Pilot project aims to give 100,000 refugees in Rwanda access to financial services through mobile phones
Rwanda, August 25, 2020 – Rwanda has been hosting refugees for the last 20 years and the total refugee population is estimated to stand at about 150,000 as at December 2019.
Research shows that increasing access to financial services can allow low-income households, including refugees, to build assets, mitigate shocks and contribute to the local economy. However, despite the benefits that arise when refugees can access financial services, issues such as documentation challenges, access to seed capital and lack of tailored products, hampers the uptake of financial services.
In partnership with Equity Bank Rwanda, today we have launched a pilot project that aims to provide almost 100,000 refugees in Rwanda access to savings, loans, remittances and insurance services through their mobile phones.