AFI has accepted responsibility for issuing a major industry award in youth financial inclusion, taking over from Child and Youth Finance International (CYFI), a Netherlands-based non-governmental organization (NGO) that is bowing out from its role.

AFI Executive Director Dr. Alfred Hannig officially completed the handover of the Global Inclusion Awards at a Dutch National Bank during a ceremony in Amsterdam on 11 December. The award recognizes those who have furthered the economic citizenship of children and youth at the national, regional and international level by demonstrating innovation in financial, social and livelihoods education, financial inclusion and entrepreneurial support for children and youth.

The move further cements AFI’s commitment to youth financial inclusion, as demonstrated at the 2019 AFI Global Policy Forum in Rwanda when member institutions unanimously approved the Kigali Statement, thereby renewing their commitments to accelerate financial inclusion for disadvantaged groups, including youth and leave no one behind

“The hand-over comes at the right time for AFI and is synergetic to AFI’s mission and objectives,” Dr. Hannig said and thanked CYFI for its confidence and trust in handing over the awards to AFI.

“We expect to commence the awards during 2020 AFI Global Policy Forum in Jordan, together with AFI’s Awards that instill best practices in the network and beyond in high impact financial inclusion policies”, Dr. Hannig said and reiterated AFI’s  commitment  to elevate the Global Inclusion Awards in advancing Youth Financial Inclusion.

He added that the network will continue working with partners, developed country regulators and the international development community to advance financial inclusion policies and regulations, as well as acknowledge best practices through the provision of awards

The foundation to address and further develop Youth Financial Inclusion is already built into the existing AFI workstreams, including national financial inclusion strategies, digital financial services, SME financing, data collection and financial education, Dr. Hannig concluded.

The Global Inclusion Awards have been held by CYFI for eight consecutive years, since 2011. While targeted primarily at national authorities, recipients of the awards have also included financial institutions, NGOs, and children and youth. AFI is open to collaborating with knowledge sources and partners CYFI has successfully worked with.