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3451

Free mentoring for young start-ups!

Are you a young entrepreneur with a business which you would like to develop or scale up? Are you looking for a free coaching service? Just sign yourself up at www.youth-co.com and you can get linked with an experienced coach!

This service is part of the new Youth-Co program from Child and Youth Finance International, supporting young entrepreneurs worldwide. Youth-Co aims to be a global online platform where young entrepreneurs aged 16 to 30 can find information, an online community to meet and connect with other young entrepreneurs, free coaching and a link to potential investors. These features will appear soon, with the objective of reaching over 10 million youth worldwide by 2020!

If you would like more information or if you would like to take part in the project as a partner , please contact us via This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it. .

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Tagged in: Entrepreneurship Youth
2433

The UN has published an update on the Proposed Goals and Targets on Sustainable Development for the Post 2015 Development Agenda.

At the recent CYFI/UNCDF High Level Stakeholder Meeting, youth delegates called for youth financial and social inclusion to be included as part of the Post-2015 Development Agenda. Therefore CYFI and its partners have continued to advocate for amendments which ensure that the voices of youth have been heard.

 

Related Links:

sustainabledevelopment.un.org

A/67/941 - Progress report on the work of the General Assembly Open Working Group on SDGs at its first four sessions

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3244

Webinar: “Banco Caja Social and MicroBank: Savings and Retail Banks building financial capabilities of children and youth”

Friday, 27 June 2014

15:00-16:00 CET

Webinar link

Partners Child and Youth Finance International (CYFI) and the World Savings and Retail Banking Institute (WSBI) invite you to join us for an exciting webinar with presentations of pioneering savings banks building financial capabilities of children and youth.

Banco Caja Social (Colombia) and MicroBank (Spain) will present the ways in which they are supporting financial inclusion of young people while building their financial capabilities. BCS, partner of the YouthSave consortium, offers savings accounts to children in combination with elements of financial education. MicroBank partners with a large number of local social sector and municipal institutions to build young people’s financial and entrepreneurship capabilities before providing them with loans or financing for their ventures.

Both cases provide interesting models on how financial institutions can shape their interaction with, and responsibility towards a new generation of customers, and how a multi-stakeholder approach can provide added value to all parties involved.

Join us on June 25 at 3pm CET to hear their experiences first-hand and to get practical advice for your own organization, partner-program, or community.

Don’t miss it!

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3262

PRESS RELEASE
FOR IMMEDIATE RELEASE
June-02-2014

Children, youth and high-level stakeholders discuss the post-2015 agenda at the UN

Amsterdam, the Netherlands – A Chance for Change: Child and Youth Finance and the Post-2015 Agenda was organized by Child and Youth Finance International (CYFI) with the support of United Nations Capital Development Fund (UNCDF) on May 23, 2014, at the United Nations Headquarters in New York. The meeting featured children, youth and high-level stakeholders, and was attended by 341 participants from 90 countries, including ambassadors and representatives of 43 permanent missions to the UN.

The main objective of the meeting was to ensure that the financial and social inclusion of children and youth are included in the Post-2015 agenda, as inclusion is crucial for fighting inequalities and promoting sustainable growth. This meeting allowed youth to bring their concerns, desires and dreams for the future directly to policymakers. All recommendations for the Post-2015 agenda were structured along the following themes: basic access to financial services, employability, Economic Citizenship Education and youth livelihoods (employment and entrepreneurship).

90 children and youth, from across the world, spoke to the high-level stakeholders on behalf of 4,000 youth who participated in the global youth survey; 6,500 people involved in the DreamsBank campaign on Facebook; and 3 million conversations on Twitter. They presented their ideas to the high-level stakeholders on what they think should be included in the Post-2015 Agenda, stressing the importance of increased Economic Citizenship Education, Financial Inclusion and Youth Livelihoods in helping them develop into active and responsible economic citizens capable of making informed decisions.

The youth representatives presented the following 8 points, which they hope will be included in the Post-2015 Development Agenda:

  • Creation of a youth-led UN body dedicated to the youth's social and economic well-being;
  • Economic Citizenship Education (ECE) should be offered in primary, secondary school and post-secondary school curricula;
  • Every child and youth 12 to 18 should have a bank account;
  • Governments should create policies and programs to prevent youth unemployment and facilitate entrepreneurship through special funds;
  • All companies should dedicate a portion of their revenue profit to youth related activities;
  • There should be special tax benefits for youth, especially youth entrepreneurs;
  • Governments should ensure that all youth currently up to the age of 30 have a bank account ;
  • Every person in the world should be financially included especially youth from 18-24.

