFI have joined forces to develop guidelines for responsible financial products for children and youth. These guidelines build on the Children’s Rights and Business Principles adopted by UNICEF and are meant to provide practical orientation for banks that want to serve a younger demographic. The guide will be published this spring and made available to financial institutions, NGOs and government entities.

Comments Ajay Banga, MasterCard President and CEO: “We share CYFI’s vision that every child and youth has a right to safe, accessible financial services and are honored to bring our expertise and experience to this partnership, empowering the young generation to grow into productive economic citizens.”

Jeroo Billimoria, CYFI Managing Director, states: “Roughly half of the world’s population is under the age of 25 – and it takes a broad effort to building up their financial capabilities. We are delighted that MasterCard, a trail-blazer for financial inclusion, is supporting us in our goal to reach 100 million children and youth in 100 countries by 2015.”

Apart from raising general awareness for the specific needs of children and youth, MasterCard and CYFI will partner to define and execute concrete strategies that advance financial inclusion and education. Both MasterCard and CYFI acknowledge the key role that public-private-partnerships can play in furthering this goal and are committed to working together with businesses, governments and NGOs.

About Child & Youth Finance International

Child and Youth Finance International (CYFI) is a non-profit organization established in July 2011 and based in Amsterdam. The organization focuses on increasing financial inclusion and education for children and youth, so that every child can graduate from primary school with financial education and a savings account they own and operate. The target for CYFI’s global movement, launched in April 2012, is to reach 100 million children in a hundred countries by 2015. Child and Youth Finance International has more than 1,000 stakeholders, and the movement has reached over 18,700,000 children around the world, through 140 programs. CYFI has built global knowledge and shares resources on best practices and industry research. More information about the organization is available at www.childfinanceinternational.org. Follow us on Twitter @ChildFinance. Join us for Global Money Week 10-17 March, www.globalmoneyweek.org @GlobalMoneyWeek

About MasterCard

MasterCard (NYSE: MA), http://www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.

Media Contacts:

Bernhard Mors
MasterCard Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: +1 914 325 9676

Robin Willing
Child and Youth Finance International
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: +31 20 5203 900

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15898

A Product Development Guide for the development of Child & Youth Friendly Financial Products

Public Consultation Period

 

Authors: Child & Youth Finance International and MasterCard Worldwide

Child & Youth Finance International (CYFI) and MasterCard Worldwide plan to publish a publicly available resource for major financial institutions around the globe supporting them in their design and development of Child and Youth Friendly financial products. The guide will offer a clear and convincing value proposition to address the child and youth segment and a range of suggestions and insights to support financial institutions in designing and developing financial products that respect and support children’s rights.

The final version of the guide will present case studies of a range of leading financial institutions with financial products for children and youth, elements of which exemplify good practice.

The authors invite all interested parties for their feedback and input during a public consultation period beginning 22 January 2013.

 

Feedback Process

During the period of Wednesday 22 January until Tuesday 4 February, close of business, organizations and individuals will have the opportunity to provide their thoughts, feedback and recommendations for the guide.

Submitted comments and feedback only will be discussed in a webinar scheduled for Wednesday, February 5 at 2pm CET.

A draft version of the guide is now available for downloading on this website using the link below. Comments may be provided via the feedback form.  

Kindly email the completed form to This email address is being protected from spambots. You need JavaScript enabled to view it. on or before Tuesday February 4.

 

Banking a New Generation - Developing Responsible Financial Products for Children and Youth (.pdf)

Feedback Form (.doc)

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5895

Budgeting can be difficult enough for all of us, but it is a skill best learned young. If our children find their pocket money not stretching as far as they’d like, do they know how to manage it? What’s more, with a higher and higher percentage of all teens’ spending happening online, how do parents empower their children to learn great money skills in a totally different spending environment to the one in which they grew up? Let alone providing them with a safe spending solution to use online and in shops.

That’s where goHenry comes in. goHenry is the simple, safe and fun way for young people to learn about managing money in the modern world. The solution includes a cash card for children with parental controls combined with apps that focus on helping children earn, save and spend responsibly whilst making it really easy for parents to manage their children’s pocket money and allowances.

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3331

While many of us are simply worrying about the challenges ahead, young people are already developing innovative ways to solve them.  Whether it’s spiraling unemployment, air and water pollution, or lack of financial services, this younger generation uses their entrepreneurial mindsets, creative imaginations, and aptitude for technology to promote new strategies for change.

