Post on 23-Sep-2020
District Financial Inclusion Profile
FinScope Rwanda 2012Consumer SurveyTopline Findings
• Developed by FinMark Trust
• Not-for-profit organisation, Goal: “Making financial markets work for the poor”
• FinScope developed as research tool to provide information• Consumer survey in 16 countries in Africa: SMME survey in 6 countries in Africa;
• Implemented in Rwanda 2008
• Demand side component• Representative survey of individuals 18 years or older
• How do they generate money? How do they manage their money?
• Representativeness at national, urban-rural, provincial and district levels• Increased sample size from 2000 in 2008 to 6150 in 2012• Included a supply side component to look at aspects of ACCESS
About FinScope
• Implementing agency AFR• Funding provided• Oversee and accountable for survey implementation and delivery
• Technical Assistance: Yakini Development Consulting
• Fieldwork – Centre for Economic and Social Studies (CESS )
• Analysis – Institute of Policy Analysis and Research (IPAR) & Yakini
• Sampling, technical oversight & supervision, validation - National Institute of Statistics (NISR)
2012 Survey Implementation
FinScope Rwanda 2012 Indicator Analysis per District
Defining Financial Inclusion
The FinScope methodology uses financial product uptaketo segment the adult population
Total Adult Population = minimum age defined by the age at which individuals can
enter into a legal financial transaction in their own
capacity
Financially Excluded = adults who do not have/use any financial products and /or services – if borrowing, they
rely only on friends/family; and if saving, they save at home
Financially Included = adults who have/use financial products and/or
services - formal and/or informal
5
Defining Financial Inclusion
Financially Included = adults who have/use
financial products and/or services - formal and/or
informal
Informally served = adults who have/use financial products and/or
services which are not regulated, e.g. cooperatives, farmers associations,
savings clubs/groups, private moneylenders
Formally served = adults who have/use financial products and/or
services provided by a regulated financial institution (bank and/or non-
bank)
Defining Financial Inclusion
Formally served
Served by Other Formal financial institutions = adults who have/use financial
products and/or services provided by regulated non-bank formal financial
institutions (e.g. regulated microfinance institutions, SACCOs, insurance
companies, retail credit providers, remittance service providers)
Banked = adults who have/use financial products and/or services
provided by a commercial bank regulated by the central bank
Defining Financial Inclusion
Informally served
Formally served
Have/use bank products AND informal products
Have/use bank AND non-bank formal products
Have/use only bank products Have/use only
non-bank formal products
Have/use bank AND non-bank formal
products AND informal products
Have/use only informal products
Have/use non-bank formal products
AND informal products
Financial Inclusion
FS Rwanda 2012
Levels of exclusion
1.3m Rwandan adults still excluded
52.4
28.1
2008
2012
Exclusion decreased with 46%
UPTAKE – Did exclusion decrease through formal or informal uptake?Urban-rural exclusion levels
21.1%
28.7%
29.4%
Kigali City
Other Urban
Rural
147 000 excluded
1m excluded
139 000 excluded
Increased formal UPTAKE – what were the drivers?Provincial exclusion levels
21.1%
28.8%
29.7%
33.7%
26.1%
Kigali City
Southern Province
Western Province
Northern Province
Eastern Province
Kigali City 139 000
Southern Province 315 000
Western Province 306 000
Northern Province 250 000
Eastern Province 250 000
Increased formal UPTAKE – what were the drivers?Levels of exclusion per district – Kigali City
22.4%
21.3%
19.3%
Nyarugenge
Gasabo
Kicukiro
Increased formal UPTAKE – what were the drivers?Levels of exclusion per district – Southern Province
24.0%
29.7%
42.1%
32.3%
31.3%
14.4%
23.7%
32.5%
Nyanza
Gisagara
Nyaruguru
Huye
Nyamagabe
Ruhango
Muhanga
Kamonyi
Increased formal UPTAKE – what were the drivers?Levels of exclusion per district – Western Province
33.3%
25.4%
19.7%
17.2%
32.0%
41.4%
37.2%
Karongi
Rutsiro
Rubavu
Nyabihu
Ngororero
Rusizi
Nyamasheke
Increased formal UPTAKE – what were the drivers?Levels of exclusion per district – Northern Province
32.2%
40.5%
26.6%
32.1%
37.1%
Rulindo
Gakenke
Musanze
Burera
Gicumbi
Increased formal UPTAKE – what were the drivers?Levels of exclusion per district – Eastern Province
18.5%
16.8%
25.0%
18.5%
32.4%
40.4%
31.8%
Rwamagana
Nyagatare
Gatsibo
Kayonza
Kirehe
Ngoma
Bugesera
FS 2012
Are Rwandan adults using formal financial products and services or informal
mechanisms to manage their money?
