HFC Bank (Ghana) Ltd. has launched the latest youth save product dubbed ‘HFC Enidaso Account’, designed for the youth between ages 12-18 years who are either in or out of school. The Enidaso Account is part of a Youthsave Project which is an initiative led by Save the Children in partnership with the Centre for Social Development, at the Washington University in St. Louis USA, aimed at promoting financial asset building in the youth.
“Start Tomorrow Today”, is the pay-off line for Enidaso Account. The account is aimed at inculcating the habit of savings into the youth by helping them save parts of their pocket money or money gifts to cater for their basic needs and educational expenses as well as other expectations.
Mr. Charles Ofori-Acquah, Executive Director of HFC Bank, in charge of Business Development said an extensive research carried out amongst the youth led to the design of the Enidaso account as a custodial account which affords the youth the opportunity to operate their own account under the supervision of a trusted adult.
“We believe that this product would not only encourage savings in the youth but also introduce the youth to the banking sector in preparation for adulthood”.
“Youth who are eighteen years of age however do not require a trusted adult to operate this account” Mr. Acquah added.
Hundreds of basic school children gathered at the launch ceremony where they were not only educated and counseled on basic financial literacy and the importance of the ‘Enidaso Account’ but also feted with an impressive entertainment of music, ‘azonto’ dance competition and snacks.