Emerging strongly from this meeting was the request by children and youth for a separate, youth-led “Youth UN” – a UN body dedicated to addressing youth issues, particularly their social and financial well-being. This body could replicate the UN structure, with its own Youth Council (or General Assembly) and Secretariat. It would consist of regional representatives and coordinate with existing UN efforts. In response to this request, Mr. Ravi Karkara, the Global Expert Advisor on Children and Youth, UN-Habitat, agreed that "we need to create permanency in the youth agenda and be a part of this partnership for a larger reengineering of the youth agenda."

“We will advocate for each one of the points you have raised today into the post-2015 agenda – they are much more than requests, they are rights and I support them fully,” said Ms. Amina Mohammed, the Secretary General’s Special Advisor on Post-2015 Development Planning. Ms. Mohammed went on to express the UN’s support for advancing the youth agenda, especially in the areas of financial inclusion, financial education and employment.

Mr. Ahmad Alhendawi, the United Nations Secretary General’s Envoy on Youth, committed to bring forward the points raised by the youth in this meeting to the post-2015 discussion. He highlighted that for the 75 million young people who are unemployed; projections show that 600 million jobs will be needed; therefore he finds it imperative that we build an environment that encourages, aids and supports the youth in creating their own jobs. John Ashe, President of the UN General Assembly, expressed his support of the meeting’s agenda through his Special Advisor, Mr Nicolas Pron who said "It is time for change. It is time for children and youth to be spared the burdens of poverty, and it is time for youth to experience social and financial inclusion, which would allow them to thrive through decent employment or creative entrepreneurship."

The World Bank’s support of the youth’s requests and the Child and Youth Finance Movement was emphasized by Mr. Mahmoud Mohieldin, President’s Special Envoy, World Bank.

UNCDF’s Policy Advisor, Ms. Beth Porter, confirmed UNCDF’s commitment to taking forward the issues raised by the youth to other UN agencies. She reminded the audience that this is the chance for change and it must be taken, collaboratively, to advance the agenda to ensure that all youth are financial included and financially capable.

The meeting concluded with statements from UN permanent representatives to take the requests of the children and youth forward during their country-level deliberations. Ms. Simona-Mirela Miculescu, the Ambassador of the Romanian Permanent Mission to the United Nations, expressed her appreciation for the power and creativity of youth, emphasizing the potential and responsibility of the world’s youth to catalyze change. Ms. Miculescu described how sustainable economic growth was linked to financial inclusion and financial education for youth.


Social Media

Event Hashtags:

#CYFI2014 | #UNforYouth | #DreamsBank2014

Other related hashtags:

#MDG | #finlit |#entrepreneurship |#youth | #awards | #GMW2014 | #celebrate |#jointhefun


About Child and Youth Finance International

Child and Youth Finance International (CYFI) aims to develop a generation that will be able to prevent future financial crises by increasing the financial education, financial access, employability, and entrepreneurship skills of children and youth.

Launched in April 2012, the Child and Youth Finance Network has already expanded to 125 countries and reached more than 18 million children. Our international and regional events result in policy changes, and are the only events in the world where children contribute to setting the global agenda.

Website: www.childfinanceinternational.org
Facebook: facebook.com/ChildFinance
Twitter: twitter.com/ChildFinance


Press Contacts

For further information about any of the mentioned events and/or Child & Youth Finance International, please contact:

Caitlin Watson, Communications Coordinator
This email address is being protected from spambots. You need JavaScript enabled to view it.
+31 (0)20 520 3900

Robin Willing, Director of Communications & Operations
This email address is being protected from spambots. You need JavaScript enabled to view it.
+31 (0)20 520 3900

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PRESS RELEASE
FOR IMMEDIATE RELEASE
May-22-2014

2014 CYFI Awards celebrate the best in Youth Financial Inclusion, Economic Citizenship Education, and Youth Entrepreneurship

New York, New York - Tonight Child & Youth Finance International (CYFI) hosted the 2014 CYFI Awards at the Millennium UN Plaza Hotel. This annual awards ceremony CYFI recognizes and honors individuals, organizations, and government agencies that demonstrate innovation and commitment to promoting financial inclusion and financial, social and livelihoods education for children and youth at the national, regional and international level.

