Why girls in Malawi?

 We view Student Driven Solutions as a case study for the nation. Our program can provide an innovative solution to address the critical concerns surrounding financial inclusion in Malawi by empowering girls and women in the country.

Over 45% of the country under the age of 14, young people matter.[1]

Student Driven Solutions focuses on the youth of Malawi who hope for a greater future, not only for themselves but also for their villages and their nation.

Girls are left behind.

  • By age 19, a third of girls are married, 7% have given birth, and only 13% are in school. [2][3][4]
  • Women total 60% of the HIV population and 5% of adolescent females are HIV positive.[5]
  • Young motherhood contributes to a cycle of poverty wrought with unsustainable population growth and poor health outcomes.

Educating a girl can change this.

  • Educated girls are less likely to contract HIV and, thus, less likely to pass it onto their children.[6]
  • Women will invest 90% of their income to their families.[7]
  • One year of schooling can result in a 10% decrease in fertility and a 25% increase in wages.[8] Investing in a girl creates a ripple effect.

Why our approach to solving the crisis for girls’ in Malawi?

  • Only 18% of Malawians save on a regular basis and a mere 15% of Malawians hold bank accounts.[9][10]
  • The average Malawian does not prepare for longterm medical or school fees.[11]
  • But… Financial literacy encourages families to understand the value of saving for expected and unexpected important long-term costs such as education and healthcare. It promotes the stability of financial and economic systems as well as economic growth and development. An increase in financial education fosters competition and limits corruption.[12]
  • The Reserve Bank of Malawi suggests, “multiple stakeholders should be used in the delivery of financial education programs in Malawi…There is need to revisit the education curriculum…so that basic financial skills and financial literacy are introduced.”[13]

[1] CIA World Factbook Malawi

[2] Government of Malawi, 2009

[3] World Bank, 2014

[4] Government of Malawi, 2010

[5] World Bank, 2014

[6] Global Concerns Classroom

[7] Basic Education Coalition

[8] Girl Effect

[9] World Bank, DFID, OECD and CGAP (2009) The Case for Financial Literacy in Developing Countries: Promoting Access to Finance by Empowering Consumers, Washington, DC: The World Bank

[10] Chirwa, Ephraim W., and Peter M. Mvula. Malawi: Baseline Financial Literacy And Consumer Protection Household Survey. Rep. Zomba: Reserve Bank of Malawi, 2014. Print.

[11] Ibid.

[12] World Bank, DFID, OECD and CGAP (2009) The Case for Financial Literacy in Developing Countries: Promoting Access to Finance by Empowering Consumers, Washington, DC: The World Bank

[13] Chirwa, Ephraim W., and Peter M. Mvula. Malawi: Baseline Financial Literacy And Consumer Protection Household Survey. Rep. Zomba: Reserve Bank of Malawi, 2014. Print.