How Fintech Is Playing A Huge Role In Youth Empowerment

by May 8, 2020Uncategorized0 comments

Fintech Is Playing A Huge Role In Youth Empowerment

Over the years, there has been some sort of a silent contention about the availability of jobs for the ever-teeming population of youths graduating from our prestigious universities and other tertiary institutions every year.

While CEO’s and employers have repeatedly said that jobs exist everywhere. They are, however, saddened by tedious recruitment processes and frustrated for not being able to get the best fits for these jobs. The conclusion is the fact that there is a huge skill gap and our graduates are not adequately prepared to transit from schools to jobs.

On the other hand, thousands of graduates are produced from our tertiary institutions every year, including those who return home to compete for jobs after a few years of studying abroad.

Batch by batch these graduates are asked to go through a mandatory one-year youth empowerment program — The NYSC. As the days draw near to their ‘passing out of service,’ they become be-deviled by the one truth they have always known — there are no Jobs! But how true is this truth?

While we agree as employers that a lot needs to be done to bridge the skill gap — which is alarmingly wide, it still doesn’t account for a good number of the skilled, and unemployed young job seekers out there.

Youth empowerment cuts across so many areas. It is a process where young people are encouraged to take charge of their lives. One way of achieving this is to make jobs readily available to them. Here are a few ways Fintech is helping to empower the youths

One, Fintech is a young industry. In the past, job roles in financial institutions often require older people with long years of experience, but this is gradually changing since the inception of fintech. Fintech roles require a more tech-savvy generation to drive their innovative mobile financial solutions.

We believe that this is one of the most exciting times to work in Nigeria. Now more than ever, technology is empowering youths with a wide range of skills and specialties that allows them the opportunity to work even in the most unlikely places. More than that, it is empowering them to be their own bosses.

Two, Fintech Empowers. The Mobile money agent network of fintech companies like NOWNOW Nigeria is one great example to look at. The number of agents being recruited and empowered daily to serve as payment access points for the unbanked areas or communities in different parts of the country is quite impressive.

Mobile money agents are usually between the age of 18 and 35 and they are paid commissions for every transaction they make on behalf of people by using the mobile app. This has been an effective tool used by fintech companies in a bid to tackle unemployment and financial inclusion

The Fintech industry is constantly recruiting. As a young and evolving industry, there will always be a need for growth and expansion, hence the need to constantly hire young people who can easily adapt to a dynamic and fast paced work environment.

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