It is called “financial inclusion”, and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
The Rwandan government has set a target of 90 percent financial inclusion by 2020 and the evidence of progress toward this goal is everywhere, according to World Bank research analyst Douglas Randall, who is “impressed by the financial inclusion landscape in this country.”
Advertisements for mobile-money products are painted and plastered onto almost every available surface in Rwanda. And, if you know what to look for, it does not take long to spot an Umurenge Savings and Credit Cooperative (Umurenge SACCO) – Rwanda’s signature financial inclusion initiative.