Panel Session and Discussion with the Audience
Youth Financial Inclusion and Entrepreneurship
Au-delà des services financiers, que veulent les jeunes entrepreneurs ? -
What do youth entrepreneurs need in addition to financial services?
Organized by University Meets Microfinance, a PlaNet Finance program
in the frame of the European Microfinance Platform "UMM" Action Group,
and Club Microfinance Paris in partnership with Convergences
Wednesday, June 24th, 2015 - 6 pm
HEC Paris – 6 avenue de la Porte de Champerret Paris 75017 – Métro de la Porte de Champerret
In addition to the panel discussion, the newest European Dialogue titled
More Inclusive Finance for Youth: Scalable and Sustainable Delivery Models for Financial and Non-Financial Services
will be available for participants. The publication includes 7 case studies and was published by the European Microfinance Platform Youth Financial Inclusion Action Group.
About Youth Financial Inclusion and Entrepreneurship
There are 1,2 billion young people aged 15 – 24 years, most of them living in developing countries. According to the recently published World Employment and Social Outlook report by the ILO, the youth unemployment rate reached 13.0 per cent in 2014 meaning almost 73 million youth worldwide are looking for work, which is almost three times higher than the unemployment rate for adults.
Youth are particularly vulnerable to economic obstacles due to lack of education and employment, which denies them access to savings accounts, payments, credits and insurance. Furthermore, youth face restrictions in the legal and regulatory environment but also in access to financial products and complementary services.
The necessity of youth financial services becomes evident because youth have financial goals such as paying school fees, helping out with family expenses or starting small enterprises. In order to ensure financial inclusion for youth, sustainable and innovative services tailored to the specific needs of youth and their life goals is important.
At the same time capacity building activities including financial education, business skills training, entrepreneurship development and mentorship are showing important impacts on the capacity for youth to develop sustainable enterprises.
Many experiences show that achieving successful youth economic inclusion requires a multi stakeholder approach.