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Ghana: Stanbic Bank Ghana Launches Youth Banking Proposition

Stanbic Bank Ghana has unveiled its new Youth Banking Proposition, an innovative solution tailored to meet the unique financial needs of young Ghanaians. This initiative marks a significant milestone in the bank’s commitment to advancing financial inclusion and empowering the country’s youth towards financial independence.

At the launch event in Accra, Chief Executive of Stanbic Bank Ghana, Kwamina Asomaning, highlighted the critical role of Africa’s youth in the continent’s development and the necessity of tailored financial solutions for them. “With over 400 million individuals between the ages of 15 and 35, Africa is the youngest continent globally. This demographic is not only a potential powerhouse but a vital part of our future, and their aspirations and needs must be front and centre,” he remarked.

Asomaning further emphasized the bank’s dedication to driving growth with innovative solutions, including offering learning experiences and equipping youth with skills through internships and talent development. The youth banking proposition aims to empower young people and recognize their role as key contributors to Ghana’s economic growth and the advancement of entrepreneurship and innovation.

Head of Private and Personal Banking at Stanbic Bank Ghana, Ben Mensah, elaborated on the purpose of the new proposition, noting that it is designed to be more than just a bank account. “It is a platform that will offer access to financial and non-financial services, helping young people gain skills, access opportunities, and navigate the transitions they face as they move into adulthood. Whether they are seeking to further their education, start a business, or manage their daily financial needs, our goal is to provide a tailored solution that meets them where they are,” he explained.

The Youth Banking Proposition covers two distinct account types. The BluFirst Account is an interest-bearing trust account designed for those aged 0-17 years, allowing young customers to begin their financial journey with the support of a parent or guardian acting as trustee. It includes features such as digital banking services, free SMS alerts, and a piggy-bank to promote early saving habits. For individuals aged 18-25, the GenBlu Account offers affordable, no-maintenance-fee banking with an opening balance as low as GH¢20. GenBlu customers gain access to 24/7 digital banking and eligibility for financial literacy programs at the Stanbic Business Incubator, supporting young entrepreneurs with mentorship and business development resources.

Stanbic’s Youth Banking Proposition also provides unique benefits to foster financial literacy, including educational resources on budgeting, saving, and investing, alongside exclusive masterclasses. Through its comprehensive offerings, Stanbic Bank is equipping the next generation with essential financial and digital skills while providing a pathway for young innovators to realize their business ambitions.

Head of Personal Banking at Stanbic Bank, Harry Opoku-Agyemang, emphasized that youth banking is not just a product but an invitation for young people to step into a world of opportunity, where their dreams are nurtured, and their future can be built on a strong financial foundation.

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