The Association of Microfinance Institutions in Rwanda (AMIR), an umbrella organization for Rwandan microfinance institutions (MFIs) and related organizations, recently partnered with Child Savings International (referred to as Aflatoun), a Netherlands-based nonprofit, and the United Kingdom’s Department for International Development (UKDID) to launch an educational program in Rwanda that will teach entrepreneurial, savings and financial skills to youth. According to Jean Pierre Uwizeye, AMIR’s financial education projects officer, the new program will not only work with approximately 100 schools and train 500 teachers around the country, but also will allow participating students to open savings accounts with Rwandan MFIs to learn about business and finance in practice [1,2]. The program plans to offer financial education courses “in savings clubs at schools [and] during…extracurricular activities and weekends [1].” UKDID will provide a monetary grant of an unspecified amount in order to implement this program. Aflatoun, which has implemented entrepreneurial and financial curriculums for youth in 94 countries, will provide experience and logistical support for the program [2]. Additional information about the timeframe and execution of the program is unavailable.
As of July 2013, AMIR consists of 62 active members that serve poor and middle-class families throughout Rwanda. Aflatoun has operations in 94 countries as of January 2013, partnerships with approximately 8,400 schools and non-formal education centers as of December 2010 and has reached approximately 1.3 million children as of June 2012.
By Michael Averell, Research Associate
About the Association of Microfinance Institutions in Rwanda (AMIR)
The Association of Microfinance Institutions in Rwanda (AMIR) is an organization that was established in 2007 to build the capacity of the microfinance industry in Rwanda. As of July 2013, AMIR consists of 62 active members that serve poor and middle-class families throughout the country. The association is governed by a general assembly and board of directors from Rwandan microfinance institutions (MFIs). Membership to AMIR is open to all MFIs that have been registered by Rwanda’s central bank.
About Child Savings International (Aflatoun)
Established in 1991 in Mumbai, India, Child Savings International (referred to as Aflatoun) is a Netherlands-based nonprofit that aims to teach children in developing countries entrepreneurial, savings and financial skills. Aflatoun moved its headquarters from India to the Netherlands in 2005 and changed its named from Aflatoun to Child Savings International as a result; however, the nonprofit still refers to itself as “Aflatoun.” Aflatoun has operations in 94 countries as of January 2013, partnerships with approximately 8,400 schools and non-formal education centers as of December 2010 and has reached approximately 1.3 million children as of June 2012.
Sources and Additional Resources
[1] All Africa News: “Rwanda: Financial Literacy Campaign Taken to School Children,” http://allafrica.com/stories/201307220067.html
[2] Child Savings International (Aflatoun) Press Release: “Job Title: Part Time Research Coordinator – Rwanda,” http://www.aflatoun.org/docs/default-source/job-descriptions/research-coordinator-tor-for-rwanda.pdf?sfvrsn=2
MicroCapital story, April 29, 2013, “MICROCAPITAL BRIEF: Nonperforming Microfinance Loans in Rwanda Drop from 12% to 8.5%,” https://www.microcapital.org/microcapital-brief-nonperforming-microfinance-loans-in-rwanda-drop-from-12-to-8-5/
MicroCapital story, June 12, 2011, “MICROCAPITAL BRIEF: Association of Microfinance Institutions in Rwanda (AMIR) Cautions Microfinance Institutions (MFIs) Against “One-Size-Fits-All” Approach, Particularly in Rural Areas,” https://www.microcapital.org/microcapital-brief-association-of-microfinance-institutions-in-rwanda-amir-cautions-microfinance-institutions-mfis-against-%e2%80%9cone-size-fits-all%e2%80%9d-approach-particularly-in-rural-area/
MicroCapital story, March 28, 2011, “MICROCAPITAL BRIEF: Association of Microfinance Institutions in Rwanda (AMIR) Seeks Government Support, Tax Breaks,” https://www.microcapital.org/microcapital-brief-association-of-microfinance-institutions-in-rwanda-amir-seeks-government-support-tax-breaks/
MicroCapital Universe Profile: Association of Microfinance Institutions in Rwanda (AMIR) https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Association+of+Microfinance+Institutions+in+Rwanda+%28AMIR%29
MicroCapital Universe Profile: Child Savings International (Aflatoun) https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Child+Savings+International+%28Aflatoun%29
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