As the country strives toward becoming an upper-middle-income country, one value must take root across every household and community, the culture of saving. Saving is not just a personal virtue; it is a national imperative. It fuels investment, drives productivity, and strengthens resilience against economic shocks. During the launch of the National Saving Mobilisation Week and International Saving Day last week in Gicumbi District, officials from the Ministry of Finance and Economic Planning once again reminded citizens of this truth. ALSO READ: Inside Rwanda’s five-year strategy to double savings rate Rwanda’s savings rate stands at 14.4 percent of GDP, a respectable figure, but still far from the national goal of 25.9 percent by 2029. Bridging this gap will require collective commitment from government institutions to households in both rural and urban areas. As highlighted by Cyrille Hategekimana, a senior official in the ministry, saving should not be viewed as what remains after spending, but rather as the first step in managing one’s income. This mindset shift is crucial. When individuals save, they create personal financial security; when millions of citizens save, they create a pool of resources that banks and cooperatives can channel into investments, infrastructure, and job creation. In other words, personal savings become the backbone of national development. ALSO READ: You don't need plenty to embrace the culture of saving The progress seen in places like Gicumbi, where residents have collectively saved over Rwf2.3 billion through the Ejo Heza scheme, shows what is possible. Success stories like that of Marie Chantal Kamali, who used her late father’s modest savings to uplift her family demonstrate that saving, however small, can transform lives. Rwanda’s remarkable achievements in infrastructure, healthcare, and education have all been underpinned by prudent financial planning and domestic resource mobilisation. Yet, for these gains to be sustained, every citizen must see themselves as a stakeholder in the nation’s economic journey. Saving is not for the rich; it is for anyone with a vision for tomorrow. The culture of saving builds dignity, stability, and confidence for individuals, families, and the country at large. A nation that saves is a nation that grows. In Rwanda’s march toward prosperity, every saved franc counts.
