Rwanda targeting 80% financial inclusion by 2017

Friday, December 20, 2013

In order to achieve the country’s economic transformation and poverty reduction, Rwanda has set its goal on increasing financial inclusion to 80 percent by 2017, through deepening and broadening the financial literacy of Rwandans.

This will be attained through the second Financial Sector Development Program (FSDP II), a five year program that seeks to develop a stable, sound and efficient financial sector.

The program will also include a National Financial Education Strategy (NFES) that will be integrated into the school curriculum and rolled out in communities to equip Rwandans with the knowledge, skills and belief to make and exercise informed, confident and timely money management decisions

“The purpose of financial education is to improve the financial capabilities of individuals so that they can make appropriate financial decisions, including what financial services they use, depending on their context or enabling environment,” Eric Rwigamba, the Director General of Financial Sector Development services (FSDS) said.

Source: Rwanda Eye (link opens in a new window)

financial inclusion, poverty alleviation