Addis Ababa, Ethiopia, September 5, 2024 – The United States Agency for International Development (USAID)’s Integrated Youth Activity, Kefeta, reached a significant milestone today with the nationwide launch of the Kefeta Youth Savings and Credit Cooperative (SACCO), marking a transformative step in empowering Ethiopia’s youth.
The announcement was made during the Youth Development and Learning Forum, a two-day event held at the Skylight Hotel in Addis Ababa. Kefeta proudly unveiled the official registration of its youth-led SACCO on a national scale, an initiative designed to address one of the most pressing challenges faced by young people—especially women and those with disabilities—access to finance.
To overcome this barrier, the Amref Health Africa-led USAID Integrated Youth Activity has established youth-owned and managed SACCOs in 18 key cities. These SACCOs foster a culture of saving and provide critical financial resources to support youth-driven enterprises. The numbers speak for themselves: The Kefeta Youth SACCO has already attracted more than 7,800 members, sold over 38,900 shares, and amassed nearly 60 million ETB in savings, reflecting the enormous demand for inclusive financial services among Ethiopia’s young population.
Speaking at the event, H.E. Dr Ergogie Tesfaye, Minister of Women and Social Affairs, celebrated the initiative’s far-reaching potential. “This SACCO is set to impact thousands of young people across the 18 cities, and I am optimistic it will expand further, providing even more youth with the financial tools they need to create jobs and succeed,” she remarked.
Scott Hocklander, USAID Mission Director in Ethiopia, reiterated USAID’s commitment to youth empowerment, noting that “The USAID Integrated Youth Activity will continue working alongside youth-serving organisations to ensure sustainable financial access for young people, which is essential in Ethiopia’s journey towards peace, prosperity, and self-reliance.”
Misrak Mekonnen, Country Director of Amref Health Africa in Ethiopia, highlighted the initiative’s transformative potential: “Our youth-owned, youth-managed, and youth-led SACCO is designed to meet the financial needs of Ethiopia’s young people by offering affordable, accessible, and youth-friendly financial services. This initiative is more than just financial support—it is a pathway to economic empowerment and livelihood improvement for thousands of youth across Ethiopia.”
The Youth Development and Learning Forum brought together key stakeholders—government officials, youth representatives, and development experts—to discuss the challenges and opportunities of youth financial access in Ethiopia. Attendees participated in inspiring conversations with successful young entrepreneurs and digital literacy influencers, who shared their journeys and offered valuable insights. The forum also provided a platform for youth from Kefeta cities to exchange knowledge and share experiences.
The national launch of the SACCO, alongside the forum’s rich discussions, represents a pivotal advancement in supporting the economic empowerment and well-being of Ethiopia’s youth. With USAID’s financial backing, Kefeta aims to reach two million young people in 18 urban centers, strengthening their economic, civic, and social development through an integrated and comprehensive approach.
About Amref Health Africa in Ethiopia
Amref Health Africa is the largest Africa based international non-governmental organisation currently running programmes in over 35 countries in Africa. Amref Health Africa in Ethiopia was established in 2002 and has partnered with communities and the Government of Ethiopia to implement diverse health and development programme portfolios throughout the country. We work to invest in people-centred health systems for sustainable primary healthcare services and target social determinants and emerging threats at the intersection with health to increase equitable access.
Amref leads USAID-Integrated Youth Activity – Kefeta, a holistic approach to support economic and social opportunities for youth in Ethiopia by integrating democracy and good governance, basic education, higher education, economic empowerment, and sexual/reproductive health. Kefeta aims to strengthen the youth ecosystem in Ethiopia with integrated, multi-sectoral, youth-centered programming aligned with the Positive Youth Development (PYD) approach.
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