Mr. Jackson Kwikiriza, Executive Director of the Association of Microfinance Institutions in Rwanda (AMIR), welcomed a delegation from Malawi’s finance sector for a five-day learning visit. The group, led by Mrs. Khumbo Mtalika from the Reserve Bank of Malawi, aims to study the structure and operations of Savings and Credit Cooperatives (SACCOs) in rural areas of Rwanda, focusing on the successful implementation and impact of these financial institutions.
The delegation included influential figures such as Mr. Limbikani Kachiwaya, Registrar of Cooperatives in Malawi’s Ministry of Industry and Trade; Mr. Daud Mtanthiko, Chief Examiner at the Reserve Bank; Mr. Ralph Tseka, Project Manager for the FinEs Project; and Mr. Fumbani Nyangulu, CEO of the Malawi Union of Savings and Credit Cooperatives (MUSCCO).
During their visit, the delegation seeks to achieve several objectives:
• Learn best practices and innovative strategies from Rwanda’s rural SACCOs through AMIR.
• Establish partnerships with key stakeholders in the Rwandan SACCO sector for ongoing collaboration and knowledge exchange.
• Gain a better understanding of the regulatory framework supporting rural SACCOs’ growth and sustainability in Rwanda.
• Explore the government’s role in fostering financial inclusion through these cooperatives.
Mr. Kwikiriza provided an overview of Rwanda’s microfinance sector, highlighting AMIR’s initiatives and the governmental support that have contributed to its stabilization over the years. He emphasized the importance of Umurenge SACCOs, which have greatly enhanced financial access in rural communities.
The Malawian delegation commended Rwanda’s efforts, pointing out that the government’s support has been crucial in fostering the growth and sustainability of SACCOs, ultimately enhancing financial services for underserved populations. They expressed a desire to replicate this successful model in Malawi.
The choice of Rwanda for this visit reflects their intent to learn how financial services can effectively reach rural areas and promote greater financial inclusion. The delegation will also visit several key sites, including the Kigali Genocide Memorial, the Ministry of Finance and Economic Planning, the National Bank of Rwanda, and various SACCOs, to deepen their understanding of Rwanda’s financial model.
This visit highlights the increasing international recognition of Rwanda’s microfinance sector, particularly its Umurenge SACCOs, as a successful model for advancing financial inclusion in rural regions.