Making sure that those at the bottom of the economic ladder have the resources they need to improve their lives – and even climb out of poverty — is currently the goal of 26-year-old Taufan Putra.  He quit his comfortable job at IBM to devote his time providing affordable financial services to low-income families living in remote rural areas of Indonesia – most of whom live on less than $2 a day. So far, through his organization Amartha Microfinance, he has provided average loans of US$100 to over 3,000 women across the country to help them support their families. “I strongly believe that consistent, systematic and collaborative efforts of all stakeholders will bring poverty alleviation programs to a new level, where we can uplift people out of poverty through empowerment instead of charity” says Putra. In Guatemala, Ruth Degola follows this same mantra. In 2004, at the age of 21, she and Benita Singh co-founded Mercado Global, an organization that links indigenous artisans in rural Guatemalan communities to sales opportunities abroad. The artists have increased their income three-fold through the production of hand-made high-fashion purses and accessories and are now able to send their children to school and enjoy greater financial stability. Said Degola at a recent Clinton Global Initiative interview: “These women are fighters. They are amazing artisans. All they needed was a market.”

Read More at Youthtech.info

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1887

 

The technology industry is one of the most dynamic, adaptive and diverse markets one can think of in this current age. To think almost a 100 years ago we were just getting accustomed to Nikola Tesla’s invention of using Electricity to enhance the home, to now, having a computer with almost the same processing power as the human brain is simply astounding. From that time until now, we can clearly see Moore’s Law in full effect, and it won’t be slowing down anytime soon. Theorists predict that within the next 50 years technology will be advancing at such a high pace that it will be next to impossible to keep up with it’s progress, ‘The Singularity’.

Based on the trends and the tendencies of the market currently it is said that we’re stepping into the ‘Age of the Quantified Self’, many persons will be using wearable tech devices, like the Nike Fuel band, more frequently to get detailed information about their bodies in order to help them make better decisions in regards to their health. This era is propelled by ‘The Internet of Things’, where everyday items around the home, workplace, in stores, etc, will be able to give detailed information about the duties they perform.

The Education Industry is not exempt from this type of disruption, and it has gone under several rounds of technological advancement. In this blog I’ll expound on the current state of the Education Industry, ways it will thrive and how technology based learning will change the industry.

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2884

How do you find your job?

The most likely answers one can expect from many of us are: recruitment agency, Internet, newspaper, recommendation from someone, job fair, etc. The fact is, even in developed economies where information seems easily accessible, one can often struggles to find information of available and suitable jobs.

How about in developing continents such as Africa? The region’s rapidly growing economy is creating jobs for many. It is estimated that Africa will create over 54 million “new, stable wage-paying” jobs over the next decade, according to McKinsey Global Institute[1]. However, it remains a great challenge for a majority of workforce in Africa to access job information due to the underdevelopment of facilities around the labor market. Internet is still costly for a majority of population. People living in remote areas face significant barriers to seek any job information and related career support.

Olufuwa Tayo and Dele Bakare, two young Nigerians launched JobsInNigeria in 2012, a job search engine aiming to help job seekers in Nigeria access job information and apply for jobs. One year since its launch, the platform has reached 150,000 users and continues to grow.

Read more

 

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3523

Microfinance’s greatest opportunity cost: children and youth

Editor's Note: this article originally appeared in 100MillionIdeas.org

Schoolchildren in Colombia interviewed during Global Money Week

Schoolchildren in Colombia interviewed during Global Money Week

Children and youth suffer disproportionately the effects of extreme poverty, yet they are largely left out of the picture in microfinance. This is even more surprising given that they have the greatest potential to develop their financial capacity and become empowered and knowledgeable clients in only a few years time. They are today’s potential and will be tomorrow’s (micro-) entrepreneurs – or not.

In 2010, a staggering 400 million children and youth lived in extreme poverty, and a total 1 billion live in poverty. The effects of extreme poverty on children and youth are exponential: malnourishment and general poor health, in combination with further social and economic exclusion during their formative years, lead to high levels of illiteracy and school dropout rates which consequently cause poor physical and cognitive development. With no or extremely limited access to (formal) financial services, children and youth are not able to build assets or develop a savings/credit score that would increase their chances for later access to (micro)finance services. In later life, these factors severely affect their access to the job market, their ability to set up successful MSMEs, or their access to (micro) loans thereby compounding their chances of producing a successful livelihood. By failing to make relatively small investments in the younger generations, major opportunities are missed.


CYFI and the Campaign: a shared commitment and high-potential partnership

For these reasons, Child and Youth Finance International (CYFI) is very excited about its fresh partnership with the Microcredit Summit Campaign (the Campaign), which we believe reflects a common commitment to change this state of affairs. Formally announced during the October 2013 Partnerships against Poverty Summit in Manila, Philippines, this Commitment holds great potential to reshape the future of microfinance and make it more inclusive to children and youth.

CYFI’s two Commitments to the Microcredit Summit Campaign’s Goal of helping 100 million families lift themselves out of extreme poverty, thereby taking a major step towards the end of extreme poverty by 2030 are: :

  • Supporting the measurement of movement out of poverty by including the collection of client poverty measurement data from partners in our 2014 data collection process, and
  • Seeking to establish 25 action plans for youth inclusivity with national government partners by the end of 2014.

