The theme for the final multi-stakeholder meeting held on October 23, 2014 in Nairobi, Kenya was “Promoting Youth Financial Capability to Unlock Sustainable Development in Kenya”. Over 130 participants of whom at least 30 were youth gathered together to discuss future opportunities for youth savings in Kenya. The meeting included three sessions. First, the YouthSave partners discussed successes, challenges and opportunities of the project in Kenya over the past four years. After this session, several youth participating in the programme took the stage to relate their experiences with saving and financial education.
Corrinne Ngurukie, YouthSave’s Regional Technical Advisor for Africa, attended the final MSM in Kenya on October 23, 2014. She recorded the following impressions.
"...even when uptake is facilitated by extensive outreach to youth and by the creation of more flexible regulation regarding identity and control, usage of youth accounts is not as promising as practitioners would hope..."
Creating fertile environments for youth savings at financial institutions in the developing world could certainly lower the threshold of profitability for financial institutions by creating a larger pool of clients or by lowering or subsidizing the cost to financial institutions of doing business with those clients, at least in the short-term.