Increased formal UPTAKE – what were the drivers?Both formal and informal uptake increased since 2008
38.6
57.5
21.1
42.1
2008
2012
% adults
% Formally served % Informally served
Formal uptake doubledInformal uptake increase 50%
2.6m informal
1.9m formal
66.1%
39.3%
37.7%
45.2%
60.6%
59.5%
Kigali City
Other Urban
Rural
Formally served Informally served
% of adults using formal financial products/services and the % using informal mechanisms -Urban-rural situation
0.3 million
0.3 million
2 million
0.2 million
0.4 million
1.3 million
% adults
% of adults using formal financial products/services and the % using informal mechanisms –Kigali City
63.1%
66.0%
69.1%
43.2%
48.4%
40.7%
Nyarugenge
Gasabo
Kicukiro
Formally served Informally served
% adults
% of adults using formal financial products/services and the % using informal mechanisms –Southern Province
37.2%
31.3%
25.6%
30.8%
38.0%
32.8%
49.0%
42.1%
71.9%
59.4%
48.7%
59.6%
53.6%
78.5%
64.4%
50.8%
Nyanza
Gisagara
Nyaruguru
Huye
Nyamagabe
Ruhango
Muhanga
Kamonyi
Formally served Informally served
% adults
% of adults using formal financial products/services and the % using informal mechanisms –Western Province
33.8%
33.2%
39.9%
43.2%
38.1%
38.2%
34.2%
57.4%
69.4%
70.5%
78.6%
55.2%
42.4%
48.7%
Karongi
Rutsiro
Rubavu
Nyabihu
Ngororero
Rusizi
Nyamasheke
Formally served Informally served
% adults
% of adults using formal financial products/services and the % using informal mechanisms –Northern Province
43.7%
34.2%
41.1%
35.7%
33.0%
47.2%
Rulindo
Gakenke
Musanze
Burera
Gicumbi
Formally served Informally served
% adults
% of adults using formal financial products/services and the % using informal mechanisms –Eastern Province
40.0%
49.5%
32.7%
50.3%
38.8%
31.9%
45.5%
76.9%
74.0%
64.3%
74.9%
53.2%
47.3%
46.5%
Rwamagana
Nyagatare
Gatsibo
Kayonza
Kirehe
Ngoma
Bugesera
Formally served Informally served
% adults
FS 2012
Which formal financial services do Rwandans have/use?
Increased formal UPTAKE – what were the drivers?Since 2008 uptake of commercial bank & non-bank formal services increased
11.6
32.8
14.2
22.8
2008
2012
% Commercial bank products/services % Formal non-bank products/services
1.5m Served by non-bank formal
1m Banked
% adults
Increased formal UPTAKE – what were the drivers?
53.2%
20.8%
17.1%
43.7%
31.1%
30.9%
Kigali City
Other Urban
Rural
Served by commercial banks Served by other formal institutions
0.2 million
1 million
0.3 million
0.6 mill
0.1 million
0.4 million
% Adults served by commercial bank and the % served by non-bank formal financial institutions - Urban-rural situation
% adults
% Adults served by commercial bank and the % served by non-bank formal financial institutions – Kigali City
51.9%
51.6%
57.6%
44.4%
42.6%
45.3%
Nyarugenge
Gasabo
Kicukiro
Banked Non-bank formal services uptake
% adults
% Adults served by commercial bank and the % served by non-bank formal financial institutions – Southern Province
17.3%
9.4%
5.6%
13.6%
15.6%
18.5%
24.7%
23.9%
33.2%
28.1%
24.6%
26.8%
32.3%
26.7%
37.6%
31.5%
Nyanza
Gisagara
Nyaruguru
Huye
Nyamagabe
Ruhango
Muhanga
Kamonyi
Banked Non-bank formal services uptake
% adults
% Adults served by commercial bank and the % served by non-bank formal financial institutions – Western Province
15.9%
17.6%
25.9%
24.5%
23.2%
25.1%
16.6%
27.2%
28.0%
27.5%
35.9%
26.8%
27.7%
26.6%
Karongi
Rutsiro
Rubavu
Nyabihu
Ngororero
Rusizi
Nyamasheke
Banked Non-bank formal services uptake
% adults
% Adults served by commercial bank and the % served by non-bank formal financial institutions – Northern Province
16.6%
9.5%
25.5%
12.8%
12.4%
31.7%
28.4%
29.7%
31.6%
26.3%
Rulindo
Gakenke
Musanze
Burera
Gicumbi
Banked Non-bank formal services uptake
% adults
% Adults served by commercial bank and the % served by non-bank formal financial institutions – Eastern Province
18.5%
23.5%
16.8%
20.5%
8.0%
9.6%
17.2%
30.8%
44.9%
25.5%
43.1%
34.6%
28.7%
41.9%
Rwamagana
Nyagatare
Gatsibo
Kayonza
Kirehe
Ngoma
Bugesera
Banked Non-bank formal services uptake
% adults
FS 2012
Which non-bank formal financial services do Rwandans have/use?
