• 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 New Faces New Voices Rwanda

New Faces New Voices Rwanda

About New Faces New Voices

New Faces New Voices Rwanda (NFNV) is a member-based organization that works to enhance women and girls’ economic worth through access to finance, financial and business capabilities, and voice representation in the financial sector. 

Services provided by the program

 
  • Capacity building in basic financial literacy 
  • Facilitation of market linkages across the value chain

What is needed for a woman to register to the program?

For women to benefit from this program, they have to register through the NFNV website: www.nfnv.rw

Members are requested to register according to their clusters that structured into the following categories:

  • Low income rural based women;
  • Women in occupational cooperatives;
  • Women in micro informal businesses;
  • Young and emerging entrepreneurs;
  • Junior and mid-level professionals;
  • Senior professionals, and  
  • Established business women

Registered women are informed about upcoming training sessions organised by the programme.

 

 

Does program organize public events that benefit women?

N/A

 

Contacts 

 BRD Building at 2nd Floor
Name: Ida INGABIRE (contact person)
Website: http://www.nfnv.rw
Email: ida@nfnv.rw
Tel: 0788413222
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