FinScope Rwanda 2012 Consumer Survey Topline Findings€¦ · FinScope Rwanda 2012 Indicator...

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


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)


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


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


% 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


% 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


% 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


% 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


% 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


% 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


% 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


% 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


% 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



% 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



% 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



% 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



% 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



% 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



% 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


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


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


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


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


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


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


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


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


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


% 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


% 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


% 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


% 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


% 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


% 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



% 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



% 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



% 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



% 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



% 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



% 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




% 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




% 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




% 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




% 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




% 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




% adults

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FinScope Rwanda 2012 Consumer Survey Topline Findings€¦ · FinScope Rwanda 2012 Indicator...

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