Global Money Week

2017 Rwanda Global Money Week

Leading Organizations:
AIESEC in Rwanda
Rwanda Sock Exchange

Participating Organizations:
College of Science and Technology, College of Business and Economics , University of Tourism Technology and Business, Studies UTB, KIM University, Green Hills Academy, Cornerstone High School, Wellspring International School, Rwanda Stock Exchange, National Bank of Rwanda, Rwandair, Rwanda Civil Aviation Authority, GIZ, EPRN, I&MBANK, Igihe.com, Inyarwanda.com, Ukwezi.com, Kigali today Touch Rwanda, RBA, CNBC Africa,
Lycée de Kigali, Cornerstone Primary School, Kigali City School, Nakummatt Super Market, FBFIC, NG Creative

Number of children reached directly: 4000
Number of children reached Indirectly: 7000

Throughout Global Money Week 2017, the AIESEC Rwanda along with partners reached 4000 children and youth through visits to Banks, Government institutions, NGO’s, Corporate etc.

During GMW, financial literacy awareness sessions were offered for children, youth and adults - including sessions on savings, monetary policies and economics.

High-level discussions, seminars, and other educational sessions were organized by National Bank of Rwanda and Rwanda Stock Exchange. The Rwanda Sock Exchange was opened by students from Lycee de Kigali and high-level representatives from AIESEC Rwanda, RSE CEO and Lycee de Kigali School Management. The participant visited National Bank of Rwanda for the activity of GMW study tour, students from Green Hills Academy a High School with UTB University students were introduced to following sessions, Functions of financial markets, Monetary policy and Research, currency and Banking and the role of Saving for a young person.

The GMW in Rwanda also focused on younger student with the activity: saving shop. During this activity, the students from Kigali City School (primary 3 groups) were introduced to saving shop activity in Nakummatt Super Market at Kigali down town. Furthermore, this year university students had the opportunity to visit Rwandair and Rwanda Civil Aviation Authority.

At the close of the week, additional Financial Fairs were held at University of Rwanda by BNR, RSE, I&MBank, and EPRN to teach children and youth the role of saving from early age.


2016 Rwanda Global Money Week

Leading Organizations:
AIESEC in Rwanda KCB Rwanda Ltd
Participating Organizations:
Rwanda Stock Exchange I&M Bank Nakumatt Rwanda PwC Rwanda Rwandair Kigali Institute of Management University of Rwanda
Date of the event:
14th - 20th of March
Total number of children & youth engaged: 6 000
Total indirect reach: 5 000

On 14 March, AIESEC Rwanda, in collaboration with the Rwanda Stock Exchange (RSE), organized a “Ring the Bell” event which marked the opening of GMW 2016 in Rwanda. Over 80 persons participated, and children and youth had the opportunity to ring the bell to open trading for the day, to learn how the stock market works and to interact with the CEO of the Stock Exchange. In addition, students from schools and universities seized the opportunity to create accounts with the stock market as a sign of their commitment towards saving and investing in Stocks.

The following day, leading organization KCB Bank opened the bank visits for the Week. Children from SOS Hermann Gmeiner Technical High School, for example, had the opportunity to visit various departments of the bank. The highlight of the event was the talk with the managing director of the bank, Mr. Toroitch, where he interacted with children about the history of banking while encouraging them to develop a culture of savings while they are still young. KCB Bank opened accounts for all 30 participants, crediting all children with 10,000 Rwf to encourage them to start saving in their own accounts. The banks visits continued the following days in the regional branches of KCB and I&M Bank. In addition, AIESEC Rwanda organized student visits to PWC and Rwandair to also show the corporate side of the business world. Furthermore, a “saving shops” activity was organized with eight schools. This practical competition taught students to save while shopping in a large shopping mall of Kigali. Media helped to advertise these wide-ranging activities during the Week.

Through this extensive program, Rwanda showed once again its active and strong commitment to Global Money Week!


2015 Rwanda Global Money Week

Participants:
Ministry of Finance and Economic Development (MINECOFIN) World Bank (country office) Ministry of Education (MINEDUC) Rwanda Stock Exchange Rwanda Capital Market Authority African Alliance Rwanda Plan International KPMG AIESEC in Rwanda Junior Achievement Rwanda PAJER Kenya Commercial Bank in Rwanda Ltd (KCB) Banque Populaire de Rwanda (BPR) Rwanda Bankers Association (RBA) Urwego Opportunity Bank (UOB) National University of Rwanda College of Business and Economics (CBE) SOS Technical High School WellSpring Academy Path To Success School Groupe Scolaire APACOPE Little Gems Academy Alpha Community Academy Riviera High School Ecole International de Kigali Groupe Scolaire Mwendo Groupe Scolaire Murama Groupe Scolaire Nyamata Catholique Groupe Scolaire Rilima Groupe Scolaire Masiga Groupe Scolaire Kibangu Groupe Scolaire St Paul-Kibeho Groupe Scolaire Runyombyi Groupe Scolaire Rasaniro
Press & Media:
CNBC Africa The East African TV-10 The NewTimes
Date of the event:
9th - 23rd of March
Number of children reached:
27 577

2015 Global Money Week in Rwanda saw a record collaborative effort and participation by various national actors from Government institutions, NGOs, private sector, and institution in the civil society, providing the foundation to develop inclusive financial services for young people in Rwanda. These institutions came together to create an impact, serve and strengthen a generation of young economic citizens.

