Government registers nearly 15,000 savings groups holding Rwf54 billion

By The Inspirer.

The Government of Rwanda has registered nearly 15,000 savings groups with combined assets of about Rwf54 billion, as part of efforts to improve their management and strengthen the protection of members’ savings.

Prime Minister Dr Justin Nsengiyumva announced the figures on October 2, 2026, while presenting the government’s achievements in developing the financial sector to Parliament.

He said savings groups play an important role in promoting a culture of saving, particularly among communities where access to formal financial services remains limited. However, some groups continue to face challenges, including mismanagement and fraud.

“The government continues to strengthen the management of savings groups to help them operate in a transparent and reliable manner,” Nsengiyumva said.

He added that nearly 15,000 savings groups had so far been registered to promote transparency, prevent fraud and protect people’s savings.

“These savings groups currently hold assets worth nearly Rwf54 billion,” the Prime Minister said.

Savings groups are widely used by Rwandans as a way of saving money and accessing small loans among members, particularly in areas where banking and other formal financial services have not yet reached a large proportion of the population.

The 2024 FinScope survey found that 92% of Rwandans had access to formal financial services. When informal saving mechanisms such as savings groups are included, financial inclusion rises to 96%.

The government says strengthening the management of savings groups is part of broader efforts to increase domestic savings and protect citizens from losses resulting from poor management or fraudulent practices.