Increased formal UPTAKE – what were the drivers?Most significant increase in uptake caused by SACCOs,
but insurance/pension increased significantly too
1m adults
330 000 adults
3.9
0.0
2.5
4.1
22.3
7.3
5.8
% MFI/non-umurenge SACCOs products/services
% Umurenge SACCO product/services
% Insurance product/pension fund products
% Remittance through non-bank formal channels
2008 2012
5% have used mobile money to send/receivealthough trust is high38% trust Mobile money most as remittance channel
% adults
Increased formal UPTAKE – what were the drivers?% adults that have/use MFI, Umurenge SACCO and Insurance products - Urban-rural situation
7.8%
6.1%
3.0%
15.5%
18.9%
24.2%
18.1%
8.2%
5.0%
Kigali City
Other urban
Rural
Have/use MFI product/service Have/use U-SACCO product/service Covered by insurance
0.8 million
0.1 million
0.1 million
% adults
FS 2012
Umurenge SACCO uptake
Increased formal UPTAKE – what were the drivers?Percentage uptake amongst adults per province
Kigali City 103 000
Southern Province 264 000
Western Province 208 000
Northern Province 176 000
Eastern Province 247 000
15.5%
24.1%
20.1%
23.7%
26.1%
Kigali City
Southern Province
Western Province
Northern Province
Eastern Province
% adults
Increased formal UPTAKE – what were the drivers?Percentage uptake amongst adults per district - Kigali City
15.8%
18.9%
8.6%
Nyarugenge
Gasabo
Kicukiro
% adults
Increased formal UPTAKE – what were the drivers?Percentage uptake amongst adults per district – Southern Province
28.6%
25.0%
22.6%
20.2%
23.4%
18.5%
28.9%
25.4%
Nyanza
Gisagara
Nyaruguru
Huye
Nyamagabe
Ruhango
Muhanga
Kamonyi
% adults
Increased formal UPTAKE – what were the drivers?Percentage uptake amongst adults per district - Western Province
21.0%
20.7%
14.0%
26.6%
20.1%
17.8%
21.6%
Karongi
Rutsiro
Rubavu
Nyabihu
Ngororero
Rusizi
Nyamasheke
% adults
Increased formal UPTAKE – what were the drivers?Percentage uptake amongst adults per district – Northern Province
23.6%
25.8%
20.8%
24.5%
24.2%
Rulindo
Gakenke
Musanze
Burera
Gicumbi
% adults
Increased formal UPTAKE – what were the drivers?Percentage uptake amongst adults per district – Eastern Province
22.6%
36.2%
20.9%
33.3%
22.9%
19.1%
26.8%
Rwamagana
Nyagatare
Gatsibo
Kayonza
Kirehe
Ngoma
Bugesera
% adults
FS 2012
What kind of informal mechanisms do Rwandans use?
Increased formal UPTAKE – what were the drivers?Increased informal uptake since 2008 caused by a highly significant increase in reported informal credit uptake
57.5
40.2
48.4
38.6
37.6
7.9
% Informally served
% Informal savings mechanisms
% Informal credit mechanisms
2012 2008
2.2m adults
% adults
27.7%
40.8%
42.6%
29.8%
53.4%
51.4%
Kigali City
Other Urban
Rural
Saving informally Borrowed informally
1.7 million
0.2 miilion
0.3 million
Informal mechanisms used - Urban-rural situation
% adults
1.7 million
0.2 miilion
0.3 million
Informal mechanisms used per district – Kigali City
24.1%
33.2%
20.2%
23.2%
34.0%
27.6%
Nyarugenge
Gasabo
Kicukiro
Saving Borrowed
% adults
1.7 million
0.2 miilion
0.3 million
Informal mechanisms used per district – Southern Province
46.4%
42.7%
33.8%
38.9%
38.5%
39.5%
36.6%
37.6%
67.9%
55.7%
39.5%
56.6%
41.1%
74.4%
51.0%
33.5%
Nyanza
Gisagara
Nyaruguru
Huye
Nyamagabe
Ruhango
Muhanga
Kamonyi
Saving Borrowed
% adults
1.7 million
0.2 miilion
0.3 million
Informal mechanisms used per district – Western Province
31.8%
42.0%
52.3%
65.6%
34.0%
15.7%
24.1%
55.4%
65.8%
64.8%
72.4%
46.9%
35.1%
41.2%
Karongi
Rutsiro
Rubavu
Nyabihu
Ngororero
Rusizi
Nyamasheke
Saving Borrowed
% adults
1.7 million
0.2 miilion
0.3 million
Informal mechanisms used per district – Northern Province
42.7%
44.2%
51.6%
43.9%
47.9%
35.2%
36.8%
57.3%
54.1%
47.9%
Rulindo
Gakenke
Musanze
Burera
Gicumbi
Saving Borrowed
% adults
1.7 million
0.2 miilion
0.3 million
Informal mechanisms used per district – Eastern Province
65.1%
61.2%
53.6%
66.7%
43.6%
41.5%
35.9%
57.9%
64.3%
50.0%
62.1%
36.2%
29.8%
33.3%
Rwamagana
Nyagatare
Gatsibo
Kayonza
Kirehe
Ngoma
Bugesera
Borrowed Saving
% adults
FS 2012
FinScope financial access strand
The FinScope Access Strand is constructed based on the premise that the ultimate goal of financial
inclusion initiatives is formal financial inclusion. It is therefore constructed to illustrate the:
� % of adults that are financially excluded.
