YFS Case Study No.8: MEDA Works with Youth: YouthInvest

Author

Jennifer Denomy, Mennonite Economic Development Associates (2009)

Abstract

Mennonite Economic Development Associates (MEDA) is delivering financial services to young people through the following three projects: YouthInvest in Egypt and Morocco; Promoting and Protecting the Interests of Children Who Work (PPIC Work) in Egypt; and Afghan Secure Futures in Kabul, Afghanistan. This case study provides a more detailed look at YouthInvest, a five year initiative focusing on entrepreneurship training, financial education and increased access to financial services (loans and savings) for economically active young people in Egypt and Morocco. YouthInvest partners with microfinance institutions (MFIs) and NGOs to deliver financial and non-financial services to young entrepreneurs and employees. In addition to making the case to MFIs, market research formed a key strategic component of YouthInvest’s work. The results of the market research survey were given to partner MFIs and NGOs and youth specific products and services are designed to respond to the expressed needs of youth. A key lesson learned was that it is essential to maintain a balance between what youth need and what MFIs can actually offer in terms of cost and feasibility. Thus, for this reason, YouthInvest is involved in managing expectations on both sides, ensuring that MFIs and young potential clients find common ground. YouthInvest will expand into Egypt in 2009 where the market study will delve more deeply into the evolution of youth as clients: how will their needs change over time, and how can MFIs serve youth as lifelong clients?

Keywords

Afghanistan; Egypt; Entrepreneurship Training; Expectations; Financial Education; Financial Services; MEDA; Microfinance Institutions; Morocco; NGOs; PPIC Work; YouthInvest;

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