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AFR LEAD Series: Dissemination of the Finscope 2020 Gender Thematic Report
In regards to Gender and Access to Finance in Rwanda, the financial inclusion and accessibility to financial services especially for women have been driven by policy and legal frameworks including VISION 2020/2050, NST1, and the national gender policy 2010, the National Inclusion Financial Strategy (2019 – 2024 ); which all emphasizes the need to ensure an inclusive economy especially for the underserved population including women, by removing systemic barriers to the uptake of financial services. By analysing gender as one of the determinants of financial inclusion in Rwanda, The Finscope 2020 report indicates that the gender gap in financial inclusion has decreased from 4% in 2016 (90% of men and 76% of women) to 1% in 2020 (93% of men and 92% of women).
Although the report shows that financial inclusion among women in Rwanda is relatively high at 92%, there remain opportunities for further growth and improvement to narrow the gender gap especially in terms of deepening financial inclusion beyond the access and moving towards a greater level of formal inclusion (particularly with regard to the uptake of banking products or services.
AFR is a Rwandan not-for-profit organisation, with a strategic focus of stimulating financial sector development by collaborating with financial institutions and other stakeholders to increase access to and use of financial services by low-income people, AFR produced the Finscope 2020 Gender Thematic Report that summarises gender differences in the uptake/usage of financial products and services (both formal and informal), and as such contributes to documenting Rwanda’s development towards greater financial inclusion of women
Through its platform entitled LEAD Series, AFR intends to bring experts in the field to dialogue and transmit best practices and interventions that can drive and facilitate a diverse and gender-inclusive financial sector that delivers real value to the economy and people, including the most disadvantaged.
On the other hand, the Gender Monitoring Office as an institution mandated to oversee the implementation of gender equality principles across sectors for enhanced gender accountability and sustainable development.
In its key strategic objectives, knowledge delivery on gender equality and accountability remains its prime responsibility. Within this framework, Gender Monitoring Office serves as a national hub for information and data on gender equality and accountability.
In 2017, GMO produced a profile on gender and access to finance that intended to be used as a guide for policymakers, actors in the financial sector to celebrate and sustain the achievements reached and serve as an advocacy tool to further advance financial inclusion.
In this perspective and in its efforts to continuously avail gender-responsive data across the sector and financial sector particularly, GMO in collaboration with Access to Finance Rwanda finds it vital to disseminate gender data in the framework of the celebration of International Women’s Day.
In relation to the above and with the mandate of both institutions, AFR and GMO plan to conduct a webinar in the framework of celebrating the International Women’s Month (March)
This webinar will present findings of the Finscope 2020 Gender Thematic Report and will serve as an opportunity for stakeholders in Rwanda’s financial and women empowerment sectors to make recommendations in addition to reflecting on policies and interventions that affect women’s uptake of financial services in Rwanda.