Introduction:
Rwanda’s financial sector has reached a milestone few markets can claim. Access is nearly universal (96% of adults are formally included, and digital financial services usage has surged from 30% in 2020 to 73% in 2024) yet a 2022 sector assessment found that financial institutions were at very different stages of the data maturity journey, with most still having limited data infrastructure and no data strategy. This gap carries a double cost, specifically, existing clients are not graduated to the fuller suite of products their needs justify, and new products targeted at underserved groups are never designed. These are two important routes by which access becomes meaningful usage. Between 2022 and March 2026, five market institutions set out to change that, supported by Access to Finance Rwanda (AFR).
About AFR’s support
Access to Finance Rwanda (AFR) works to make Rwanda’s financial system more inclusive by tackling the market constraints that keep financial services from reaching and benefiting the underserved, specifically women, youth, and micro-enterprises. Under its Strengthening Data Analytics Capacity in Rwanda’s Financial Ecosystem project (2022–March 2026).
AFR provided catalytic grants and hands-on technical coaching to five market institutions, including the central bank, a commercial bank and industry associations. Rather than one-off training, experts worked side-by-side with institutional teams to build data systems, skills and governance into daily operations, de-risking each institution’s first steps so it could take the investment forward itself.
