Youthstart Partners

Youthstart Partners

  • ACSI - Ethiopia

    Amhara Credit and Savings Institution (ACSI) is one of the largest financial service providers in Ethiopia. ACSI serves over 2.4 million clients with over US$224 million in deposits and has provided US$270 million in loans to over 766,000 borrowers.

    ACSI began operations in a very challenging environment to provide low interest rates to very poor people in remote rural areas. As a YouthStart partner, ACSI created a youth programme called Raey accounts that combines both financial services and financial education. One of the unique features of ACSI's approach and success is its partnership with vocational schools. At each school, ACSI identified a tutor to act as a savings ambassador who promotes and encourages saving among students.

      Outreach under the YouthStart programme:

    • 232,670 youth clients
    • US$5 million in loans to over 52,830 youth
    • 176,180 youth received financial education
  • FUCEC - Togo

    Faitière des Unités Coopératives d'Epargne et de Crédit (FUCEC) is the largest financial cooperative network in Togo. Its goal is to contribute to the economic and social improvement of people and communities through savings and loan cooperatives. FUCEC serves 620,500 clients with over US$162 million in deposits and provides close to US$115 million in loans to over 71,000 borrowers.

    With YouthStart's support, FUCEC created youth savings accounts for both individuals and groups of youth aged 12−24. One of the unique characteristics of the FUCEC model is its door-to-door savings collection. In addition to its youth savings product, FUCEC launched a business loan product for older youth who have saved for a minimum of three months with the institution.

      Outreach under the YouthStart programme:

    • 33,000 youth clients
    • US$667,300 in youth savings
    • US$6,900 in loans to over 30 youth
    • 26,000 clients received financial education
  • FTB - Uganda

    Finance Trust Bank (FTB), formerly known as Uganda Finance Trust (UFT), is one of the oldest microfinance institutions in Uganda whose mission is to provide unique financial services to low-income people in a manner that satisfies customers and adds value to all stakeholders. FTB has to date served almost 340,300 clients who have deposits of over US$23 million and provides loans worth US$26 million to 27,570 borrowers.

    As a YouthStart partner, FTB provides savings products for youth aged 12−17 and 18−24. Its Teen Classic savings account targets boys and girls aged 12−17, and its Youth Progress savings account targets older youth in- and out-of-school aged 18−24

      Outreach under the YouthStart programme:

    • 23,445 youth clients
    • US$533,790 in youth savings
    • 18,000 youth received financial education
  • FINCA - Democratic Republic of the Congo

    Foundation for International Community Assistance (FINCA) is a non-profit microfinance organization whose mission is to provide financial services to the world's lowest-income entrepreneurs so they can create jobs, build assets and improve their standard of living. In the Democratic Republic of the Congo, FINCA has over 463,000 clients with deposits reaching more than US$20.6 million. FINCA DRC has granted over US$39.4 million in loans to over 107,100 borrowers.

    FINCA DRC invested in technology to service youth with the support of YouthStart. In less than two years, the point-of-sale (POS) devices FINCA DRC placed in schools tremendously changed the uptake of its savings accounts for youth. Transactions on youth accounts increased by 480 percent.

      Outreach under the YouthStart programme:

    • 15,700 youth clients
    • US$224,380 in youth savings
    • 18,155 youth received financial education
  • FINCA - Uganda

    Foundation for International Community Assistance (FINCA) is also present in Uganda. There, FINCA works to provide financial services to Uganda's lowest-income entrepreneurs so that they can create jobs, build assets and improve their standard of living. FINCA Uganda's client base is over 160,140 individuals with deposits worth more than US$18 million. FINCA Uganda has provided over US$25 million in loans to 57,270 borrowers.

    With the support of YouthStart, FINCA Uganda developed Smart Start, a savings-focused product for youth, in school and out of school, aged 12−24 years. FINCA Uganda has been successful in leveraging its work with village savings and loans associations to reach youth, particularly in rural zones.

      Outreach under the YouthStart programme:

    • 11,680 youth clients
    • US$147,300 in youth savings
    • 22,290 youth received financial education
  • OIBM - Malawi

    Opportunity International Bank of Malawi (OIBM) is a leading commercial bank that provides access to financial services to the entrepreneurial poor and disadvantaged people of Malawi, particularly deposit and credit services. OIBM serves over 639,800 active clients with deposits of more than US$27.6 million. The Bank has provided loans to 67,470 clients, amounting to over US$27.6 million.

