On May 28, 2025, at the 2025 Financial Alliance for Women Annual Summit, Rwanda took a significant step towards financial inclusion by signing the Women Entrepreneurs Finance Code (WE Finance Code). This initiative, coordinated by the Women Entrepreneurs Finance Initiative (We-Fi) aims to increase funding for women-led micro, small, and medium enterprises (WMSMEs) globally.

The implementation of the WE Finance Code in Rwanda is a collaborative effort involving key stakeholders: The National Bank of Rwanda, the Rwanda Bankers’ Association, the Ministry of Trade and Industry, and Access to Finance Rwanda.

Addressing the Gender Financing Gap

Despite Rwanda’s impressive financial inclusion rate (92% of adults have access to financial services), there remains a significant gender gap in access to credit.

The WE Finance Code seeks to address this disparity through three core commitments:

  1. LEADERSHIP: Financial institutions designate a member of their senior management team to champion the organizations’ efforts to support women-led businesses
  2. ACTION: Expanding and introducing new measures that will support women entrepreneurs
  3. DATA: Institutions commit to monitoring and reporting annually a commonly agreed set of indicators on the level of financing provided to WMSMEs or supporting others’ efforts to do so

A Blueprint for Systemic Reform

Governor Soraya Hakuziyaremye of the National Bank of Rwanda emphasized that “this initiative is more than symbolic; it’s a blueprint for systemic reform. It brings together leadership, data, and action to transform how financial institutions serve micro, small, and medium-sized enterprises” she stated.

The adoption of the WE Finance Code positions Rwanda as a leader in Africa’s efforts to promote gender-inclusive finance. By joining over 30 countries implementing the Code, Rwanda contributes to a global movement aiming to unlock the $1.7 trillion growth opportunity represented by women entrepreneurs.

Looking Ahead

The signing of the WE Finance Code marks an important step in Rwanda’s journey toward financial inclusivity. It reflects the country’s commitment to empowering women entrepreneurs and fostering economic growth. As implementation progresses, the focus will be on turning these commitments into tangible outcomes that benefit women-led businesses across the country.