In the Southern and Eastern Mediterranean countries, where youth make up half of the population, youth are critical to long-term development. They will be able to play their full role as the engine of inclusive growth resulting from digital financial inclusion. To attain improved financial inclusion rates in the region, efforts must be reproduced and multiplied while learning from each other's experiences. This is required to improve the resilience of the youth population, which has been disproportionately affected by the COVID-19 problem.
Today, this article will highlight why youth digital financial inclusion is essential, its challenges, and how they can be eradicated. So let’s get started.
Why Digital Financial Inclusion Is Important
When it comes to young people, financial inclusion is critical in broadening the range of opportunities available to them to improve their current and future lives. Youth can invest in their education to boost their employability and future professional prospects by using formal financial services. It allows people to gain their autonomy in society (housing, future planning) and become active socioeconomic agents in their country. Furthermore, having access to financial services and goods allows young people to start their businesses and contribute to new jobs.
Read more: https://www.emeriobanque.com/blogs/advancing-the-digital-financial-inclusion
