Welcome to YouthSave, a project dedicated to developing and testing savings products accessible to low-income youth in Colombia, Ghana, Kenya, and Nepal. Through this website the YouthSave Consortium will share lessons and build awareness about its work while providing broader information on youth savings accounts around the globe. We encourage you to explore the shared knowledge provided on this website and stay connected with us through this exciting journey. To learn more about YouthSave click here.
"...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..."
To protect youth and financial institutions, we note that as policies around access and management are made more flexible, there will be a greater need for a solid, protective regulatory framework and adequate oversight.
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.