Promoting Financial Inclusion in Rwanda Project

Promoting Financial Inclusion in Rwanda Project

Building POWER in Rwanda

Overview:

CARE International's POWER Africa Program: Promoting Opportunities for Women's Economic Empowerment in Rural Africa Program aims to increase financial inclusion in Burundi, Ivory Coast, Ethiopia, and Rwanda through Village Savings and Loan Associations (VSLA), creating a platform for sharing lessons learned within and between the 4 target countries. 

As a part of this program initiative, CARE Rwanda has created the Promoting Financial Inclusion in Rwanda (PROFIR) Project. Building on previously established VSLAs in the 4 provinces of Rwanda, this project helps VSLAs with little to no access to formal financial institutions be able to reach these financial institutions with complete ease.

Purpose:

To reach its target scale, CARE Rwanda will partner with local NGOs in each country since they can cost-effectively reach a large number of excluded households. CARE Rwandan will partner with a number of FSPs in Rwanda to develop tailored products to meet the financial needs of VSLA groups and their members. Finally, in order to effectively deliver these products to VSLAs, CARE Rwanda and our FSP partners will work with mobile network operators (MNOs) to adapt existing technology solutions to allow VSLA groups to access their accounts via mobile devices. All of these partnerships will be designed to provide VSLAs and their members with the right product, at the appropriate time and for a reasonable cost.

Documentation: 

For further information, please see the attached document of PROFIR's executive summary. For similar projects that can give a wider aspect of this project, please see the FINAG project. 

 

Project Achievements

At this stage in the project implementation, there has not been any assessment of the project's achievements. However, the project continues to expand and the scale-up process is continuing to progress.

Project downloads

Project Info

  • Start Date: 2013 January
  • Donor: MasterCard Foundation
  • Program: Vulnerable Women Program
  • District: Bugesera, Gakenke, Gatsibo, Gicumbi, Gisagara, Huye, Kamonyi, Kirehe, Muhanga, Musanze , Ngoma, Nyabihu, Nyagatare, Nyamasheke, Rubavu, Ruhango, Rulindo , Rwamagana
  • Number of beneficiaries: 300,000
  • Partners: Rwandan FSPs

Models

Models used:

  • VSL Models