A country on the rise
Small and landlocked Rwanda, with just 11 million inhabitants, has shown significant growth figures. For instance, GDP has grown on average 8% p.a. the last 15 years.
Rwanda also holds one of the peak positions among African nations when it comes to financial inclusion. The formal inclusion was 68% in 2016, and including informal financial access, the inclusion should increase to about 90%. Yet, there is still a big potential both to reach the stated governmental goal of 100% financial inclusion, and to improve the financial services to people on the bottom of the pyramid.
Hence, NMI recently conducted a fact finding mission to Rwanda, meeting microfinance institutions, banks and authorities. The message was clear; increased inflow of funding for the microfinance sector is necessary to keep the momentum on rising financial inclusion.
Investment Director Christian B. Ramm and Investment Manager Godfrey Kaindoh