Thomson Reuters' Personal Finance Editor Lauren Young anchored the evening where special addresses were made from Annemiek Hoogenboom, Founder and Director UK's People Post Code Lottery, and, Silvia Singer Director of the Interactive Museum of Economy, Mexico.

"If I'm handing the baton of the world to the youth who are here today, I can promise you, that the future is incredible. They're smart, they're engaged, and they're absolutely fired up to get #UNforYouth representation!" Lauren Young, Personal Finance Editor, Thompson Reuters

"Age is no barrier for ambition. We can't underestimate the power that education plays in the fullfillment of their goals. The wisest decision we can make is to invest in education." Annemiek Hoogenboom, Founder and Director, People's Post Code Lottery

"Financial education provides children and youth with tools to navigate the contemporary world." Silvia Singer, Director of the Interactive Museum of Economy, Mexico

"The achievements of each one of the finalists serve as a powerful testimony to the incredible potential of collaboration and innovation in the field of financial inclusion, education and sustainable livelihoods for young people. CYFI would like to congratulate all the CYFI Award Winners tonight and wish them continued success in their home countries and local communities." Jeroo Billimoria, Managing Director of CYFI

2014 CYFI Awards Winners and Finalists

CYFI Pioneer Award

Winner: Al-Amal Microfinance, Yemen | Finalists: ING Turkey and UCU Rwanda

CYFI Country Award

Africa Winner: South Africa | Finalists: Kenya and Ghana
Americas Winner: Brazil | Finalists: Paraguay and Peru
Asia Winner: Singapore | Finalists: Fiji and Bhutan
Europe Winner: Portugal | Finalists: Czech Republic and Turkey
MENA Winner: Saudi Arabia | Finalists: Egypt and Morocco

CYFI "Global Money Week" Award

Africa Winner: Zambia | Finalists: Malawi, and Nigeria
Asia Winner: Mongolia | Finalists: Brunei, and Nepal
Americas Winner: Dominican Republic | Special Mention: Guatemala | Finalist: Suriname
Europe Winner: Romania | Finalist: the Netherlands and Albania
MENA Winner: Egypt | Special Mention: Yemen | Finalist: Saudi Arabia

2014 CYFI Youth Awards Winners and Finalists

Youth Entrepreneurship

Africa Winner: Lamorena Bridget Gabotolane (Botswana) | Finalists: Amabella Nwankwo (Nigeria) and Nyeri High School (Kenya)
Americas Winner: Jerome Marlon Cowans (Jamaica) and Danielle Gafni (USA) | Finalists: Diana Bernita (Ecuador) and Cynthia Andrea Jara (Paraguay)
Asia Winner: Guru Mathivanan (India) | Finalists: Dilnasheen Alamgir (India), Longbiao Tang (China), and Jessalyn Burcer (Philippines)
Europe Winner: Yulia Frolova (Ukraine) | Finalists: Dimitrie Calin Cielecki (Romania) and Mohamed Omar (UK)

Financial Inclusion: the Youth Financial Landscape Award

Africa Winner: Kelvin Kinoti (Kenya) | Finalist: Walter Kiburi (Kenya)
Americas Winner: Jhose Adolfo (Peru) | Finalist: Mahir Jethanandani (USA)
Asia Winner: Baasan-Amgalan Ichinnorov (Mongolia) | Finalist: Josh Cezar Serilo (Philippines)
Europe Winner: Erik Frach (Germany) | Finalist: Yulia Frolova (Ukraine)
MENA Winner: Yasmina and Dalia Aoun (Lebanon) | Finalist: Said ELmahmoudi (Morocco)

DreamsBank Campaign Award

Winner: Nita Wakan and Gita Anggraini (Indonesia)
Finalists: Abigael Pertet (Costa Rica), Blair Fiander (UK), Cynthia Tembo (Zambia) Ifeanyi Dickins E (Nigeria), and Smart Investor (Saudi Arabia)


Social Media

Event Hashtags:

#CYFI2014 | #UNforYouth | #DreamsBank2014

Other related hashtags:

#MDG | #finlit |#entrepreneurship |#youth | #awards | #GMW2014 | #celebrate |#jointhefun


About Child and Youth Finance International

Child and Youth Finance International (CYFI) aims to develop a generation that will be able to prevent future financial crises by increasing the financial education, financial access, employability, and entrepreneurship skills of children and youth.

