On December 12, as community leaders, farmers, cooperatives and partners including Opportunity International Agriculture Finance, gathered in Huye District for the launch of the Equity Ikimina Account, the occasion carried more than the unveiling of a new financial product. It was a moment shaped by memory, purpose and continuity. Standing before the audience, Equity Bank Rwanda Plc Managing Director, Hannington Namara, did more than introduce a banking solution. He traced a story that began far from boardrooms and balance sheets, rooted instead in the everyday struggles of ordinary people. Equity Bank’s journey, he reminded participants, dates back to rural Kenya in the early 1980s, in Nakuru and Naivasha in the Rift Valley. “It was a time when tea farmers travelled hundreds of kilometres to Nairobi carrying tokens that represented their earnings,” Namara said. “Families waited anxiously for children returning during school holidays to travel and bring home their hard-earned cash.” Formal banking services were distant and largely inaccessible. It was within that gap that Equity was born, first as a modest SACCO, shaped by communities determined to take control of their financial lives. “People trusted it because it understood them,” Namara said. “It grew because it listened.” That founding philosophy continues to shape Equity Bank Rwanda today. “At Equity, we are not just dealing with customers,” he said. “We are working with members. Development is not an individual journey; it is collective. That is why financial inclusion must start from where people are, using the language they understand and solutions they trust.” This belief has informed Equity’s dual model: a strong commercial banking arm working alongside its social impact engine, the Equity Group Foundation. While the bank focuses on growth and investment, the foundation works to dismantle barriers that limit progress, whether they stem from limited financial knowledge, restricted access, lack of confidence or missed opportunity. Equity does not act alone. It collaborates closely with government institutions, development partners and organisations such as Opportunity International, aligning its interventions with national priorities including Vision 2050 and the National Strategy for Transformation (NST2). Today, Equity Bank Rwanda is the country’s second-largest bank, serving more than 1.7 million members. Yet its ambition stretches further. “Our goal is to see at least five million Rwandans gain meaningful access to financial services in the coming years,” Namara said. “When people gain access to finance, they gain the chance to transform their households and their futures.” The launch of the Equity Ikimina Account is a clear expression of that ambition. Rwanda has a deeply rooted culture of collective saving through Ibimina, village savings and loan associations (VSLAs), cooperatives and community groups. For decades, these informal systems have supported households and livelihoods, but many operate without secure storage, proper record-keeping or access to affordable credit. The Ikimina Account bridges that gap by bringing traditional savings practices into a formal, transparent and rewarding framework, guided by the philosophy “Zigama, Unguka, Terimbere”—Save, Earn, Grow. Through this solution, groups can save securely and earn competitive interest of up to 7% per annum, access affordable loans using up to 30% of their savings as collateral, enjoy unlimited withdrawals, and benefit from no maintenance fees or minimum balance requirements. They also receive continuous financial literacy training. It transforms trust-based saving into a structured pathway for growth, without eroding the communal spirit that defines it. “Collective savings are more than just money,” Namara said. “They are a vehicle for empowerment, progress and long-term prosperity.” For Immaculée Niyodusaba, a 38-year-old farmer from Ndora Sector in Gisagara District, the impact is already visible. As a member of a 21-person group, she sees the Ikimina Account as a bridge from survival to sustainability. “We are preparing to take a loan to expand our maize, fruit and vegetable farming,” she said. “We cultivate together, but we also farm individually. With Equity, I believe I can achieve sustainable development, move out of poverty, feed my family and supply markets.” Such stories sit at the heart of Equity’s people-centred approach. For groups interested in opening an Equity Ikimina Account, visit your nearest Equity Bank branch or contact customer service at 4555 or ( 250) 788 190 000. Women and youth, who often face the greatest barriers to finance, are deliberately prioritised. Loan products are designed around agricultural cycles, with repayment schedules aligned to harvest seasons rather than rigid monthly timelines. Insurance solutions for crops and livestock help cushion farmers against climate shocks, while digital platforms enable members to access services via mobile phones, even in remote areas. Loyce K. Bamwine, Director of Social Impact Investments at Equity Bank Rwanda, describes this as intentional inclusion. “Our focus is on improving livelihoods,” she said. “Smallholder farmers, women, youth, people with disabilities and even refugees in camps are part of our vision. Through agribusiness, partnerships and capacity building, we are ensuring that no one is left behind.” Capacity building is central to the Ikimina product. Groups receive training in financial literacy, record-keeping and business planning, ensuring that access to finance is matched with the skills required to use it effectively. Equity agents are embedded in communities to support farmers directly, while cooperatives receive guidance tailored to their specific needs. “Banking, in this sense, becomes a shared learning journey,” Bamwine added. In Muganza Sector, Gisagara District, Antoine Ntigura, leader of the EjoHeza group, has seen the transformation first-hand. His cooperative, which focuses on rice and maize farming, operates entirely through mobile-linked accounts. “Even in the village, Equity agents help us open accounts, access cash and receive advice,” he said. “We save every Saturday, and the money goes directly into the account. When we need support, Equity explains everything clearly and without unnecessary delays.” After successfully managing an initial loan, the group has secured additional financing and plans to scale up production. “With honesty and unity, everything is possible at Equity,” Ntigura said, noting that insurance coverage is now part of their growth strategy. Development partners echo this view. Desire Mugisha from Opportunity International highlighted the importance of pairing capital with knowledge. “Farmers are ready to work,” he said. “When you provide skills and capital together, they move forward. Through training, community champions and strong group governance, we are seeing farmers build resilience, adapt to climate change and create sustainable livelihoods.” Private sector leaders in Huye District have also taken note. Businessman Gervais Butera Bagabe observed that Equity has earned trust by bringing services closer to people and speeding up loan processing. “Money delayed is an opportunity lost,” he said. “Equity has changed that equation.” Challenges remain, particularly around interest rates, but Equity’s leadership is open about the road ahead. Namara acknowledged ongoing discussions with the National Bank of Rwanda and expressed optimism that as savings volumes grow and technology advances, interest rates will continue to decline. Already, digital loans worth more than one billion Rwandan francs are disbursed daily, signalling a future where cooperatives can transact and grow seamlessly online. At its core, the Equity Ikimina Account is more than a financial product. It is a reaffirmation of values: unity, honesty, mutual support and shared progress. It reflects a belief that when people save together and grow together, they build not only wealth, but dignity and resilience. From the tea farms of the Rift Valley to rural Rwanda, Equity Bank’s story serves as a reminder that genuine development begins with people—and that no one rises alone.
