 launched the Kefeta National Youth Saving ...){kind=link}
US Embassy Addis Ababa
Press Release
Addis Ababa – The United States Government through its Agency for International Development (USAID) launched the Kefeta National Youth Saving and Credit Cooperatives (SACCO) on September 5, a youth-led, youth-managed and youth-owned financial institution that will provide financial solutions friendly to young people and will support young entrepreneurs. The launch took place during the two-day Youth Development Learning Forum held September 5 and 6 at the Skylight Hotel.
Kefeta’s SACCO mobilizes savings and provides access to affordable credit to assist the economic well-being of young people with a creative mix of youth-tailored financial products. The National SACCO puts their member’s interest first and provides a level of service generally unavailable to young people at other financial institutions.
Knowledge of financial concepts like saving, investing, spending and borrowing is the foundation of financial literacy and contributes to a sense of financial security for all people, but most needed by young people as they seek careers and independence. The National Youth SACCO, with branches in 18 Ethiopian cities, has over 7,800 youth members who own more than 38,900 shares and 59,007,640 Birr (USD 531,800) in savings.
The Youth Development Learning Forum brought together key stakeholders, including government officials, youth representatives, and development experts to discuss challenges, opportunities, and best practices around youth access to finance in Ethiopia. The Forum featured panel discussions with successful young entrepreneurs and digital literacy influencers, sharing their experiences and insights.
USAID Mission Director Scott Hocklander, who gave the keynote address at the launch, said that with access to credit and finance, “there will no longer be the kind of hurdles that keep youth from participating in Ethiopia’s future.”
__
Join our Telegram Channel : t.me/borkena
Like borkena on Facebook
Add your business to Ethiopian Business Listing / Ethiopian Business Directory
Join the conversation. Follow us on X (Formerly Twitter) @zborkena to get the latest Ethiopian News updates regularly. Subscribe to YouTube channel To share information or for submission, send e-mail to info@borkena.com
The launch of the Kefeta National Youth Saving and Credit Cooperatives is a great step towards empowering young people financially. It’s exciting to see initiatives that promote youth entrepreneurship and economic independence!
Only if the motivation is what you understood it to be…’help’, perhaps… but needs to be taken with the understanding that their might be a hoiden expectation in getting -trust to ‘influence’ .
“America has no permanent friends or enemies, only interests.”
Hennery Kissinger
Link = youtube.com/watch?v=NK1tfkESPVY
Link= youtube.com/watch?v=UwerBZG83YM
Be well