Documents

Terms of Reference (ToR)
procurement Notice

Overview

Today, international entities such as the African Union, African Development Bank, United Nations, the G20 and the APEC Finance Ministers are stressing the importance of financial education for all specifically for women, children and the youth. For one thing, the growing sophistication of financial systems means people specifically the young people are being offered a variety of complex financial products and services, with some risks attached. Financial education linked with access to financial services will increase their knowledge of and experience with financial services, and inculcate in them good financial habits that will most likely translate into permanent financial skills and behaviour. According to the 2012 African Economic Outlook, banking coverage stands at about 120,755 people per commercial bank branch, making Ethiopia one of the most under-banked countries in sub-Saharan Africa. In Ethiopia access to finance and financial services are concentrated in urban and semi-urban areas, with Addis Ababa accounting for the majority. In the GTP, the government places greater emphasis on strengthening modern payment systems, developing regulations to international standards and facilitating access to financial services. It is expected that these initiatives will enable the current level of access to finance of 20% to reach 67% by the end of 2015. In addition, the population’s income is expected to grow in the years to come. These developments provide potential benefits to people, but they also give rise to risks which may be unfamiliar to new and prospective customers. Therefore, there is a need to equip the people with the proper knowledge and skills which help them to evaluate their options, and make the necessary and best choices suited to their needs and situations. Also provision of the financial skills and tools to the people help them manage their risks and help them protect and increase the little asset they have.