Entrepreneurship: the financial inclusion of young people and women in debates in Conakry

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As part of its initiative to promote the financial inclusion of women and young people, the African Center for Economic Transformation "ACET" organized on Wednesday, January 23, 2019 in a hotel of the place, a validation workshop of the study promoting the financial inclusion of women and youth for entrepreneurship and job creation.

Some 60 participants, from NGOs, the Ministry of Youth, the Social Action and Women Promotion, banks, micro-finance institutions and other related associations, took part in this exchange meeting. .

During his remarks, the Senior Director of Research and Policy Advice of the ACET pan-African organization, Dr. Edward K. Brown, will recall that the purpose of this workshop is to present the preliminary results of the Promotional Study. the financial inclusion of women and young people in Guinea and to obtain feedback from resource persons, particularly the government and other actors in the financial sector.

"This workshop is therefore an opportunity to gather additional qualitative data on the problem of inclusion of women and young people in the financial field. So we did the study across several social layers but still there is need to validate now the results of studies, "said Dr. Brown.

For his part, representing the Minister of Higher Education in Guinea, the National Director of Higher Education Dr. Lansana Sylla said that his department is part of the creation of employment for young people.

"Our financial inclusion strategy advocates a responsive, development-oriented financial system that meets the needs of the Guinean population, where most of it is rural, where 80% of women live in agriculture and over 60% of their population lives in agriculture. young people are unemployed (…). The banking penetration of our country is 15%. The Department is pleased to note that much work has been done in this area to ensure that a strategy is developed. For example, the Central Bank is currently finalizing a global strategy document. Within our department, we have tried to promote the training that is absolutely necessary for economic development and to follow the students in their professional integration since there is a large number coming out of our universities. So, the Ministry of Higher Education is still looking for the niche to facilitate the employment of these young people, "said Dr. Lansana Sylla.

During the workshop, the results of the study on the situation of women and young people in the context of banking services were discussed. According to the results of the study presented by Mr. Sadio Diallo, women represent 56% of the unbanked adult population and 33% of young people are less likely to create savings accounts.

Participants in this workshop appreciated the importance that organizers attach to the financial inclusion of women and youth in Guinea. According to the chairman of the Board of MUFFA (Mutuelle Financières des Femmes Africaines) of Matoto, Ms. Kéita Hadja Djénabou, "financial inclusion helps women to be autonomous and independent for the development of their business. Since the creation of MUFFA in Guinea for example, women have been able to develop their own businesses in all sectors. There are women market gardeners who are doing very well with the little they earn and have been able to improve their living conditions. "

Ms. Kéita has also requested the multiplication of training by partners to make their activities more profitable and sustainable. Because, she will say, if there is no follow-up or financing, the company will not go far.

Participating in this activity on behalf of Global Services, an NGO working in the field of financial inclusion, Alioune Kandjé, for her part, said: "The financial inclusion approach of women and young people brings an idea original idea that could take off the basic principle of development in African countries. And today, which speaks of development, speaks of a whole process for the involvement of every citizen. For the take-off of African countries, women and youth should be at the heart and inclusively within projects in both urban and rural areas. "

Talking about development through financial inclusion, Habib Diallo, one of the participants in the said workshop, invited the government to facilitate access to credit.

"It will be necessary for the state to take its responsibilities by drafting laws in the direction of being able to facilitate access by young people to different credits so that they can flourish, invest, create income-generating activities. at the local level, at the national level. The state has the obligation to popularize the texts even in the national languages. The finding today is that even in universities, young people do not know that there is the possibility of receiving a certain amount of funding from the country's financial institutions. There is total ignorance. In addition, it is also the duty of banks and micro-finance institutions to go to the citizens to sell their services. So this validation workshop is very beneficial, but there is work to do upstream, "said Habib Diallo.

It should also be noted that, in addition to Guinea, five other countries on the African continent are involved in this study based on the financial inclusion of women and young people for entrepreneurship and job creation.

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