Launched in April 2012, the Child and Youth Finance Network has already expanded to 125 countries and reached more than 18 million children. Our international and regional events result in policy changes, and are the only events in the world where children contribute to setting the global agenda.

Website: www.childfinanceinternational.org
Facebook: facebook.com/ChildFinance
Twitter: twitter.com/ChildFinance


Press Contacts

For further information about any of the mentioned events and/or Child & Youth Finance International, please contact:

Caitlin Watson, Communications Coordinator
This email address is being protected from spambots. You need JavaScript enabled to view it.
+31 (0)20 520 3900

Robin Willing, Director of Communications & Operations
This email address is being protected from spambots. You need JavaScript enabled to view it.
+31 (0)20 520 3900

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4173

PRESS RELEASE

FOR IMMEDIATE RELEASE

May-20-2014

Youth to Lead the World to an Inclusive Future

Ensuring youth financial and social inclusion in the Post-2015 Agenda

Amsterdam, the NetherlandsChild and Youth Finance International (CYFI) and the United Nations Capital Development Fund (UNCDF) are co-hosting a High-level Stakeholder’s Meeting at the United Nations Headquarters in New York on May 23, 2014. Preceding the meeting is a CYFI International Youth Meeting and the 2014 CYFI Awards’ Dinner on May 21-22, and 23 May, 2014, respectively.

Letting the Youth Lead: Youth to Present Youth Meeting Outcomes to Policy Makers

On the 21-22 May children and youth who are actively involved in the Child and Youth Finance Movement, will be attending CYFI’s Youth Meeting. The children and youth will take part in fun and interactive activities workshops where they will further their knowledge on finance, Economic Citizenship and entrepreneurship. The young people will also discuss how their financial and social wellbeing can and should be included in the UN’s Post-2015 Agenda.

Youth representatives will present the outcomes of this meeting to policy makers at A Chance for Change: Children and Youth in the Post-2015 Development Agenda – a High-level Stakeholder Meeting on the 23 May, 2014, co-hosted by UNCDF and CYFI at the UN Headquarters in New York.

Ms. Amina Mohammed, the Secretary General’s Special Adviser on Post-2015 Development Planning; Mr. Ahmad Alhendawi, the United Nations Secretary General’s Envoy on Youth; and Mr. Mahmoud Mohieldin, President’s Special Envoy, World Bank, are three of the high-level representatives who will be speaking, along with the youth, at the meeting.

A Chance for Change: Child and Youth Finance in the Post-2015 Agenda

The meeting, titled A Chance for Change: Child and Youth Finance in the Post-2015 Agenda, provides a platform for children and youth to present their ideas for the Post-2015 agenda – these ideas will then be taken forward during the country-level deliberations. It will be attended by high-level representatives from institutions such as Permanent Representatives to the UN, financial authorities, Ministries of Finance, Youth and Education, financial institutions (global and local); multilateral agencies; NGOs and, of course, youth. The main purpose of the meeting will be to ensure that youth financial andsocial inclusion becomes a topic within the development agenda and to ensure that every young person emerging into adulthood has a dignified livelihood either through employment orentrepreneurship.

CYFI and the UNCDF proudly announce the following speakers for the meeting:

  • Ms. Amina Mohammed, the Secretary General’s Special Adviser on Post-2015 Development Planning
  • Ms. Marta Santos Pais, the Special Representative of the United Nations Secretary-General on Violence against Children
  • H.E. Ms. Simona-Mirela Miculescu, the Ambassador of the Romanian Permanent Mission to the United Nations
  • Mr. Ahmad Alhendawi, the United Nations Secretary General’s Envoy on Youth
  • Mr. Mahmoud Mohieldin, President’s Special Enjoy, World Bank
  • Ms. Kim Bolduc, UNCDF Executive Secretary ad interim
  • Hon. Major (Rtd) Jessica R. E. Alupo, Minister of Education and Sports, Ministry of Education and Sports of Uganda
  • Dr. Muhammad Baasiri, Deputy Governor, Central Bank of Lebanon
  • Dr. Mona El Baradei, Executive Director, Egyptian Banking Institute – Central Bank of Egypt
  • Mrs. Alicia Bárcena, Executive Secretary, United Nations Economic Commission for Latin America and the Caribbean (CEPAL)
  • Mr. Luiz Edson Feltrim, Deputy Governor, Central Bank of Brazil
  • Mr. Ardian Fullani, Governor, Central Bank of Albania
  • Dr. Michael Gondwe, Governor, Bank of Zambia
  • Mr. Gilmore Hoefdraad, Governor, Central Bank of Suriname

