Rwanda’s government, financial institutions, and development partners have renewed commitments to widen access to finance for rural young women entrepreneurs, arguing that the country’s economic transformation depends on closing persistent gaps in financial inclusion.
The pledges followed a Mastercard Foundation Young Africa Works Dialogue in Kigali this week, where policymakers, financial actors, and youth delegates discussed structural barriers that continue to hinder enterprise growth among young women outside urban centres, despite Rwanda achieving one of the highest overall financial inclusion rates on the continent.
Official estimates place national financial inclusion at 96 percent. But speakers noted that the headline number masks ongoing constraints such as requirements for collateral, short loan tenors, and product designs that do not align with the realities of rural businesses. Participants called for coordinated national action to deliver fairer, more flexible, and more accessible financial services.
Calls for Trust in Youth Borrowers
Dr. Abdallah Utumatwishima, Minister of Youth and Arts, said Rwandan young people were already proving their economic value and deserved a financial system that trusts their track record. “Access to finance begins with belief,” he told delegates. “Young people are already earning, upskilling, and honouring their commitments. The financial sector must meet them with trust. We believe in them — and they are ready.”He also insisted that young women — particularly those in rural areas, those with disabilities, and young refugees — must shape the policies designed to serve them. He described youth as contributors to policy design, partners in implementation, and leaders in innovation.
Young women entrepreneurs from across the country played a prominent role in the Dialogue, offering first-hand accounts of the financing hurdles they face and how those obstacles limit productivity and earnings. Their input was cited repeatedly as critical to ensuring that new measures reflect reality rather than assumptions.
Entrepreneurs Urge Collateral-Free Loans
Among those who shared their experiences was Kayonza district agripreneur Ruth Tuyirungire, who produces animal feeds. She said young women were determined to expand their operations but urgently required practical support from the financial sector.“What we urgently need is access to collateral-free financing and support for our operating costs,” she said. She argued that a grace period of at least six months would allow reinvestment into the business before repayments begin — ensuring loans are repaid from profits instead of the initial capital. “That is what will set us up for success,” she added.
Discussions throughout the day centered on the need for lending products tailored to the unique conditions of rural enterprise: seasonal revenue cycles, limited collateral, and higher input costs. Stakeholders also acknowledged that banks often perceive young women’s ventures as high-risk, keeping many locked out of affordable credit.
Bridging the Gap Between Intentions and Impact
Ivan Ntwali, Country Director of the Mastercard Foundation in Rwanda, said the Dialogue created space to connect institutional commitments with lived realities.“We begin a conversation that sits at the intersection of three forces: the social norms and biases that influence how young women are perceived within financial systems; the design of financial products — what exists, what is missing, and what must be reimagined; and the policies and regulations that… can unlock real opportunities,” he said.
Several participating organizations signaled plans to expand youth- and women-responsive financing. Proposed solutions include collateral-light lending, improved risk-sharing mechanisms, enhanced data-sharing to shape more responsive credit scoring, and financial outreach designed to reach young people in their communities.
Aligning these efforts with national policy frameworks remains a priority. Stakeholders said progress will depend on collaboration rather than isolated efforts. Nick Barigye, Deputy Governor of the National Bank of Rwanda, underscored the role of financial literacy in empowering the next generation of borrowers. “Knowledge is the foundation of confident borrowing, responsible investing, and long-term financial empowerment,” he said, urging institutions to continue strengthening awareness programmes among youth.
The Mastercard Foundation emphasized that removing systemic barriers faced by rural women is not only socially beneficial but also scalable and financially sound. “When we work together to dismantle the systemic barriers limiting young women’s access to opportunities, we create pathways that are not only impactful — but scalable and sustainable,” said Sconaid McGeachin, the organization’s Chief of Public Affairs.
Hope for Follow-Through
For Huye-based entrepreneur Umuhoza Hyacentha, the commitments announced were encouraging — but she stressed the need for delivery. “Valuable ideas have been shared at such forums, and ensuring they are followed through will make all the difference for women like us,” she said.
The Dialogue closed with a pledge to track progress and sustain momentum, signaling that achieving inclusive finance for rural young women is now a firmly established national priority. All actors reiterated that the economic ambitions Rwanda has set for the years ahead will only be met if rural women — who drive much of the country’s grassroots enterprise — are equipped with the financial tools to thrive.
Background
The Mastercard Foundation, one of the world’s largest charitable foundations, focuses on expanding financial inclusion and education to support access to dignified work among young people in Africa and Indigenous youth in Canada. It operates offices across Africa, including Kigali.
Its Young Africa Works strategy aims to enable 30 million young Africans — especially young women — to secure fulfilling work by 2030. In Rwanda, where the strategy launched in 2018, the goal is to support 300,000 youth into employment through interventions in enterprise development, agrifood systems, tourism-driven opportunities, education, digital participation, and broader systems transformation. More than 149,000 young people have already been supported into work, and over 2.3 million have received tools and services designed to help them build livelihoods.
