YES News

Speech By Ms Helga Boadi, Chief Executive Officer Of Youth Enterprise Support (YES) At The CYFI Regional meeting for Africa held in Accra, Ghana

Friday, December 11, 2015

Good morning and a special warm Akwaaba to our foreign visitors and delegates.

 

I am extremely delighted and excited to welcome you all to the 4th CYFI Regional Meeting for Africa. 

 

This 3-day meeting presents a unique opportunity for us to think seriously about the issues facing young people in Africa and around the globe. It is a unique platform that gives the youth a voice, and makes them a part of their own solutions through increasing financial education, financial access, employability and entrepreneurship skills. 

 

Indeed our youth are a valuable social and economic resource. They are tomorrow's leaders, entrepreneurs and economic actors. It is therefore important that we promote meaningful inclusion by listening to them, working with them and supporting them to grow.

 

The theme for this conference “Advancing Youth Economic Empowerment for Inclusive Growth” is most relevant and falls in line with our core mandate as an institution and we are excited to partner MASLOC and CYFI in hosting this event in Ghana.

 

For many of us the word youth represents dreams, innovation, and new exciting opportunities. Sadly, many of these dreams and opportunities are being frustrated.

 

·       In 2012, 75 million of the world's youth were unemployed, which is the highest youth unemployment rate on record. 

 

·       In 2013, the number remained alarmingly high, with 73 million youth unemployed. 

 

·       Of the estimated 200 million unemployed people globally in 2014, about 40% were between the ages of 15 and 24 according to the International Labour Organization (ILO).

 

Indeed youth unemployment is a major challenge facing many African economies including Ghana. This places a significant burden on the tax payers of the affected countries.

 

 

Children in sub-Saharan Africa make up approximately 47.30% of the population, and only 16.8% of those between the ages of 15 – 25 years hold accounts at formal financial institutions. These frightening statistics prolong and deepen youth poverty. 

 

Financial inclusion and education are therefore essential catalysts for our youth to escape poverty, and achieve their full potential as economic citizens.

 

 

Whilst we herald economic growth as a key development goal of our governments in Africa, it is imperative that such growth meaningfully includes the continent’s high proportion of youth. 

 

YES strongly believes that financial inclusion and education strategies are key tools that promote the economic citizenship of the youth and reduce their disproportionate risk of poverty. 

 

As adults, most of us know how to read. We have gone through the struggle and frustration of becoming literate. Thankfully, that is one thing our schools do relatively well. Unfortunately, for most adults financial literacy is sorely lacking. 

 

Nearly every person who graduates from school is financially illiterate. It is important that we enhance the "financial intelligence” of our youth and rekindle the spirit of saving at all key levels, namely the home, school and in our institutions.

 

Indeed, young persons who sow a financial seed today will reap a good harvest tomorrow. 

 

Our experience over the past year at YES proves that young persons who are financially aware and active are able to positively impact and reshape their destiny. It is not surprising therefore that one of our achievements has been selected by Ye! To participate in Wednesday's pitching event.

 

This important conference brings together all relevant stakeholders and promises to address all the issues and also identify effective strategies and solutions to the challenges faced by our youth.

 

I therefore wish to welcome you all to this conference here in Accra. To our international participants, I say a big welcome and a happy stay in Ghana.

 

 

 

Thank you

 

SPEECH BY MS HELGA BOADI, CHIEF EXECUTIVE OFFICER OF YOUTH ENTERPRISE SUPPORT (YES) AT THE CYFI REGIONAL MEETING FOR AFRICA HELD IN ACCRA, GHANA

 

 

 

Good morning and a special warm Akwaaba to our foreign visitors and delegates.

 

I am extremely delighted and excited to welcome you all to the 4th CYFI Regional Meeting for Africa. 

 

This 3-day meeting presents a unique opportunity for us to think seriously about the issues facing young people in Africa and around the globe. It is a unique platform that gives the youth a voice, and makes them a part of their own solutions through increasing financial education, financial access, employability and entrepreneurship skills. 

 

Indeed our youth are a valuable social and economic resource. They are tomorrow's leaders, entrepreneurs and economic actors. It is therefore important that we promote meaningful inclusion by listening to them, working with them and supporting them to grow.

 

The theme for this conference “Advancing Youth Economic Empowerment for Inclusive Growth” is most relevant and falls in line with our core mandate as an institution and we are excited to partner MASLOC and CYFI in hosting this event in Ghana.

 

For many of us the word youth represents dreams, innovation, and new exciting opportunities. Sadly, many of these dreams and opportunities are being frustrated.

 

·       In 2012, 75 million of the world's youth were unemployed, which is the highest youth unemployment rate on record. 

 

·       In 2013, the number remained alarmingly high, with 73 million youth unemployed. 

 

·       Of the estimated 200 million unemployed people globally in 2014, about 40% were between the ages of 15 and 24 according to the International Labour Organization (ILO).

 

Indeed youth unemployment is a major challenge facing many African economies including Ghana. This places a significant burden on the tax payers of the affected countries.

 

 

 

Children in sub-Saharan Africa make up approximately 47.30% of the population, and only 16.8% of those between the ages of 15 – 25 years hold accounts at formal financial institutions. These frightening statistics prolong and deepen youth poverty. 

 

Financial inclusion and education are therefore essential catalysts for our youth to escape poverty, and achieve their full potential as economic citizens.

 

 

 

Whilst we herald economic growth as a key development goal of our governments in Africa, it is imperative that such growth meaningfully includes the continent’s high proportion of youth. 

 

YES strongly believes that financial inclusion and education strategies are key tools that promote the economic citizenship of the youth and reduce their disproportionate risk of poverty. 

 

As adults, most of us know how to read. We have gone through the struggle and frustration of becoming literate. Thankfully, that is one thing our schools do relatively well. Unfortunately, for most adults financial literacy is sorely lacking. 

 

Nearly every person who graduates from school is financially illiterate. It is important that we enhance the "financial intelligence” of our youth and rekindle the spirit of saving at all key levels, namely the home, school and in our institutions.

 

Indeed, young persons who sow a financial seed today will reap a good harvest tomorrow. 

 

Our experience over the past year at YES proves that young persons who are financially aware and active are able to positively impact and reshape their destiny. It is not surprising therefore that one of our achievements has been selected by Ye! To participate in Wednesday's pitching event.

 

This important conference brings together all relevant stakeholders and promises to address all the issues and also identify effective strategies and solutions to the challenges faced by our youth.

 

I therefore wish to welcome you all to this conference here in Accra. To our international participants, I say a big welcome and a happy stay in Ghana.

 

 

 

Thank you

 

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