Stanbic Bank invests in future with new Youth Banking Proposition

Stanbic Bank Ghana has unveilled its new Youth Banking Proposition, an innovative solution tailored to meet the unique financial needs of young Ghanaians.

It marks a major milestone in the bank’s commitment to advancing financial inclusion and empowering the country’s youth for financial independence.

Speaking at the launch event in Accra, Kwamina Asomaning, Chief Executive-Stanbic Bank Ghana, noted the importance of Africa’s youth to the continent’s development and the need to have tailored 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 said.

He continued: “At Stanbic Bank we say Africa is our home, and we drive her growth with innovative solutions. These solutions may come in many forms; such as offering learning experiences and equipping our youth with skills through internships and talent development.

“The solutions that our youth banking proposition offer are strategically designed to empower the youth and recognise their role as key contributors to Ghana’s economic growth and the advancement of entrepreneurship and innovation”.

Head-Private and Personal Banking, Stanbic Bank Ghana, Ben Mensah elaborated on the new youth banking proposition’s purpose. He noted that: “The Stanbic Youth Banking Proposition 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, starting a business or managing their daily financial needs, our goal is to provide a tailored solution that meets them where they are”.

He added: “Our purpose as a bank places a unique responsibility on us to pay attention to the things that are critical growth-drivers – and our youth are one of such critical growth-drivers. Our efforts also reflect our belief that investing in youth development is more than a moral responsibility; it is a strategic investment with high returns. We understand that by equipping young people with the right skills and opportunities, we are contributing to initiatives that drive the country’s growth”.

Harry Opoku-Agyemang, Head-Personal Banking, Stanbic Bank said: “Youth banking is not 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”.

The proposition covers two distinct account types:

BluFirst Account: Which is an interest-bearing trust account designed for those aged 0-17 years. This account allows 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 the gift of a piggy-bank to promote early saving habits.

GenBlu Account: For individuals aged 18-25, this 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 programmes 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 realise their business ambitions.

The post Stanbic Bank invests in future with new Youth Banking Proposition appeared first on The Business & Financial Times.

Read Full Story