VISION 2020 outlines the plan to raise the people of Rwanda out of poverty and transform the country into a middle-income economy by the year 2020. Since 1994, the Government of Rwanda has stabilised the political situation, putting the economy back on track with considerable assistance from development partners.The Vision 2020 aspires a per capita income of 1,240 USD, up from the initial target of 900 USD per year. In 2000, per capita income stood at 290 USD. An annual growth rate of at least 7 per cent per annum is required. The Vision further states that Rwanda needs to transform from a subsistence agriculture economy to a knowledge-based society, with high levels of savings and private investment, thereby reducing the country’s dependence on external aid.Economics is abounding with assumptions but I am putting out a theory of how we can supplement the Government’s efforts to achieve Vision 2020 faster.My theory begins with the assumption that the current population of Rwanda is close to 12 million. Assuming that four million of the 12 million consist of children and the very poor who are dependants and we keep them out of the theory, we remain with a population of 8 million to mobilise resources which can go a long way in supplementing Government and Donor money in fast tracking our Vision.Again assuming the 8 million Rwandans each saved only two point two Francs (Rwf 2.2) a day, in a month of 30 days they would each have six hundred and fifty Francs (Rwf650). If these resources were mobilised and pooled together in one account through the District Development Boards, the 8 million Rwandans would, between them, have Rwf5.2 billion in a month. In a year, they would together own Rwf62.4 billion Francs just for a paltry saving of two point two franc coins (2.2 Francs) a day for a month.A saving of six hundred and fifty Francs (Rwf650) a month would hardly mean much to the majority of Rwandans (Children inclusive because this means sacrificing only two bottles of soda in a month) but put together it would do miracles in fast tracking their aspirations without anyone feeling a pinch.Rwanda currently has 30 districts and assuming that these savings are shared equally to the districts, each would have Rwf2.08 billion per annum. This means that in five years each district would have received Rwf10.4 billion. In total, from monthly savings of six hundred and fifty francs (Rwf650), in five years, 8 million Rwandans would have saved Rwf312 billion. 2020 is eight years from now but I worked on five years. The savings for eight years would amount to Rwf832 billion. These savings can be used in the districts to supplement Government budgets in the areas of infrastructure, energy, water, agriculture, telecommunication and transport, health and education. The mere fact that there is assurance of a monthly receipt of these funds can make the banks offer loans to the districts to support the programmes. Of course organisation of the collection of the savings is of the essence but this could be worked out by the implementers. In any case, the development programmes already exist in the districts and the line ministries have their sector priorities in the different districts.The theory goes on, for fast tracking of the Vision to be faster, some of the Three Kigali Districts’ residents could save double a month since it would only be one thousand three hundred Francs a month (Rwf1, 300). This should also apply to those residing out of Kigali City who are currently or have in the past benefitted from Government programmes like education scholarship over and beyond basic employment, medical insurance, transport, housing, Gir’inka and so.Again, the identification of those who fall in this category would be up to the implementers. It would not be difficult. The reason why the theory segregates in levels of savings is that, primarily, all the people who fall in this category can afford it. Secondly, they would ploughing back (read investing) in their society. Thirdly, they are the driving force of Vision 2020. This does limit those who want to save more than 1,300 Francs a month. For a saving of one thousand three hundred Francs (Rwf1, 300) a month, in five years each would have invested seventy eight thousand Francs (Rwf78, 000) for fast tracking Vision 2020.
