Youth financial literacy necessary for growth

Youth financial literacy necessary for growth

Amr Banaja

Hosted by Operation HOPE in January in Atlanta (Georgia, USA), the 2016 Hope Global Forums Annual Meeting convened to Reimagine the Global Economy with a focus on ‘Inclusive Economics’. Setting forth a goal to outline a solid vision for today’s global economy, the meeting connected global leaders and Nobel Prize winners with government officials and the private sector in an effort to assist with the development of successful programs that help youth and the underserved.

Leading the efforts to deliver youth financial literacy in the region with the Riyali financial literacy program, SEDCO Holding Group participated in this fourth edition of the Hope Global Forums.

Amr Banaja – Vice-President, Corporate Communications, Marketing and Corporate Social Responsibility at SEDCO Holding Group – served as a panelist on the working group session about ‘Global Youth Unemployment’. He pointed out that “companies stand at the forefront and are responsible for demonstrating the potential of sustainable and profitable investment in financial capability. It is imperative for economy practitioners to thoroughly understand how financial inclusion is not only good for individuals, markets and countries, but also a sound business practice.” Furthermore, he said corporate social responsibility and profitability are intertwined  “contributing to the well-being of our society and supporting our communities to self-develop will ultimately underwrite the growth of business and consequently benefit the national economy. It is part of SEDCO’s DNA to withstand this mission and we aim to instill this mindset across all our CSR endeavors.”

Young people between the ages of 15 and 24 make up 17% of the world population and roughly 40% of the world’s unemployed. Youth have high levels of economic energy, but global trends of unemployment and unrest have led to large numbers of the world’s young population feeling alienated. Banaja shed light on the urgent need to strengthen and enable youth: “we must revive our economies by enabling the youth and equipping them with the skills they need to succeed. The ideal solution with today’s rising economic challenges should reside in finding ‘quick wins’ that could support inclusive and sustainable growth in the coming years.”

John Hope Bryant, Founder, Chairman and CEO of Operation HOPE, the leading non-profit global financial organization, said “we are pleased to have Amr Banaja join us this year again in Atlanta. The Group’s experience always unveils new and intriguing solutions that will benefit many on an international scale.”

The three-day annual meeting topics covered the new and modern global economy, and demonstrated how community can serve as a call to action to inspire innovation and thought leadership to achieve economic growth and financial stability. — SG