Rwanda’s government, financial institutions, and development partners have reaffirmed their commitment to expanding inclusive finance for young rural women entrepreneurs, recognising that closing the financing gap is essential to sustaining the country’s economic transformation.

These commitments emerged from Mastercard Foundation’s Young Africa Works Dialogue – Rwanda Edition, held at the Mövenpick Hotel Kigali on November 27. It brought together policymakers, commercial banks, MFIs, SACCOs, fintechs, civil society, and rural women to identify practical solutions that accelerate access to dignified and fulfilling work.

Despite Rwanda achieving one of the highest financial inclusion rates on the continent at 96 per cent, many young women operating rural enterprises still struggle to access the kind of capital required to grow. Requirements for collateral, short loan tenors, high perceived risk, and financial products that do not reflect rural business realities continue to limit progress.

"Access to finance begins with belief” — Minister Utumatwishima

During the dialogue, Dr Abdallah Utumatwishima, Minister of Youth and Arts, emphasised that young people have already proven their potential:

"Access to finance begins with belief. Young people are already earning, upskilling, and honouring their commitments. The financial sector must meet them with trust. We believe in them — and they are ready.”

He stressed that youth — including young rural women, youth with disabilities, and displaced youth must be seen as co-designers of policy and catalysts of economic growth.

Reimagining financial products for women building Rwanda

Reflecting on the importance of this shift, Ivan Ntwali, Country Director, Mastercard Foundation Rwanda, said the dialogue helped bridge institutional commitments with lived experiences:

"Today, we begin a conversation that sits at the intersection of three forces: the social norms and biases that influence how young women are perceived within financial systems; the design of financial products — what exists, what is missing, and what must be reimagined; and the policies and regulations that, when implemented with intentionality and inclusivity, can unlock real opportunities.”

Financial institutions also outlined efforts to introduce collateral-light loan products, strengthen risk-sharing mechanisms, and expand youth-focused outreach and financial literacy.

Nick Barigye, Deputy Governor of the National Bank of Rwanda, reaffirmed the need for continued collaboration: "Knowledge is the foundation of confident borrowing, responsible investing, and long-term financial empowerment.”

Young women leading rural economic transformation

Women entrepreneurs from across Rwanda shared stories that grounded the Dialogue in real experience.

Ruth Tuyirungire, an animal feed entrepreneur from Kayonza District, called for accessible financing:

"We are determined to grow our businesses and we believe real progress is within reach. What we urgently need is access to collateral-free financing and support for our operating costs. A six-month grace period before repayment would allow us to reinvest and repay loans from profits — not initial capital. That is what will set us up for success.”

Hyacentha Umuhoza , an entrepreneur, said: "Our hope is that the deliberations and commitments made during this dialogue will translate into action. Ensuring follow-through will make all the difference for women like us.”

A shared commitment to action beyond the dialogue

The dialogue closed with a pledge from all participating actors to continue collaboration, track progress, and strengthen alignment with national strategies to ensure that inclusive finance contributes directly to Rwanda’s long-term economic ambitions.

As Sconaid McGeachin, Chief of Public Affairs at the Mastercard Foundation, emphasised:

"When we work together to dismantle the systemic barriers limiting young women’s access to opportunities, we create pathways that are not only impactful — but scalable and sustainable.”

The dialogue underscored a shared belief: Rwanda’s young rural women are not just beneficiaries — they are builders of the nation’s future economy.