Beritrand MUNYAZIKWIYE
On March 7, 2025, members of the Association of Credit Service Providers Rwanda (ACSP) held their first-ever meeting with the National Bank of Rwanda (BNR). The meeting aimed to strengthen collaboration and discuss the development of credit-providing institutions in Rwanda.
This gathering brought together all ACSP members, providing a platform for networking and conducting a general election to appoint new leaders for the association. ACSP Rwanda is committed to fostering collaboration, promoting best practices, and driving innovation in the non-deposit-taking credit industry to enhance financial inclusion and economic growth in Rwanda.
The incumbent chairperson, Mr. Felix Nkundimana, was re-elected to continue leading ACSP Rwanda. In his speech, he emphasized the significance of the meeting, noting that it would bring meaningful change to the association’s members.
“We are delighted to have held our first General Assembly. It was highly productive, as it helped us expand our network. We started with 35 members, but today, we have grown to 75, and the number is still increasing,” said Mr. Nkundimana.
He further highlighted the importance of collaboration, stating, “Networking and collaboration are crucial. As a non-profit association, we will strive to facilitate the merging of small institutions to form larger, more sustainable entities. We believe this General Assembly marks the beginning of a journey that will uplift and advance our sector.”
Jean Pierre Niyonagize, the director of Tukunganire Ltd and a board member of ACSP, emphasized that the association was much needed, as it aligns with BNR’s recommendation for credit-providing institutions to unite and address common challenges.
“We expect this association to act as our voice, making it easier to address the challenges we face in our work while also providing a platform for idea-sharing,” he said.
Mr. James Rwagasana, a representative from the National Bank of Rwanda (BNR), expressed his satisfaction with the high attendance and enthusiasm among ACSP members. He encouraged them to uphold transparency and deliver high-quality services.
“On behalf of the National Bank of Rwanda, we are very happy with the association, its leadership, and the members for making this happen. I also congratulate those who have been appointed to various committees and urge you to work together. I know it will take time and resources, but building a strong foundation is never easy,” he said.
He also acknowledged that challenges persist in the financial sector but reaffirmed the government’s commitment to making Rwanda a financial hub.
“The government has created a conducive environment for both domestic and foreign investors. We must seize this opportunity to provide excellent and transparent services. Transparency should be evident in our pricing, interest rates, and fee structures,” he added.
James Rwagasana assured ACSP members that the National Bank of Rwanda would continue to support and collaborate with them whenever necessary.
This first-ever meeting between ACSP Rwanda and BNR marked a significant step toward shaping the future of credit-providing institutions in Rwanda. Leaders, members, and key financial stakeholders agreed that collaboration will be essential in driving growth and contributing to Rwanda’s vision of becoming a global financial hub.
