Stanbic Bank Ghana has launched its pioneering Youth Banking Proposition, designed specifically to meet the unique financial needs of Ghana’s youth and contribute to the country's financial inclusion efforts. This new suite of offerings represents a significant step in empowering young Ghanaians with financial independence and a strong foundation for their future.
At the launch event in Accra, Kwamina Asomaning, CEO of Stanbic Bank Ghana, emphasized the crucial role of Africa’s youth in shaping the continent’s future. “With over 400 million people aged 15 to 35, Africa is not only the youngest continent but also a reservoir of untapped potential and ambition. It’s essential to recognize and address the aspirations of this dynamic demographic,” he said. Asomaning highlighted that Stanbic Bank’s commitment to Africa extends beyond banking, focusing on nurturing growth through innovative, skills-based solutions.
“These solutions take various forms,” he noted, “from hands-on learning experiences to comprehensive skill-building through internships and talent development. Our youth banking proposition aligns with this vision, offering financial tools and resources that equip young people to drive Ghana’s economic growth and contribute to entrepreneurship and innovation.”
Ben Mensah, Head of Private and Personal Banking at Stanbic Bank Ghana, explained that the Youth Banking Proposition is designed to be more than a bank account—it’s a holistic platform to support young people’s journeys into adulthood. “Whether they’re pursuing higher education, starting a business, or managing daily finances, our tailored services meet them where they are and support them through life’s key transitions,” Mensah said.
The Youth Banking Proposition includes two distinct account types, each crafted to serve different age groups with tailored benefits:
BluFirst Account (Ages 0-17): This is an interest-bearing trust account for children and teens, managed by a parent or guardian acting as a trustee. Designed to encourage young Ghanaians to develop healthy financial habits from an early age, the BluFirst Account offers digital banking, free SMS alerts, and a complimentary piggy bank to promote savings.
GenBlu Account (Ages 18-25): Targeting young adults, the GenBlu Account offers a no-maintenance-fee banking experience, with an opening balance requirement as low as GH¢20. GenBlu Account holders enjoy 24/7 digital banking access and can participate in financial literacy programs at the Stanbic Business Incubator. These programs provide young entrepreneurs with mentorship, business development resources, and training.
Stanbic Bank’s Youth Banking Proposition aims to enhance financial literacy among Ghana’s youth. Through educational resources, masterclasses, and practical tools for budgeting, saving, and investing, young Ghanaians gain access to essential skills needed for financial independence.
Harry Opoku-Agyemang, Head of Personal Banking at Stanbic Bank, underscored that youth banking is “an invitation for young people to step into a world of opportunity,” where they can build their futures on solid financial ground.
Through this initiative, Stanbic Bank Ghana is not only addressing the immediate financial needs of young Ghanaians but also strategically investing in the country’s long-term growth by equipping the next generation with critical financial and digital skills. This comprehensive approach aims to create a generation of financially empowered youth ready to contribute to the nation’s economic and entrepreneurial landscape.
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Kwamina Asomaning, CEO of Stanbic Bank Ghana