• 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

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.

angle-left CARE INTERNATIONAL RWANDA

CARE INTERNATIONAL RWANDA

About CARE INTERNATIONAL

 

Founded in 1945, CARE is a leading humanitarian organization fighting global poverty and providing lifesaving assistance in emergencies. In Rwanda, CARE has over 35 years of experience supporting women and girls in rural communities, while working with the Government to effect lasting change, and strengthening civil society for localized impact.

Enrollment procedure 

To benefit from the CARE financial literacy programme, an applicant has to be a good VSLA member.

 links to e-Learning resources 

 

A training module on financial literacy and entrepreneurship

Services beneficial to women entrepreneurs 

Women in the VSL are linked to negotiated products and services from formal financial institutions.

Events organized 

 

The same as previous.

Contacts

P.O. Box 550, KN8 Ave, Plot 720, Kigali City
Telephone: +250788306241/+250788304454
Website: www.care.org.rw;
twitter: @careinrwanda

 

  

       

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