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Rwanda

Financial Inclusion Up Close in Rwanda

Douglas Randall's picture

You don’t have to spend very long in Rwanda before you start to be impressed by the financial inclusion landscape in this country – not only by the progress made over the past several years, but by the scale of ambition for the rest of this decade and beyond.

The government has set a target of 90 percent financial inclusion by 2020 and the evidence of progress toward this goal is everywhere: Advertisements for mobile-money products are painted and plastered onto almost every available surface and, if you know what to look for, it doesn’t take long to spot an Umurenge Savings and Credit Cooperative (Umurenge SACCO) – Rwanda’s signature financial inclusion initiative.

Six years ago, the 2008 FinScope survey found that that 47 percent of Rwandan adults used some type of financial product or service, but just 21 percent were participating in the formal financial sector, which was at the time made up mostly of banks but which also included a handful of microfinance institutions and SACCOs.

Largely in response to these figures – and in particular to the large urban/rural divide illustrated by the data – and the government set out to establish a SACCO in each of the country’s 416 umurenges, or sectors. The Umurenge SACCO was born.

Scoring for Peace

Ravi Kumar's picture

A documentary shows the importance of sports in uniting conflict-affected communities

Bikomati, an athlete with a missing front tooth and a contagious smile, is a high school student in Bubanza, a city in northwestern Burundi

Ismael Bikomati in Scoring for Peace.

“When I joined the rebels, I was 12 years old. I went there because we didn’t have enough food at home,” says Ismael Bikomati in Scoring for Peace, a documentary seeking to spread the message of peace globally.

Bikomati, an athlete with a contagious smile, is a high school student in Bubanza, a city in northwestern Burundi. He is a midfielder for his team and the captain as well. He is one of a group of 500 players from Burundi, the Democratic Republic of Congo, Rwanda, and Uganda who competed in the Great Lakes Peace Cup. It was organized by the World Bank during the spring and summer of 2012 to help former combatants rebuild relationships with their communities.