� % of adults who are financially served but not formally served – i.e. % of adults who are
informally served only.
� % of adults who are formally served but not banked – i.e. % of adults who are served by
nonbank formal financial institutions but not by commercial banks.
� % of adults who are banked – i.e. % of adults who are served by commercial banks.
Increased formal UPTAKE – what were the drivers?Rwandan Financial Access Strand
14.2
22.8
6.9
19.2
26.4
29.8
52.4
28.1
2008
2012
% Have/use bank products/services
% Have/use non-bank formal products/services only (not bank services)
% Have informal mechanisms only
% Exluded
% adults
Increased formal UPTAKE – what were the drivers?Financial access strand – Urban-rural
53.2%
20.8%
17.1%
12.9%
18.5%
20.6%
12.8%
32.0%
32.9%
21.1%
28.7%
29.4%
Kigali City
Other Urban
Rural
Have/use commercial bank product/service Have/use formal product/service but non-bank only
Have/use informal mechanisms only Financially excluded
% adults
Increased formal UPTAKE – what were the drivers?Financial access strand per province
53.2%
16.2%
21.5%
15.4%
16.6%
22.8%
12.9%
19.8%
15.9%
21.8%
24.5%
19.2%
12.8%
35.2%
33.0%
29.0%
32.8%
29.8%
21.1%
28.8%
29.7%
33.7%
26.1%
28.1%
Kigali City
Southern Province
Western Province
Northern Province
Eastern Province
Total
Have/use commercial bank product/service Have/use formal product/service but non-bank only
Have/use informal mechanisms only Financially excluded
% adults
1.7 million
0.2 miilion
0.3 million
Financial access strand per district – Kigali City
51.9%
51.6%
57.6%
11.2%
14.3%
11.5%
14.5%
12.7%
11.5%
22.4%
21.3%
19.3%
Nyarugenge
Gasabo
Kicukiro
Have/use commercial bank product/service Have/use formal product/service but non-bank only
Have/use informal mechanisms only Financially excluded
% adults
1.7 million
0.2 miilion
0.3 million
Financial access strand per district – Southern Proovince
17.3%
9.4%
5.6%
13.6%
15.6%
18.5%
24.7%
23.9%
19.9%
21.9%
20.0%
17.2%
22.4%
14.4%
24.2%
18.3%
38.8%
39.1%
32.3%
36.9%
30.7%
52.8%
27.3%
25.4%
24.0%
29.7%
42.1%
32.3%
31.3%
14.4%
23.7%
32.5%
Nyanza
Gisagara
Nyaruguru
Huye
Nyamagabe
Ruhango
Muhanga
Kamonyi
Have/use commercial bank product/service Have/use formal product/service but non-bank only
Have/use informal mechanisms only Financially excluded
% adults
1.7 million
0.2 miilion
0.3 million
Financial access strand per district – Western Province
15.9%
17.6%
25.9%
24.5%
23.2%
25.1%
16.6%
17.9%
15.5%
14.0%
18.8%
14.9%
13.1%
17.6%
32.8%
41.5%
40.4%
39.6%
29.9%
20.4%
28.6%
33.3%
25.4%
19.7%
17.2%
32.0%
41.4%
37.2%
Karongi
Rutsiro
Rubavu
Nyabihu
Ngororero
Rusizi
Nyamasheke
Have/use commercial bank product/service Have/use formal product/service but non-bank only
Have/use informal mechanisms only Financially excluded
% adults
1.7 million
0.2 miilion
0.3 million
Financial access strand per district – Northern Province
16.6%
9.5%
25.5%
12.8%
12.4%
27.1%
24.7%
15.6%
23.0%
20.6%
24.1%
25.3%
32.3%
32.1%
29.9%
32.2%
40.5%
26.6%
32.1%
37.1%
Rulindo
Gakenke
Musanze
Burera
Gicumbi
Have/use commercial bank product/service Have/use formal product/service but non-bank only
Have/use informal mechanisms only Financially excluded
% adults
1.7 million
0.2 miilion
0.3 million
Financial access strand per district – Eastern Province
18.5%
23.5%
16.8%
20.5%
8.0%
9.6%
17.2%
21.5%
26.0%
15.8%
29.7%
30.9%
22.3%
28.3%
41.5%
33.7%
42.3%
31.3%
28.7%
27.7%
22.7%
18.5%
16.8%
25.0%
18.5%
32.4%
40.4%
31.8%
Rwamagana
Nyagatare
Gatsibo
Kayonza
Kirehe
Ngoma
Bugesera
Have/use commercial bank product/service Have/use formal product/service but non-bank only
Have/use informal mechanisms only Financially excluded
% adults
FS 2012
Do Rwandans USE the financial products they have?
