June 29, 2024

Rwanda FinScope 2024 report

This report provides valuable insights into our progress highlighting the importance of current strategies and initiatives in driving financial inclusion. Notably, Rwanda has achieved an impressive 96% financial inclusion rate, with formal inclusion at 92%, surpassing the NST1 target of 90% by 2024. 

The Rwanda FinScope 2024 findings show that though we are 4% points behind, the NST1 set target (100%), Rwanda is on the right path. There has been a substantial increase in formal financial inclusion (insurance, pension, and mobile money) since 2020, reducing the number of adults who are exclusively dependent on informal mechanisms to just 4% in 2024 from 16% in 2020. 

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