The Campaign has committed to the CYFI 2015 target of reaching 100 million children and youth in 100 countries through safe financial inclusion and financial education by:

  • Incorporating child and youth-inclusive indicators in the annually-collected Institutional Action Plan collected by the Campaign and to record and make that data available to CYFI
  • Collaborating with CYFI to develop partnerships linking both organizations’ overall goals
  • Working with CYFI to collaboratively develop conference and event agendas which incorporate overlapping areas of each organization’s respective agendas

CYFI leads the world’s foremost multi-stakeholder movement on Child and Youth Finance, bringing together government, the private (financial) sector, the social sector, and academia. The Movement’s key goals for 2015 are to give 100 million children and youth access to safe financial services and high quality financial education. Launched in 2011, CYFI has begun collaboration with governments and stakeholders in over 100 countries, and has already reached over 18 million children and youth. Despite its age, CYFI is and has been supported by the European Central Bank, UNICEF and UNCDF, the MasterCard Foundation, MasterCard WorldWide and VISA.


How can you get involved?

CYFI and the Campaign invite, and aim to work closely with, MFIs that would like to move forward their child and youth agenda and develop or scale appropriate financial inclusion programs for this segment. CYFI can support MFIs in their program development through expert support, multi-stakeholder scaling strategy and partnerships, and related knowledge exchange of good practice and lessons learned.

Global Money Week

CYFI and partners ring the NASDAQ opening bell in New York City. In the middle is CYFI Founder and Managing Director Ms. Jeroo Billimoria. To her left is Ms. Susan Davis (BRAC USA) and to her right Mr. Marc Bichler (UNCDF).

CYFI and the Campaign also invite all MFIs to participate in Global Money Week. Global Money Week is a money awareness event which will take place from 10-17 March 2014. During this week, worldwide activities will be held to engage children, youth and their communities to learn how money works, including saving, creating livelihoods, gaining employment, and becoming an entrepreneur.  MFIs can get directly involved by organizing and participating in events in your local communities during #GMW2014. This can take numerous forms, for example:

  1. by directly organizing local GMW money-awareness and/or financial education activities at schools or in your communities;
  2. by initiating local fundraisers to support local schools, charities or financial education projects;
  3. by inviting school classes to company offices so that they can learn about money, careers, and business and entrepreneurship; and/or
  4. by organizing music or sports events with a financial education theme during GMW.

For more information about Global Money Week, please visit the project’s website at www.globalmoneyweek.org. GMW also has a social media presence on Facebook (@GlobalMoneyWeek) and Twitter (@GlobalMoneyWeek).

CYFI looks forward to collaborating with the Campaign and all of its members to drive the global child and youth finance agenda and to reshape the future of microfinance!


For more information, please contact:

Bram Stoffele, Financial Inclusion Manager
Child & Youth Finance International
This email address is being protected from spambots. You need JavaScript enabled to view it.

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3520

Child & Youth Finance Founder and Managing Director Jeroo Billimoria will be a special guest of NextBillion editor James Miliitzer for a special Google Hangout.  It is scheduled for 29 January at 10:00 EST / 16:00 CET / 15:00 GMT.

NextBillion.net is a website and blog bringing together the community of business leaders, social entrepreneurs, NGOs, policy makers and academics who want to explore the connection between development and enterprise. It is a discussion forum, networking space and knowledge base for individuals and organizations interested in the "next billion". Their goal is to highlight the development and implementation of business strategies that open opportunities and improve the lives of the world's approximately 4 billion low-income producers and consumers.

if you have any questions that you’d like to ask Jeroo, you can share them in the comments section of the announcement on the NextBillion website here, in an email ( This email address is being protected from spambots. You need JavaScript enabled to view it. ) or on Twitter (@NextBillionFI). We’ll ask as many audience questions as possible in the interview, but depending on the response, we may have to do so on a first-come/first-served basis. So please submit your questions ASAP.

You can watch the interview live on NextBillion Financial Innovation on 29 Jan at 10:00 EST / 16:00 CET / 15:00 GMT. The video will start automatically, and it will be streamed and recorded to YouTube. The recorded video will remain embedded in this post, so you can view it at your convenience if you don’t have a chance to tune in for the live event.

Follow @ChildFinance and @NextBillionFI on Twitter for live posts during the Hangout.

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

The Nguni word for mediator, Ummeli began as a mobile community for young Africans who are classified as NEET – Not in Employment, Education or Training. Youth lack the funds, resources and networks necessary to successfully apply for suitable opportunities that would allow them to learn, gain skills and experience to become more competitive in the job market.

Read more at the YouthTech blog.

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Recognizing youth unemployment as a global challenge, the Mobile for Employment team took a trip to the GSMA Brussels office to discuss issues in the European context as part of the GSMA Mobile Meetings Series.

Read more at the YouthTech blog.

 

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