Increased formal UPTAKE – what were the drivers?Formal product uptake vs. usage - 23% of adults have used a formal service or product in the last month (55% of the formally served – 433 000 adults)
Used a formal product or service in last
month, 23.0
Used a formal product or service in last 6 months but not last
month, 9.2
Have a formal froduct but havent used in past
6 months, 9.9
Dont have or use formal products or
services, 57.9
Have/use a formal product/service, 42.1
Dont have or use formal products or
services, 57.9
Usage
Uptake
% adults
Increased formal UPTAKE – what were the drivers?Usage of bank vs. Umurenge SACCO products – Urban-rural situation
27.4%
41.5%
49.8%
10.3%
14.7%
19.6%
11.1%
15.9%
18.8%
30.4%
34.3%
33.0%
61.5%
42.6%
31.4%
59.3%
51.0%
47.4%
Kigali City
Other Urban
Rural
Kigali City
Other Urban
Rural
Ba
nk
us
ag
e s
tra
nd
Um
ure
ng
e S
AC
CO
us
ag
e s
tra
nd
Not used 6 months Used in last 6 months Used in last month
Increased formal UPTAKE – what were the drivers?Usage of bank vs. Umurenge SACCO products – Kigali City
62.4%
66.7%
51.4%
17.6%
9.5%
8.6%
20.0%
23.8%
40.0%
Nyarugenge
Gasabo
Kicukiro
Bank product usage
Used in last month Used in last 6 months Not used 6 months
67.7%
54.5%
68.4%
32.3%
31.8%
21.1%
13.6%
10.5%
Nyarugenge
Gasabo
Kicukiro
SACCO product usage
Used in last month Used in last 6 months Not used 6 months
Increased formal UPTAKE – what were the drivers?Usage of bank vs. Umurenge SACCO products – Southern Province
20.6%
11.1%
27.3%
33.3%
43.3%
33.3%
45.8%
29.8%
20.6%
27.8%
9.1%
14.8%
13.3%
13.9%
10.4%
23.4%
58.8%
61.1%
63.6%
51.9%
43.3%
52.8%
43.7%
46.8%
Nyanza
Gisagara
Nyaruguru
Huye
Nyamagabe
Ruhango
Muhanga
Kamonyi
Bank product usage
Used in last month Used in last 6 months Not used 6 months
36.7%
41.9%
34.1%
31.6%
34.9%
25.0%
72.5%
60.4%
36.7%
39.5%
48.8%
50.0%
30.2%
38.9%
19.6%
18.8%
26.5%
18.6%
17.1%
18.4%
34.9%
36.1%
7.8%
20.8%
Nyanza
Gisagara
Nyaruguru
Huye
Nyamagabe
Ruhango
Muhanga
Kamonyi
SACCO product usage
Used in last month Used in last 6 months Not used 6 months
Increased formal UPTAKE – what were the drivers?Usage of bank vs. Umurenge SACCO products – Western Province
22.6%
38.2%
42.0%
34.0%
20.0%
29.2%
24.2%
12.9%
17.6%
4.0%
19.1%
6.7%
18.7%
18.2%
64.5%
44.1%
54.0%
46.8%
73.3%
52.1%
57.6%
Karongi
Rutsiro
Rubavu
Nyabihu
Ngororero
Rusizi
Nyamasheke
Bank product usage
Used in last month Used in last 6 months Not used 6 months
34.2%
59.0%
53.8%
66.7%
64.9%
50.0%
61.0%
52.6%
30.8%
38.5%
20.8%
27.0%
33.3%
24.4%
13.2%
10.3%
7.7%
12.5%
8.1%
16.7%
14.6%
Karongi
Rutsiro
Rubavu
Nyabihu
Ngororero
Rusizi
Nyamasheke
SACCO product usage
Used in last month Used in last 6 months Not used 6 months
Increased formal UPTAKE – what were the drivers?Usage of bank vs. Umurenge SACCO products – Northern Province
21.2%
38.9%
34.7%
24.0%
25.0%
15.2%
38.9%
22.4%
32.0%
16.7%
63.6%
22.2%
42.9%
44.0%
58.3%
Rulindo
Gakenke
Musanze
Burera
Gicumbi
Bank product usage
Used in last month Used in last 6 months Not used 6 months
39.1%
34.7%
40.5%
52.2%
47.7%
37.0%
44.9%
29.7%
32.6%
38.6%
23.9%
20.4%
29.7%
15.2%
13.6%
Rulindo
Gakenke
Musanze
Burera
Gicumbi
SACCO product usage
Used in last month Used in last 6 months Not used 6 months
Increased formal UPTAKE – what were the drivers?Usage of bank vs. Umurenge SACCO products – Eastern Province
19.4%
37.0%
60.6%
35.0%
33.3%
44.4%
41.2%
36.1%
23.9%
12.1%
20.0%
33.3%
27.8%
20.6%
44.4%
