AB Bank Rwanda - Rwanda
- Rwanda
- Resources
- Capacity Building
- Financial Literacy
- Financial Literacy
Quick information guide
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 literacy in Rwanda
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
| About AB Bank Rwanda | |
| Areas covered
| 1. Introduction to Financial Education and Enterprise Development, 2. Personal and business financial management 3.Entrepreneurship Development 4. Records keeping 5. Business planning 6. Taxation 7. Saving 8. Loan management |
| Enrollment procedure and requirements | Must be a AB Bank Rwanda Client. |
| Links to e-Learning resources
| Not yet Online base training so far. Clients are only being organized in groups for training |
| Additional services beneficial to women entrepreneurs | Loans with affordable rates and business training |
| Contact details
| Nyarugenge Avenue Website: https://www.abbank.rw |