Awarding Innovation, Commitment and Entrepreneurship

On the evening of May 22, 2014, CYFI will host the 2014 CYFI Awards at the Millennium UN Plaza Hotel. At this annual awards ceremony CYFI recognizes and honors individuals, organizations, and government agencies that demonstrate innovation and commitment to promoting financial inclusion and financial, social and livelihoods education for children and youth at the national, regional and international level.

Thompson Reuters’ Personal Finance Editor Lauren Young will be the anchor for the evening. Special addresses will be made from Ms Annemiek Hoogenboom, Founder and Director UK’s People Post Code Lottery; and, Silvia Singer Director of the Interactive Museum of Economy, Mexico.

The CYFI Award categories are: CYFI Pioneer Award, CYFI Country Award and CYFI “Global Money Week” Award. CYFI will award the achievements of young people in the following categories: Entrepreneurship, Financial Inclusion- the Youth Financial Landscape and DreamsBank Campaign.

Social Media

Event Hashtags:

#CYFI2014 | #UNforYouth | #ChanceforChange | #DreamsBank2014

Other related hashtags:

#MDG | #finlit |#entrepreneurship |#youth | #awards | #GMW2014 | #celebrate |#jointhefun

About Child and Youth Finance International

Child and Youth Finance International (CYFI) aims to develop a generation that will be able to prevent future financial crises by increasing the financial education, financial access, employability, and entrepreneurship skills of children and youth.

Launched in April 2012, the Child and Youth Finance Network has already expanded to 125 countries and reached more than 18 million children. Our international and regional events result in policy changes, and are the only events in the world where children contribute to setting the global agenda.

Website: www.childfinanceinternational.org

Facebook: facebook.com/ChildFinance

Twitter: twitter.com/ChildFinance

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2721

A new report from Aflatoun describes how partnering with Teacher Training Institutes has been a better strategy to guarantee quality and scale of programming than traditional approaches using Regional Master Trainers.

link:  Aflatoun report

Through funding from the CITI Foundation, Aflatoun worked with local partners in Kenya (Bondo Teacher Training College) and Jordan (Jordan River Foundation) to promote active learning methods in the context of Child Social and Financial Enterprise, helping local teacher-educator staff to apply these methods to key subjects in the national curriculum. 8 key findings emerged from the project that were outline in the report.

Additional information on the project can be found at www.aflatounacademy.org

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611

In a seminar called “InnovAction Lab”(www.innovactionlab.org, three Italian girls - Monica, Giulia and Valentina met each. They worked together on the start-up project of the course. Inspired by their own experience and ambition to make something big, they decided to turn their idea into a real business. With the help of “Luiss Enlabs” start-ups incubator (www.luissenlabs.com), they launched Le Cicogne, a company and web portal that matches demands and supplies of babysitting service in Italy.

Below is our interview with Monica, the co-founder of Le Cicogne. (www.lecicogne.net)

What drove you (and your co-founders) to start Le Cicogne?

Passion and CARPE DIEM.

Le Cicogne is a web portal that matches demand and supply of services such as babysitting, baby&teen shuttle services, baby&teen tutoring and baby party.

I was the first user of my own service. At that time, I was a student looking for flexible babysitting jobs. It was very difficult to find jobs that can fit my schedule. The only way seems to be receiving as many job offers as I can so I have the chance to choose the most suitable one. Obviously this wasn't possible – there won’t be so many parents contacting me if they didn’t hear from another parent that I am available to work. I discovered that the easiest way to look for a babysitter is by word of mouth.

