Listening to Youth: Market research to design financial and non financial services for youth in Sub-Saharan Africa
Presenting the research findings on the design of youth-focused financial and non-financial services.
This report presents key findings and recommendations from market research conducted by 18 financial service providers (FSPs) across 9 countries in Sub-Saharan Africa (SSA) that participated in Phase I of YouthStart.
YouthStart is a UN Capital Development Fund (UNCDF) inclusive finance programme that aims to reach 200,000 youth in SSA by 2014 with demand-driven financial and non-financial services. Phase I of YouthStart involved conducting market research to determine the design of youth-focused financial and non-financial services. Recommended best practices include:
- Consider demographic data on the situation of youth in a country, national youth policies, and the regulatory environment governing the provision of financial services for young people;
- Analyze the supply of and demand for financial and non-financial services for youth according to various sources of information;
- Examine different segments of the youth market such as age, sex, geographic location, education, occupation and marital status;
- Base recommendations for prototypes of financial and non-financial services on market segmentation and research findings;
- Service delivery models for non-financial services must account for FSP and Youth-Serving Organizations’ capacity and potential for scale.