ASA International (Rwanda) Plc has officially launched savings services for the public, following authorization from the National Bank of Rwanda (BNR) to accept deposits.
He emphasized that while they previously operated solely by issuing loans, the newly acquired authorization to accept savings will enable them to bring financial services to citizens across Rwanda.
He stated: “Every franc saved today opens up opportunities for tomorrow—whether for expanding a business, paying school fees, handling unexpected challenges, or investing in family well-being. We are pleased to launch this service through our Kimironko and Kicukiro branches. We plan to gradually roll it out to all our branches across the country so that more Rwandans can access reliable financial services close to where they live and work.”
Gérard Mpyisi, Vice Chairman of the Board of Directors of ASA International (Rwanda) Plc, noted that the launch of these services marks a significant step toward increasing citizens’ access to financial services within their communities. He said: “Today marks a significant milestone for ASA Rwanda.
We are committed to continuing the provision of financial services that are accessible to the community—particularly women, youth, and small-scale traders—to help them expand their businesses and improve their families’ livelihoods. We are confident that partnerships with various stakeholders will enable us to play a tangible role in Rwanda’s economic development.”
Clarisse Mushimirwa, Head of the Microfinance Supervision Department at the National Bank of Rwanda, stated that the license was granted after ASA met the requirements set by regulations governing deposit-taking financial institutions.
She emphasized that increasing the number of institutions offering deposit services helps promote financial inclusion in Rwanda. She said, “We are confident that ASA will provide reliable, high-quality services that enable citizens to save with confidence and contribute to greater financial inclusion.”
ASA clients also expressed that the new services would make it easier for them to manage their finances effectively. Florence Ingabire, an ASA client, noted that being able to access loans and save at the same institution would simplify her activity planning.
She said, “We already benefited from ASA’s loans, but the ability to deposit our money here is an opportunity that will help us save and expand our activities while being assured of the safety of our savings.”
The launch of deposit-taking services by ASA International (Rwanda) Plc comes as Rwanda continues its efforts to increase the number of citizens with access to financial services.
Various reports, including FinScope Rwanda 2024, indicate that Rwandans continue to engage with financial services at a high level, with over 90% using at least one financial service—whether provided by banks, financial institutions, savings groups, or digital financial platforms.