39.1%
27.3%
45.0%
33.3%
27.8%
38.2%
Rwamagana
Nyagatare
Gatsibo
Kayonza
Kirehe
Ngoma
Bugesera
Bank product usage
Used in last month Used in last 6 months Not used 6 months
51.2%
44.4%
53.8%
56.7%
40.5%
47.1%
41.2%
30.2%
33.3%
25.6%
21.7%
42.9%
44.1%
25.5%
18.6%
22.2%
20.5%
21.7%
16.7%
8.8%
33.3%
Rwamagana
Nyagatare
Gatsibo
Kayonza
Kirehe
Ngoma
Bugesera
SACCO product usage
Used in last month Used in last 6 months Not used 6 months
FS 2012
Saving and borrowing behaviour
Increased formal UPTAKE – what were the drivers?% of adult population saving and borrowing per province
69.3%
69.7%
67.5%
66.5%
68.9%
68.4%
45.6%
58.4%
64.4%
53.0%
55.2%
56.3%
Kigali City
Southern Province
Western Province
Northern Province
Eastern Province
Total
Save Borrow/Have debt
% adults
Increased formal UPTAKE – what were the drivers?% of adult population saving and borrowing - Urban-rural situation
69.3%
71.2%
67.8%
68.4%
45.6%
61.6%
57.6%
56.3%
Kigali City
Other urban
Rural
Total
Save Borrow/Have debt
% adults
Increased formal UPTAKE – what were the drivers?% of adult population saving and borrowing per district – Kigali City
63.9%
73.0%
67.1%
40.2%
50.4%
40.7%
Nyarugenge
Gasabo
Kicukiro
Save Borrow/Have debt
% adults
Increased formal UPTAKE – what were the drivers?% of adult population saving and borrowing per district – Southern Province
79.1%
77.1%
53.3%
67.2%
56.3%
90.3%
73.7%
61.4%
74.0%
59.4%
45.1%
56.1%
42.2%
84.1%
60.8%
47.7%
Nyanza
Gisagara
Nyaruguru
Huye
Nyamagabe
Ruhango
Muhanga
Kamonyi
Save Borrow/Have debt
% adults
Increased formal UPTAKE – what were the drivers?% of adult population saving and borrowing per district – Western Province
60.0%
71.0%
89.1%
90.1%
59.3%
50.3%
53.8%
55.9%
69.9%
77.2%
76.0%
55.2%
54.5%
61.8%
Karongi
Rutsiro
Rubavu
Nyabihu
Ngororero
Rusizi
Nyamasheke
Save Borrow/Have debt
% adults
Increased formal UPTAKE – what were the drivers?% of adult population saving and borrowing per district – Northern Province
67.8%
61.1%
74.0%
70.4%
60.3%
36.2%
29.5%
70.3%
75.5%
50.5%
Rulindo
Gakenke
Musanze
Burera
Gicumbi
Save Borrow/Have debt
% adults
Increased formal UPTAKE – what were the drivers?% of adult population saving and borrowing per district – Eastern Province
80.5%
78.1%
76.5%
79.5%
59.6%
49.5%
56.6%
74.4%
57.1%
61.7%
67.7%
46.8%
43.6%
36.9%
Rwamagana
Nyagatare
Gatsibo
Kayonza
Kirehe
Ngoma
Bugesera
Save Borrow/Have debt
% adults
FS 2012
Savings mechanisms
Increased formal UPTAKE – what were the drivers?Significant increase in SACCO usage for savings leads to
decreased usage of “home/own” mechanisms
14.1
2.9
37.6
38.7
27.9
15.8
25.2
3.7
21.5
40.2
24.4
21.5
Bank savings
Other formal savings
Saving with MFI
Saving with Umurenge SACCO
Informal savings mechanisms
Save at home
Buying an asset/livestock
% of savers
2008 2012
Increase
Decrease
Increased formal UPTAKE – what were the drivers?FinScope Savings Strand
The FinScope saving strand is constructed based on the premise that
the ultimate goal is FORMAL savings. It is therefore constructed to
illustrate the:
� % of adults that are not saving.
� % of adults who are saving but who are not using informal
mechanisms or formal products i.e. they save only at home or in
kind.
� % of adults who are saving using external mechanisms but they
are not using formal savings products i.e. they use only informal
mechanisms or they save at home.
� % of adults who save with formal financial institutions.
