Product Pilot Report: Youth Savings Performance in Ghana, Kenya, and Nepal

Testing a pilot savings product on low-income youth in Ghana, Kenya, and Nepal
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This YouthSave Research Brief presents findings on account uptake and savings from piloting youth savings products in three of the four countries that are part of YouthSave, a project designed to increase savings and development among low-income youth in Colombia, Ghana, Kenya, and Nepal. All three countries, except Colombia were included in the study. YouthSave creates tailored, sustainable savings products in partnership with local financial institutions (FIs) and assesses their performance and development outcomes with local researchers. Findings include:

  • Youth are signing up for accounts. There were 1,306 accounts opened over an average of 143 days across 20 branches in Ghana, Kenya, and Nepal;
  • FIs are reaching the target population;
  • Youth are saving in small amounts;
  • Few out-of-school youth are opening accounts, perhaps due to FI choice to focus on schools as the primary delivery channel during the pilot period;
  • Approximately 70% of parents or guardians have had prior experience with a formal banking system but more than 90% of youth have not.

About this Publication

By Johnson, L., Lee, Y., Osei-Akoto, I., Njenga, M. & Sharma, S.