Kigali-based Reseau Interdiocesain de Microfinance (Rim), has emerged the winner of this year’s financial management awards, thanks to its exemplary financial discipline. Umutanhuha Finance was the first runners-up, while Kamonyi District’s Rukoma Umerenge Sacco, came third in the annual awards organised by the Association of Microfinance Institutions in Rwanda (AMIR).

Rim won a one year financial training package for staff, while the two other winners received a lap top each. The three were part of the 18 credit institutions that competed for the accolade in the finals. The awards were supported by the Savings Banks Foundation for International Cooperation (SBFIC), a Germany-based savings group.

Peter Rwema, the director general in charge of programmes at AMIR, said winners were selected basing on the sector’s financial objectives, service delivery, accountability and customer care, among others.

Rwema urged MFIs to embrace mobile cash technology to reduce the cost of transactions."We are encouraging MFIs to embrace information technology to reduce the cost of doing business,” he said.

Speaking at the awards ceremony on Tuesday, Eric Rwigamba, the Ministry of Finance director for financial sector development, urged credit institutions to innovate and adhere to best financial practices.

He urged MFIs to continue encouraging Rwandans, especially in the rural areas, to save and invest to get out of poverty.

Diana Uwimbabazi, the Rim managing director, said the recognition motivates MFIs and also promotes financial discipline. "The win is a challenge for us to do more and continue to exercise financial discipline,” Uwimbabazi told The New Times.