FEATURED: BK Foundation, iDebate Rwanda celebrate young financial innovators in 3rd Cohort of Money Makeover Challenge

On May 30, 2025, BK Foundation, in partnership with iDebate Rwanda, hosted the national finale of the third cohort of the Money Makeover Challenge, awarded students from two best-performing schools for their innovative financial literacy projects as part of the third cohort of the Money Makeover Challenge. Money Makeover Challenge is a hands-on financial literacy competition designed to empower participants with practical skills for managing personal finances effectively. The grande finale brought together 10 schools from different parts of the country including GS Gikomero, St Bernadette Kamonyi, Lycée St Marcel Rukara, Essa Nyarugunga, GS Gatenga, Lycée Notre Dame de Citéaux, Riviera High school, Kagarama Secondary School, and Institut de Formation Apostolique de Kimihurura (IFAK). By fostering creativity, critical-thinking, and entrepreneurship, the programme aims to strengthen students’ financial management skills needed to navigate today’s complex financial landscape. The 10 schools, each with three teammates, presented their projects, showcasing their ability to address financial problems while demonstrating the power of financial literacy in shaping the leaders of tomorrow. Kagarama Secondary School won the 3rd Money Makeover Challenge, taking home Rwf 900,000 while IFAK came second place and earned Rwf450,000. Pascal Nkurunziza, Programs Manager of BK Foundation, said that it is important that young students are exposed to the knowledge of financial management, saving, and investment at a young age so that they can build the skills that they will need as they grow to become entrepreneurs and leaders in different fields. “We’re building a strong generation for a strong future. Think ahead about how will you use the Financial Literacy Skills gained and seed capital received as an award and start early. Don’t focus on fear failures but focus on your confidence to succeed.” Nkurunziza added that the prize money they give to winners should serve as seed capital to realise their projects while putting into practice what they learn at a young age. Joel Manzi, a Senior Five student at Kagarama Secondary School, and the winner of the challenge, said that the competition was interesting and intense which allowed the team to put more effort into research and preparations. “I got to learn a lot of things. I didn’t know how to invest in stocks and bonds, and other financial instruments on the market. We did a financial makeover for someone else but right now, I feel capable of making my own financial makeover.” Elouine Ineza, a student at IFAK who also participated in the competition and emerged as the second winner, said that it was enlightening to be a part of bright students who were contesting with innovative ideas. “Such competitions are important to enable us to practice the theoretical lessons we study in different entrepreneurship and economic courses. Personally, I am going to learn more about the stock market in Rwanda and investment in general.” Ketsia Keza, the founder of the Money Makeover Challenge, said that each cohort has a distinguished idea that seeks to enable the students to be innovative, challenge themselves, and learn practical lessons in addition to what they acquire in schools. According to her, it is still a challenge in some schools to understand the importance of this programme in terms of equipping the students with financial skills based on real-life situations they get to work on as projects. “Every cohort has its own specialty that allows the students to interact with financial products. The first cohort opened bank accounts, the second opened investment account in Aguka Trust Fund, and the third cohort is now exposed to the Rwanda Stock Exchange market.” Instead of simply giving the prize money to the winners, it will be invested through AGUKA, a fund managed by BK Capital, in order to teach the students the importance of saving and investing, ensuring that they understand the long-term value of financial decision-making beyond the immediate reward. By integrating training, experiential learning, and youth-focused investing, BK Foundation continues to invest in the future of Rwanda’s young people.

News

FEATURED: BK Foundation, iDebate Rwanda celebrate young financial innovators in 3rd Cohort of Money Makeover Challenge