The GMW celebrations were official launched with the Ring the Bell event at the Rwanda Stock Exchange. This was followed by many colorful and fun activities for children and youth. Other activities included presentations, briefings, drama, a saving shop contest (a practical contest where children and youth learned about how to shop smart, saving while shopping and the financial systems used at the supermarket), lessons in classrooms, club activities, visits to different banks in Rwanda and receiving information on banking operations and available products for youths, and the celebration of Aflatoun day.

It is noteworthy to mention that the Ministry of Finance and Financial Institutions announced their commitment to the launch of the SchoolBank project in Rwanda during the GMW 2015. The innovative nationwide project aims to increase financial inclusion by opening savings accounts and providing financial education and mentoring on financial matters to 100,000 children and youth.

Highlights of the week

Speeches, presentations, and discussions underscored the importance of saving and saving safely. Children and youth were urged to start saving and invest their money to generate revenues. For example, the executive director of Capital Market in a lecture on savings and collective investment schemes, encouraged students to form investment clubs at their schools for them to raise funds and invest jointly in the capital markets.

Likewise, directors and representatives of different banks urged youth to use banks not just for paying school fees or taking credit to start a business. They urged them to inculcate the habit of savings, earn interest, and create capital to start business. They also felt that more needed to be done to promote the habit of savings and that it should start at a very young age and nurtured by parents.

During the celebrations there was a special focus on the need for girls to take active participation in finance decisions. The banking institutions urged girls to take interest in learning about monetary systems and to pursue careers in banking and other financial sectors.

Plan International in Rwanda, a development agency, celebrated GMW 2015 through its project “Supporting Girls’ Futures through Education and Financial Education Training”. In addition to promoting the need for financial education and economic citizenship, there was focus on creating awareness about leadership & sexual reproductive health and roles skills, positive masculinity & gender-based violence, and saving & livelihood skills.

AIESEC in Rwanda played an important role in coordinating with various partners to conduct events across the country for the Global Money Week celebrations.

Quotes from participants.

A 14 year old girl, student of JSS and member of Club at Goupe Scolaire Saint Paul-Kibeho, while talking about learning the importance of saving, said, “Saving provides us wisdom and teaches discipline. You cannot easily fall for temptations once you save.”

Students also acknowledged that they learned a lot from the bank tour.

Kalisa Eric said that he learnt how to operate his own account. Daniela Rhema Mugisha said she learnt about the benefits of saving with banks and also about prudent practices.

“I did not know about the loan recovery process and how banks make profits, but I have now understood how banks make money, among other things,” said Joy Gatabazi.

Joyseln Uwineza was interested in the children’s account. She was also impressed by the IT department’s work, especially how they co-ordinate the bank’s operations.

Sharon Bayingana said: “We have visited several departments, like the treasury section, and now I know who to approach when I need a particular service from the bank.”

 

2014 Rwanda Global Money Week

Participants:
Parlement des Jeunes Rwandais (PAJER) SAGE Association of Microfinance Institutions in Rwanda Plan Rwanda
Date of the event:
1st February - 17th of March
Number of children reached:
9 000

Rwanda celebrated a month of activities prior to Global Money Week 2014. During the week they organized debates on the topic “Why the need for financial education?” The youth NGO PAJER partnered with Plan Rwanda to train over 6,000 voluntary savings and loan cooperatives with over 15,000 members. One of the most exciting events was the involvement of the above members in debates for Global Money Week which took place in their communities. The main focus was on financial education. PAJER also organized a debate in 4 secondary schools in Kigali.

One success story was that of Mukabalisa Philomena, aged 25, a mother of 5 children from Ineza Vsla. She is one of the beneficiaries that has succeeded due to the combination of a loan from Vsla and her participation in the cooperative. ‘Thanks to Plan Rwanda and PAJER in particular’, says Philomena. Before, she used to sell local cooking oil commonly known as Amamesa but after four weeks of her being in the co-op, she was among the first members that took a loan because she wanted to own her very own boutique. ‘I have been trained and actively participated in the Global Money Run-up activities; I now know how to use my money wisely but also share my dreams and passion with other people,’ said Philomena.

The Association of Microfinance Institutions in Rwanda organized activities on 17th March in Rwanda, joining countries around the globe in celebrating Aflatoun Day at the end of Global Money Week.