GIZ, Silatech and Sanabel have signed a partnership agreement to provide Youth Savings Initiatives for low-income youth in the Middle East and North Africa (MENA) region. The project will allow young people aged 16-30 to build their financial assets through the opening of youth-specific micro-savings accounts. In addition to new youth savings accounts offered through a network of partner financial institutions, the initiative will provide training on “financial literacy” for young people, as well as an outreach campaign, in partnership with its partner financial institutions, to raise the awareness amongst young people of the importance of saving money. The two-year…
GIZ, Silatech and Sanabel have signed a partnership agreement to provide Youth Savings Initiatives for low-income youth in the Middle East and North Africa (MENA) region. The project will allow young people aged 16-30 to build their financial assets through the opening of youth-specific micro-savings accounts. In addition to new youth savings accounts offered through a network of partner financial institutions, the initiative will provide training on “financial literacy” for young people, as well as an outreach campaign, in partnership with its partner financial institutions, to raise the awareness amongst young people of the importance of saving money. The two-year program is expected to facilitate access to micro-savings accounts and financial literacy training for at least 50,000 disadvantaged young people in its three countries of operation: Egypt, Morocco and Yemen.
By Mehrechane Nayel
