BK Foundation, iDebate Rwanda award top student innovators in 3rd cohort of Money Makeover Challenge

Over 10 days, students worked in teams to solve a financial case study, with two groups making it to the finals and pitching their solutions to a panel of judges. The winning team received Rwf 600,000, while the runners-up were awarded Rwf 300,000, invested in the AGUKA Unit Trust Fund, a fund managed by BK Capital. ALSO READ: FEATURED: BK Foundation, iDebate Rwanda celebrate young financial innovators in 3rd Cohort of Money Makeover Challenge The grand finale was held at Kigali Christian School as part of iDebate Rwanda’s 10th Dreamers Academy Camp, which brought together over 400 students from schools in Rwanda. During the camp, participants learned about debate, public speaking, and critical thinking skills during the day, while evenings were reserved for skill-based courses, including the mandatory financial literacy programme, of which the Money Makeover Challenge was a part. The challenge, sponsored by BK Foundation, the philanthropic arm of BK Group, equips students with practical skills in saving, budgeting, investing, and responsible spending. Regis Iyumva, BK Foundation’s Capacity Development Specialist, explained that putting money in AGUKA instead of giving cash prizes is a way to help students save and accumulate income over time, while strategising on how to invest in the future. “We teach the students that once you save money, it should make you more money. Therefore, the money awarded to the winners will go straight to BK Capital,” he said. “There, it will generate income, potentially until the students are ready to invest in other businesses.” He emphasised BK Foundation’s commitment to supporting financial literacy, especially for young people, and underlined their long-standing partnership with iDebate. The iDebate camp brings together students from different backgrounds and communities, ensuring inclusivity that makes the programme more impactful, Iyumva added. The case study for the Money Makeover Challenge followed the fictional story of “Regine,” a high school graduate facing a debt of Rwf 150,000 from overspending on parties, online shopping, and loans from friends and digital platforms. Students, acting as Regine’s financial advisors, had to create a realistic monthly budget on her Rwf 300,000 income, ensuring she could pay off her debt, save, invest, and buy a computer within a year while preparing for college. “We believe financial literacy should begin at a young age. Through our partnership with iDebate, more students are leaving high school with these essential skills,” Iyumva said. “We encourage them to share their knowledge to close the financial literacy gap for future generations.” Aside from prizes and grants, BK Foundation also offers training to iDebate camp facilitators and trainers on financial literacy before they pass these skills on to the students. This initiative reflects BK Foundation and iDebate Rwanda’s shared commitment to empowering Rwanda’s youth with financial literacy and life skills that extend far beyond the classroom. Ketsia Keza, iDebate Rwanda’s Project Coordinator, commended BK Foundation for supporting both the Money Makeover Challenge and the financial literacy course. “Here, they don’t learn financial literacy just to pass an exam; they learn through real-life examples they can relate to. Throughout the process, students’ perspectives on money change, and they understand different ways they can use it,” Keza said. She added that, beyond skills, students also gain confidence and a greater sense of responsibility in managing their finances. For Garnon Mbimbura Niyongira, a Senior Six student in Math, Chemistry, and Biology at Petit Séminaire Saint Vincent de Paul and one of the winners the moment was “an immense happiness and a proud moment for me and my family.” His team proposed two low-capital, income-generating activities for Regine: pig rearing and selling bracelets to her former school. “As a fresh high school graduate, we tried to ensure that our project was not very capital-intensive yet was money-making to tackle our case study,” Niyongira said. “Money Makeover Challenge opened our minds to practical examples on how to manage money beyond classroom theory, and I’m confident we will be able to apply those skills.” Speaking on behalf of the second-place team, Laurick Manzi, a Senior Six student in Math, Physics, and Computer Science at Institut de Formation Apostolique de Kimihurura (IFAK), noted that despite finishing second, they were pleased with the results and would return next year to win. He emphasised that the challenge improved their confidence, public speaking, and self-esteem. “This programme improved our research capabilities and skills, as well as developing social skills,” Manzi said. As the philanthropic arm of BK Group, BK Foundation continues to invest in initiatives that empower communities through education, financial literacy, environmental sustainability, and social development. By equipping the next generation with essential life skills, BK Foundation remains committed to building a financially savvy, self-reliant, and empowered Rwanda.

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BK Foundation, iDebate Rwanda award top student innovators in 3rd cohort of Money Makeover Challenge