Young People in Africa: Research Showing Opportunities for Financial Service Providers in Morocco, Nigeria and Senegal

Insights on how young people manage their money

Across sub-Saharan Africa, young people account for half of the remaining financially excluded, but they have been catching up fast. In Northern Africa, where demographic trends are more mature the young are a smaller proportion of the unserved. But they remain oftentimes still disproportionately unserved. Given this backdrop, young people in Africa can benefit from financial inclusion

Research found in this report looks at how younger sections of the population manage their money. Drawing upon data collected in the field, this study aims to find the best paths by which financial institutions can connect with young people. Data drawn from internationally recognized bodies and fieldwork feed the study’s quantitative research element. Qualitative research done through focus group discussions and working sessions enriches the information.The lessons from this study can help guide financial institutions, financial inclusion experts and policymakers.

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By Lise Paaskesen , Stephen Peachey