Over 1.7 billion people worldwide do not have a bank account, neither at a formal financial institution nor a mobile money account.
The majority live in developing countries and are unable to become financially included because they have little money, there are no banks nearby, they are unable to complete the paperwork or because they aren’t aware of the available services.
People who do not have access to financial services are much less likely to save money and are therefore less likely to have the resources to keep their children healthy, safe and in school.
A working future for young people in Uganda
In Uganda, we’re working alongside Accenture Development Partnerships and the Swedish International Development Cooperation Agency to deliver A Working Future, a programme that connects young people to financial services, provides skills training and links them to job opportunities.
As part of the project, savings groups are used to teach young people market-driven skills that help them get good jobs or spot gaps in the market to set up their own businesses. Over 12,000 youth have benefited from the programme since 2012, increasing their income by an average of 621%.
Womens' economic empowerment
In Egypt we are expanding our project portfolio to set up women savings groups together with UN Women and CARE International as a tool not only to increasing savings among members, but also to provide young women with skills, information and education on investing productively.
Investing in girls’ economic empowerment is essential to achieving gender equality. Enabling girls to learn and develop key skills can transform lives, communities and entire countries.