At just over 7 million, the 16 to 24-year-old segment in Tanzania makes up over a quarter of the adult population, but accounts for a third of the overall financially excluded population.
In terms of their participation in the financial sector, over 50% of youth use mobile money, but their take-up of formal banking, insurance, credit and savings products and services is low. This presents a significant opportunity for public and private stakeholders to find innovative ways to improve their financial inclusion and enable them to contribute to the financial growth of the country.