    Through YouthStart, OIBM developed Masomphenya, a product targeting youth ages 12−24. OIBM provides both savings and loans through the YouthStart programme, along with financial education by its youth officers. OIBM's outreach to youth also includes the use of mobile banking, particularly in rural areas, as well as access cards that are free of charge to youth.

      Outreach under the YouthStart programme:

    • 19,340 youth clients
    • US$271,950 in youth savings
    • US$72,500 in loans to 5,476 youth
    • 38,270 youth received financial education
  • PAMECAS - Senegal

    Partenariat pour la Mobilisation de l'Epargne et le Crédit au Sénégal (PAMECAS) is a microfinance institution with the strategic goal of providing financial services to improve the quality of life for people in Senegal. PAMECAS provides services to over 89,800 clients with deposits reaching almost US$74 million. More than 204,000 clients have received loans that amount to more than US$68.3 million.

    With the support of YouthStart, PAMECAS targets youth with an innovative model. PAMECAS partners with Plan International and village savings and loans associations. Upon joining PAMECAS, the youth have already accumulated assets within their group and some have already started their own business either through savings or loans, but now they can obtain larger loans. This approach allows PAMECAS to support the scaling up of savings, credit and financial education through existing groups of young people.

      Outreach under the YouthStart programme:

    • 13,960 youth clients
    • US$1.2 million in youth savings
    • US$360,300 in loans to 1,000 youth
    • 6,610 youth received financial education
  • PEACE - Ethiopia

    Poverty Eradication and Community Empowerment (PEACE) is an Ethiopian institution with the mission to serve the entrepreneurial poor by providing sustainable and quality services for employment and income generation. The ultimate objective of PEACE is to enhance household food security in rural and urban Ethiopia. PEACE currently serves over 48,670 clients whose deposits reached over US$1.4 million. PEACE has provided loans worth over US$4 million to more than 21,840 borrowers.

    With the support of YouthStart, PEACE launched a voluntary youth savings account called Lenege, which means 'for tomorrow,' to harness the potential empowering benefits for youth of accumulating financial and social assets. This product is directed at young boys and girls, both in and out of school, with marketing activities and financial education being directly delivered by PEACE at schools, at PEACE branches and in the communities.

      Outreach under the YouthStart programme:

    • 20,200 youth clients
    • US$16,000 in youth savings
    • Loans to 520 youth
    • 44,000 youth received financial education
  • RCPB - Burkina Faso

    Réseau des Caisses Populaires du Burkina Faso (RCPB) is a leading microfinance institution in Burkina Faso whose mission is to help improve the living conditions of its members, as well as of the greater community, in the spirit of solidarity and of individual and collective responsibility. RCPB currently serves almost 1 million clients with deposits of over US$17.8 million and has provided 70,900 borrowers with loans reaching more than US$152 million.

    As the leading financial service provider in Burkina Faso, RCPB developed Epargne Jeune for youth, which offers no monthly fees on accounts. RCPB targets in- and out-of-school youth across the country and provides in-house financial education sessions to its youth clients.

      Outreach under the YouthStart programme:

    • 15,460 youth clients
    • US$2.3 million in youth savings
    • US$7,000 in loans to 36 youth
    • 19,000 youth received financial education
  • Umutanguha - Rwanda

    Umutanguha Finance Ltd. (Umutanguha), formally known as Union of Savings and Credit Cooperative Umutanguha (UCU), began as a microfinance institution focussed on facilitating access to financial services and accompanying non-financial services to all excluded populations, mainly those living in rural areas and with a particular focus on widows, orphans, youth and women, in order to enable them to save and to create income-generating activities through loans. Umutanguha has served over 74,000 clients with deposits of more than US$1.3 million and provided loans to 5,270 borrowers with a portfolio of US$2.6 million.

    Under the YouthStart programme, Umutanguha piloted an innovative approach to youth by creating a microleasing product. This approach offers great potential for linking youth to financial services as well as promoting economic opportunities for youth. Youth clients of Umutanguha acquire start-up kits to begin working in sectors that hold great potential, such as agriculture, technology or construction.

      Outreach under the YouthStart programme:

    • 25,430 youth clients
    • US$191,000 in youth savings
    • US$170,600 in loans to youth
    • 24,7000 youth received financial education

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