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Know basic financial capabilities

According to Rwanda National Financial Education Strategy, there are 3 elements basic elements of financial capabilities:

1. Day-to-day cash flow management, which include:

  • Making ends meet for both ordinary expenses and “lumpy,” large expenses
  • Keeping track of your cash flow and budgeting
  • Understanding the difference between necessary and unnecessary expenses; and
  • Avoiding unnecessary expenses

2. Planning for the future, which include:

  • Making contingencies, such as saving up or buying insurance, for future emergencies/
  • Developing a strategy for making such contingencies;

3. Financial services, which include:

  • choosing the right financial tool (savings, loan, insurance, or grant/gift) for the right occasion, and
  • choosing the right financial service provider of each of these choices available 
Financial Capabilities Survey (FinCap Survey, 2012) indicates that women’s financial capabilities do not differ significantly from that of men, women are not treated as a separate segment.

However, stakeholders state that gender should be considered as a cross-cutting issue in all segments (children, youth and adults), particularly with regards to how Financial Education(FE) programmes are reaching girls and women.

The aforementioned survey was conducted one year later, after that  the National Bank of Rwanda (BNR) has worked with Access to Finance Rwanda (AFR) and the Ministry of Finance and Economic Planning (MINECOFIN) in 2011, to develop a National Financial Education Strategy(NFES). The Ministry of Finance and Economic Planning (MINECOFIN) since then became the lead Government arm in the development of NFES, with active engagement from the BNR.

It is critical for women in business to understand basic financial concepts because it allows them to know how to navigate in the financial system. Financial literacy training would equip them with the knowledge, skills and belief in themselves to make and exercise informed, confident and timely money management decisions.

AB Bank Rwanda

builds capacity of clients in financial literacy, saving culture, business management, borrowing and debt management


provides financial literacy programme to women in VSLAs