Stanbic Bank Ghana Launches Youth Banking Proposition to Empower Young Ghanaians for Financial Independence
Stanbic Bank Ghana Launches Youth Banking Proposition to Empower Young Ghanaians for Financial Independence
- Stanbic Bank Ghana has launched its new Youth Banking Proposition
- The Stanbic Youth Banking Proposition is more than just a bank account
- Stanbic Bank is equipping the next generation with essential financial and digital skills
Stanbic Bank Ghana has launched its new Youth Banking Proposition, an innovative initiative designed to address the unique financial needs of young Ghanaians.
This development marks a significant step in the bank’s commitment to promoting financial inclusion and empowering the youth towards financial independence.
At the launch event in Accra, Kwamina Asomaning, Chief Executive of Stanbic Bank Ghana, emphasized the crucial role of Africa’s youth in the continent’s development, highlighting the necessity for tailored financial solutions.
“With over 400 million people aged 15 to 35, Africa is the youngest continent globally. This demographic is not only a potential powerhouse but also a vital part of our future. Their aspirations and needs must be prioritized,” he stated.
Asomaning added, “At Stanbic Bank, we see Africa as our home and are committed to driving her growth through innovative solutions. These solutions come in various forms, such as providing learning experiences and equipping our youth with skills through internships and talent development.”
Ben Mensah, Head of Private and Personal Banking at Stanbic Bank Ghana, elaborated on the purpose of the new Youth Banking Proposition. He explained, “The Stanbic Youth Banking Proposition is more than just a bank account; it’s a platform that offers both financial and non-financial services. It helps young people acquire skills, access opportunities, and navigate the transitions they face as they enter adulthood.”
He continued, “Our aim is to provide tailored solutions that meet young people where they are, whether they are furthering their education, starting a business, or managing everyday financial needs.”
Mensah highlighted the bank’s responsibility to focus on critical growth drivers, stating, “Our youth are one of those vital drivers. Investing in youth development is not only a moral obligation; it is a strategic investment with substantial returns. By equipping young people with the right skills and opportunities, we contribute to initiatives that spur national growth.”
Harry Opoku-Agyemang, Head of Personal Banking at Stanbic Bank, remarked, “Youth banking is not merely a product; it’s an invitation for young people to step into a world of opportunity, where their dreams can flourish and their futures can be built on a solid financial foundation.”
The Youth Banking Proposition includes two distinct account types:
- BluFirst Account: An interest-bearing trust account for ages 0-17, allowing young customers to begin their financial journey with parental or guardian support. It features digital banking services, free SMS alerts, and a piggy bank gift to encourage early saving habits.
- GenBlu Account: Designed for individuals aged 18-25, this account offers affordable, no-maintenance-fee banking with an opening balance as low as GH¢20. GenBlu customers enjoy 24/7 digital banking access and are eligible for financial literacy programs at the Stanbic Business Incubator, which provides mentorship and business development resources for young entrepreneurs.
Additionally, Stanbic’s Youth Banking Proposition includes unique benefits aimed at fostering financial literacy, such as educational resources on budgeting, saving, and investing, along with exclusive masterclasses.
Through its comprehensive offerings, Stanbic Bank is equipping the next generation with essential financial and digital skills while paving the way for young innovators to achieve their business goals.