Thanks to a family I was working for I created a new service: the “baby-taxi”, a shuttle service that picks up children from, for example, their sport lesson, and brings them home. It is more than just a “taxi service”, it is a “sitting service” with the car. My responsibilities include making sure the child sits properly, helping them dress after their lesson and having fun with them in the meantime. The job is flexible and only took me three hours per week. So I decided to look for other parents to offer the same service. The parents I already knew introduced me to other families. I started to receive so many calls that I could no longer afford all the work. So I started to share it with my friends. Later we launched a web portal to introduce our business Le Cicogne and facilitate the demands and supplies of the services.

There is more than one reason why my co-founders and I started Le Cicogne. To put them all together, I would say it is the need of a flexible job, of money, of letting people know about my service, and the desire to prove ourselves.

What was the biggest challenge you experienced in the journey of Le Cicogne and how did you overcome it?

I think there is no thing as big as the present and the future that we are living in right now with Le Cicogne. What I mean is that if I look back, I see things way more easier than they are right now, which I think is good. Because it means that we are going in the right way. We are becoming a real company with real difficulties and obstacles.

Some big challenges I have: one, Italian bureaucracy, setting up a company in Italy always means a lot of time, money and legal difficulties. Second, how to transform a start-up into a solid company.

Is there anything that you would have done otherwise?

No. If I could go back in time right now, I would do everything in a different way, but with the knowledge I have now, otherwise I would probably have made the same choices and mistakes.

What is your vision for Le Cicogne in the next three years?

We hope to receive an offer from FB as the one they did to Whatsapp!No, just joking, I see it becoming stronger, a solid company that gets bigger day by day. For sure I see Le Cicogne on the whole Italian territory. 

What advice do you have for young tech entrepreneurs?

I will tell them: START.

Don't look back on what has already past. Look forward. I did it and it is amazing! You won't repeat the same mistake twice; you will realize what you love and how you want it.

 

2013_05_08-11_23_12 9

Brains behind Le Cicogne

Monica is 25 years old and she is from Rome.
Giulia is 24. She studied Management.
Valentina is 27 and she has a degree in IT.

 

 

 

 

 

Author: CYFI Innovations Team

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Tagged in: Entrepreneurship Italy
476

This week we would like to present you our interview with Matteo di Pascale, a young Italian writer, designer and artist. He is the creator of Intùiti Creative Cards. Introduced as “a deck of cards for Creativity” and “serious game”, Intùiti aims to provide people with an effective tool for brainstorming and to spur creative thinking.

What drove you to create Intùiti?

Matteo di Pascale

Passion. I designed Intùiti because I thought there was a gap in the way creativity is dealt. At the university they teach it as mechanical methods – brainstorming, mid maps, etc. – which are widely used in agencies. And I've always believed that creativity is something more than a simple equation. That's why I put my efforts in an unconventional tool such as Intùiti. Then, after having realized that it was a very difficult product to place, I tried to raise the funds for a first production through the platform   Kickstarter.com. The result was very satisfying: I got the resources to produce the paper version of Intùiti and to develop the Intùiti app for both iOS and Android.

What was the biggest challenge you experienced in the journey of Intùiti? How did you overcome it?

The biggest challenge is always not to give up. This journey started almost 3 years ago and it's easy to think: «Ok, this is not working. Let's just move on». I've been on the edge of resignation several times, and it's all a matter of finding the energy to keep going. You just have to believe in what you are doing and continue working: a good idea is not enough; you have to sweat really hard.

Is there anything that you would have done otherwise with Intùiti?

You learn from your mistakes, so they are pretty useful. I only have some regrets for what regards the level of stress: sometimes I think I could have handled myself better.

What is your vision for Intùiti in the next three years?

Intùit should be produced by a publisher, possibly for both the Italian and the international market, and communicated in two different ways: for tarot lovers, as a new vision of the classical cards, and for creatives, as a peculiar tool for inspiration.

What advice do you have for young entrepreneurs?

Be sincere with yourself. If you don't like your product, change it or drop it. Imagine to be working on that for the next 5 years: if you love it, it would be an amazing adventure (also if it's not successful); otherwise you are just wasting your energy.

Intùiti

 

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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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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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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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4862

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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8046

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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7945

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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6996

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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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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8098

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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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.

Read more

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8525

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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Global Money Week

2014 Global Money Week was celebrated by more than 3 million young people in 118 countries.

Twitter @ChildFinance