Sweden and Access to Finance Rwanda (AFR) reaffirmed their dedication to advancing financial inclusion in Rwanda, with a strong focus on digital financial solutions. The commitment was underscored during a recent field visit in Cyuve sector, Musanze District, where representatives from the Swedish Embassy in Kigali, AFR, and MoneyPhone Africa engaged with local farmers currently benefiting from AFR-supported projects.
Transforming farming through digitally accessible loans
During the visit, delegations observed firsthand how members of Twizamure Cyuve Cooperative, who primarily grow Irish potatoes and other crops, are leveraging digital financial solutions to expand their agricultural ventures.
This is thanks to an innovative digital lending platform introduced by MoneyPhone Africa with AFR’s support. The platform enables farmers to access collateral-free loans via mobile phones.
Therese Uwamahoro, chairperson of the 331-member cooperative, with 121 women and 52 young people, highlighted the significant impact that loans received from MoneyPhone have had on their farming activities and livelihoods.
Representatives from the Swedish Embassy in Kigali, AFR, and MoneyPhone Africa pose for a photo after a guided tour of a firm
Uwamahoro explained that before accessing digital loans, many cooperative members struggled to afford essential farming inputs such as quality seeds, fertilisers, irrigation tools, and land leasing.
“Now, with just a phone, our members can get the capital they need to invest in their farms. It’s changing lives—especially for women and youth who previously had no access to formal credit,” she said, adding that the cooperative serves as a guarantor for farmers, making access to credit easier.
Over the past six months alone, more than 120 farmers have secured loans totalling Rwf 96 million, helping them invest in seeds, expand their farmland, and enhance productivity.
Speaking during the visit, Dag Sjöögren, Ambassador of Sweden to Rwanda, reiterated his country’s commitment to strengthening financial inclusion, particularly for smallholder farmers.
“We appreciate AFR and MoneyPhone for facilitating financial access for cooperatives like this. Sweden remains dedicated to digitalising financial services and will continue partnering with AFR to promote digital financial solutions,” he said.
The ambassador also highlighted Ericsson’s important contributions to Rwanda’s digital transformation journey.
Through AFR, Sweden has played a pivotal role in supporting key financial inclusion initiatives in Rwanda, including the “Ejo Heza” long-term saving scheme, the National Agriculture Insurance Scheme (NAIS), dubbed in Kinyarwanda “Tekana Urishingiwe Muhinzi Mworozi”, and the National Digital Payment System (e-Kash) — all of which aim to deepen access and usage of financial services for underserved communities.
Deepening financial resilience for farmers
AFR’s Chief Executive Officer, Jean Bosco Iyacu, emphasised the far-reaching impact of partnerships between AFR and the Swedish government in transforming people’s lives.
“Thanks to these collaborations, financial services are now more accessible than ever. We commend MoneyPhone for introducing digital loan services, which have even been adopted by older farmers. AFR remains committed to expanding and improving financial services for all,” he stated.
Beyond finance: Ensuring market access for farmers
While access to financial services boosts productivity, fair market access is equally crucial. Farmers under the Twizamure Cyuve Cooperative supply a portion of their Irish potato produce to Hollanda Fairfoods, a company that transforms locally sourced potatoes into Winnaz crisps.
Beyond purchasing their produce, Hollanda Fairfoods provides farmers with agronomic support and training in best farming practices to enhance their yield and quality. AFR is further providing technical assistance to Hollanda Fairfoods to enhance efficiency, innovation and diversification to enable its business growth, which will contribute to the generation of more dignified and fulfilling jobs for young Rwandans.
The collaboration between Sweden and AFR started in 2016, and is proving to be a game-changer for smallholder farmers and other businesses in productive sectors that are benefiting from a wide range of projects and programmes supported by AFR. These include the “Terimbere MSMEs Support Facility”, designed to strengthen the MSME support ecosystem to catalyse MSME financing, business growth, profitability, resilience, and decent jobs creation with a strong emphasis on women and youth.
Dag Sjöögren, Ambassador of Sweden to Rwanda
Beneficiaries during the meeting with visitors