Increased formal UPTAKE – what were the drivers?Saving strand per province
55.6%
31.8%
30.0%
33.6%
33.8%
35.6%
10.3%
22.9%
22.9%
26.6%
27.5%
22.6%
5.3%
17.7%
16.2%
9.4%
10.2%
12.6%
28.8%
27.6%
30.9%
30.4%
28.5%
29.2%
Kigali City
Southern Province
Western Province
Northern Province
Eastern Province
Total
Formal savings product Informal savings mechanisms only
Own savings mechanisms only – save at home or in kind No savings products or mechanisms
% adults
Increased formal UPTAKE – what were the drivers?Saving strand – Urban-rural situation
55.6%
33.2%
32.0%
35.6%
10.3%
23.4%
25.0%
22.6%
5.3%
17.2%
13.3%
12.6%
28.8%
26.2%
29.7%
29.2%
Kigali City
Other urban
Rural
Total
Formal savings product Informal savings mechanisms only
Own savings mechanisms only – save at home or in kind No savings products or mechanisms
% adults
Increased formal UPTAKE – what were the drivers?Saving strand per district – Kigali City
53.9%
57.8%
52.7%
7.9%
11.9%
9.5%
5.0%
3.7%
8.6%
33.2%
26.6%
29.2%
Nyarugenge
Gasabo
Kicukiro
Formal savings product Informal savings mechanisms only
Own savings mechanisms only – save at home or in kind No savings products or mechanisms
% adults
Increased formal UPTAKE – what were the drivers?Saving strand per district – Southern Province
31.1%
28.6%
24.1%
27.3%
31.8%
29.7%
42.8%
37.6%
26.5%
26.6%
24.1%
26.3%
21.9%
25.1%
15.5%
18.3%
23.0%
22.9%
6.7%
16.7%
7.3%
35.9%
17.0%
12.7%
19.4%
21.9%
45.1%
29.8%
39.1%
9.2%
24.7%
31.5%
Nyanza
Gisagara
Nyaruguru
Huye
Nyamagabe
Ruhango
Muhanga
Kamonyi
Formal savings product Informal savings mechanisms only
Own savings mechanisms only – save at home or in kind No savings products or mechanisms
% adults
Increased formal UPTAKE – what were the drivers?Saving strand per district - Western Province
26.2%
31.1%
32.1%
37.5%
23.7%
31.4%
27.1%
22.1%
23.3%
32.6%
38.0%
22.2%
9.9%
14.1%
13.8%
18.1%
24.4%
15.1%
17.0%
10.5%
14.6%
37.9%
27.5%
10.9%
9.4%
37.1%
48.2%
44.2%
Karongi
Rutsiro
Rubavu
Nyabihu
Ngororero
Rusizi
Nyamasheke
Formal savings product Informal savings mechanisms only
Own savings mechanisms only – save at home or in kind No savings products or mechanisms
% adults
Increased formal UPTAKE – what were the drivers?Saving strand per district – Northern Province
36.7%
33.2%
36.5%
32.7%
29.9%
24.6%
24.7%
30.7%
25.0%
26.8%
9.0%
8.9%
9.9%
13.8%
6.2%
29.6%
33.2%
22.9%
28.6%
37.1%
Rulindo
Gakenke
Musanze
Burera
Gicumbi
Formal savings product Informal savings mechanisms only
Own savings mechanisms only – save at home or in kind No savings products or mechanisms
% adults
Increased formal UPTAKE – what were the drivers?Saving strand per district – Eastern Province
36.4%
43.4%
29.6%
42.1%
28.7%
26.6%
29.8%
32.8%
35.2%
33.7%
28.7%
23.4%
16.5%
19.7%
12.3%
4.1%
15.8%
12.8%
9.0%
7.4%
9.6%
18.5%
17.3%
20.9%
16.4%
38.8%
49.5%
40.9%
Rwamagana
Nyagatare
Gatsibo
Kayonza
Kirehe
Ngoma
Bugesera
Formal savings product Informal savings mechanisms only
Own savings mechanisms only – save at home or in kind No savings products or mechanisms
% adults
FS 2012
Credit mechanisms
Increased formal UPTAKE – what were the drivers?General increase in terms of uptake of all borrowing sources since 2008
2.6
1.9
8.1
15.1
3.3
6.5
1.8
3.9
48.4
27.5
Bank loan
Other formal loan
MFI loan
Umurenge SACCO loan
Informal borrowing
Borrowing from friends and family
% of borrowers
2008 2012
Increased formal UPTAKE – what were the drivers?FinScope Credit Strand
The FinScope credit strand is constructed based on the premise that
the ultimate goal is FORMAL borrowing. It is therefore constructed to
illustrate the:
� % of adults that are not borrowing/have debt.
� % of adults who do borrow but who are not using informal
mechanisms or formal products i.e. they borrow only from family
and friends.
� % of adults who are borrowing/have debt but who are not using
formal credit products i.e. they use only informal mechanisms or
they borrow from family and friends.
