PRESS RELEASE: African Policymakers Pledge to Financially Include Kids

Tuesday, December 2, 2014

Amsterdam, The Netherlands – On 4-5 December 2014 the Third Child and Youth Finance Regional Meeting for Africa will be held at the African Union Headquarters in Addis Ababa, Ethiopia. The Meeting will bring together Africa’s finest policy makers, educators, research and academic institutions, financial service providers, as well as representatives from various government ministries to develop a common African position on the advancement of a unified financial education and inclusion plan of action for children and youth across the continent. Child and Youth Finance International (CYFI) leads the world’s largest movement dedicated to advancing child and youth financial inclusion and education, with partners including The Mastercard Foundation, People’s Postcode Lottery, The Association of Ethiopian Microfinance Institutions (AEMFI), Ethiopian Inclusive finance Training and Research Institution (EIFTRI), African Child Policy Forum (ACPA), ICS: Creating Change, African Youth Panel, Africa 2.0 and Aflatoun, among others.

The main outcome for this meeting includes drafting a policy paper to pledge for an integrated African Policy for Child and Youth Financial Inclusion to be part of Agenda 2063 – “A global strategy to optimize use of Africa’s resources for the benefit of all Africans”[i] for an integrated, prosperous and peaceful Africa.

Africa has the fastest-growing youth population in the world. An estimated 65% of the continent’s total population is below the age of 35. In most African countries the responsible ministries are among the least resourced and funded government units. Without appropriate support, the drop out school rate is critically high. In one-third of sub-Saharan African countries, approximately 50% of all children do not complete their primary education. When they grow older, these 50% are in serious danger of being unemployed.

Source: Daily Exchange (link opens in a new window)

financial inclusion, public policy