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YEEF is involved in several community-based activities with the aim of educating youths and young farmers about financial literacy and encouraging a healthier, more sustainable business investment life. Our two-pronged approach includes the provision of literacy trainings and economic empowerment, through a variety of programs.
Expanding Financial Inclusion
Financial education without financial inclusion is of limited value. That’s why strong financial literacy programs improve not just the knowledge of youths but their financial behavior and, when necessary, their access to financial products, services, and markets. YEEF together with NCBA Bank are consistently looking out for avenues to provide a balanced approach to financial access of different financial products available for students and investment groups among others.
Primary, elementary, middle, high school and university students have benefited greatly from the exposure YEEF’s financial education programs based in schools, universities, and the community. At YEEF, we believe that basic financial habits and attitudes are formed early and a foundation for future financial learning and behavior is set. Our youth programs are creative, engaging, research-based, and include expert training and clear metrics to monitor impact. Such programs have been shown to improve young people’s financial knowledge, attitude, and behavior.
Postsecondary Access and Completion
We believe that financial education can be critical in helping young people at three critical stages of the postsecondary education process: access, completion, and loan repayment. First, financial education directed at students and parents can help them see the financial value of postsecondary education, especially in first-generation college households. Second, strong campus-based financial literacy programs and counseling can help students figure out how to manage their financial aid packages and budget their money so that they can afford to successfully complete the academic programs they start. Finally, money management tools and educational support are essential to help students who are entering the loan repayment stage just as they are starting their professional lives and learning to manage tremendous amounts of student debt. All of these objectives become even more challenging as growth in the cost of postsecondary education continues to outpace inflation.
In many developing and emerging economies, microfinance, mobile payment systems, branchless banking and wider access to remittances have opened up exciting opportunities for the poor to improve their lives. But these advances can bring financial peril along with a promise. At YEEF, we empower youths with education about basic financial product usage, awareness education about financial fraud, and avenues for redress as they are vulnerable to both honest mistakes and bad actors.
Business and Investment Education
YEEF provides financial literacy training, mentorship, and business guidance to youth entrepreneurs. They are taught about business sustainability approaches and grant management through training that emphasizes understanding the target market through in-depth market research, drafting professional business plans, and creating bankable financial models that can enable them to minimize market risk and gain competitive branding benefits.
Underemployment and the lack of employment opportunities for young people are considered as one of the most significant socioeconomic and security challenges we face. The consequences for young people to build a prosperous future are far-reaching, but wider communities can also suffer from the possible effects of high levels of youth unemployment; namely poverty, violent extremism, political instability, drugs, and crime. At YEEF, we also promote a savings and investment culture among African youths by;
- Partnering with financial institutions such as Banks and Telecommunication companies to create a savings platform for youths
- Creating a mutual online platform with the intent to empower young leaders to create sustainable job opportunities in selected regions.
- Leveraging the potential of young people as widely as possible for job creation and highlight their potential as a solution to fostering prosperous and peaceful societies.
- Raising awareness of youth unemployment opportunities and sharing best practices.