CARE INTERNATIONAL 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.
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 |
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