� % of adults who have a loan with formal financial institutions but
don’t have a bank loan.
� % of adults who have a bank loan.
Increased formal UPTAKE – what were the drivers?Credit strand per province
9.5%
1.8%
2.0%
2.2%
2.8%
3.3%
5.1%
5.7%
6.1%
6.7%
6.5%
6.0%
23.8%
47.3%
48.5%
40.4%
46.0%
42.7%
6.3%
5.5%
7.5%
8.4%
5.2%
6.5%
55.3%
39.8%
35.8%
42.2%
39.4%
41.5%
Kigali City
Southern Province
Western Province
Northern Province
Eastern Province
Total
Bank credit products Only non-bank formal credit products
Informal credit mechanisms only Own credit mechanisms only – family and friends
No credit products or mechanisms
% adults
Increased formal UPTAKE – what were the drivers?Credit strand – Urban-rural
9.5%
3.0%
2.1%
3.3%
5.1%
5.6%
6.3%
6.0%
23.8%
47.2%
45.8%
42.7%
6.3%
6.0%
6.6%
6.5%
55.3%
38.3%
39.2%
41.5%
Kigali City
Other urban
Rural
Total
Bank credit products Only non-bank formal credit products
Informal credit mechanisms only Own credit mechanisms only – family and friends
No credit products or mechanisms
% adults
Increased formal UPTAKE – what were the drivers?Credit strand per district – Kigali City
10.8%
9.8%
7.8%
7.1%
4.9%
3.7%
16.6%
27.5%
23.0%
7.5%
7.0%
3.7%
58.1%
50.8%
61.7%
Nyarugenge
Gasabo
Kicukiro
Bank credit products Only non-bank formal credit products
Informal credit mechanisms only Own credit mechanisms only – family and friends
No credit products or mechanisms
% adults
Increased formal UPTAKE – what were the drivers?Credit strand per district – Southern Province
2.0%
1.0%
1.6%
3.1%
2.6%
4.1%
9.2%
4.7%
4.1%
3.5%
3.1%
8.7%
6.2%
6.1%
58.2%
52.1%
36.9%
54.5%
37.5%
66.2%
44.8%
29.9%
5.1%
7.8%
4.6%
5.6%
2.1%
4.1%
6.7%
7.1%
25.5%
35.4%
54.4%
35.4%
55.7%
17.9%
39.7%
52.8%
Nyanza
Gisagara
Nyaruguru
Huye
Nyamagabe
Ruhango
Muhanga
Kamonyi
Bank credit products Only non-bank formal credit products
Informal credit mechanisms only Own credit mechanisms only – family and friends
No credit products or mechanisms
% adults
Increased formal UPTAKE – what were the drivers?Credit strand per district – Western Province
1.5%
3.6%
.5%
1.0%
2.6%
4.0%
1.5%
6.7%
7.3%
10.4%
7.7%
4.7%
4.5%
53.3%
60.1%
57.0%
62.5%
40.2%
30.9%
39.7%
5.1%
5.7%
9.8%
6.3%
5.2%
9.4%
10.0%
38.5%
27.5%
22.3%
20.3%
45.9%
52.4%
41.7%
Karongi
Rutsiro
Rubavu
Nyabihu
Ngororero
Rusizi
Nyamasheke
Bank credit products Only non-bank formal credit products
Informal credit mechanisms only Own credit mechanisms only – family and friends
No credit products or mechanisms
% adults
Increased formal UPTAKE – what were the drivers?Credit strand per district – Northern Province
1.5%
.5%
4.2%
2.0%
2.6%
8.5%
5.3%
6.2%
6.6%
7.2%
30.2%
33.2%
51.0%
46.9%
38.7%
2.5%
4.2%
12.5%
14.8%
7.2%
57.3%
56.8%
26.0%
29.6%
44.3%
Rulindo
Gakenke
Musanze
Burera
Gicumbi
Bank credit products Only non-bank formal credit products
Informal credit mechanisms only Own credit mechanisms only – family and friends
No credit products or mechanisms
% adults
Increased formal UPTAKE – what were the drivers?Credit strand per district – Eastern Province
4.1%
3.6%
5.1%
1.0%
1.6%
.5%
3.0%
8.7%
10.2%
6.6%
9.7%
1.1%
3.7%
4.5%
52.8%
53.6%
47.4%
57.4%
42.0%
38.3%
31.3%
4.6%
6.1%
8.7%
5.1%
5.3%
3.7%
2.0%
29.7%
26.5%
32.1%
26.7%
50.0%
53.7%
59.1%
Rwamagana
Nyagatare
Gatsibo
Kayonza
Kirehe
Ngoma
Bugesera
Bank credit products Only non-bank formal credit products
Informal credit mechanisms only Own credit mechanisms only – family and friends
No credit products or mechanisms
% adults
Thank you