The program, set to be implemented in partnership with Gate Consulting Group, was unveiled during WIFR's end-of-year dinner in Kigali on Saturday, December 7, 2024. The event was organised to reflect on and celebrate the organisation's achievements over the past year.
Dozens of representatives from leading institutions across banking, insurance, and related sectors attended the glamorous and highly interactive dinner. Organisations represented included Bank of Kigali, NCBA, BPR, I&M Bank, EcoBank, Old Mutual, ZEP-Re, One Acre Fund, Rwanda Finance, Access to Finance Rwanda, Urwego Bank, Mayfair Insurance, and Old Mutual among others.
Speaking at the event, Salma Nkusi, CEO of Gate Consulting Group, praised the partnership with WIFR, saying, "It was an easy collaboration because we both shared the same vision of supporting women's development."
According to Nkusi, the mentorship program is designed to bridge leadership gaps by overcoming existing barriers.
"While formal education is invaluable, this program opens up opportunities for employees to network, learn from leaders, and navigate challenges, all while becoming more strategic about their growth," Nkusi stated.
Nkusi's decision to pursue a mentorship program, dubbed 'LiftHerUp' two years ago, was influenced by her personal career journey as a woman and the valuable lessons she has learned over the years.
"I felt like what I missed, I really want to give it to younger women. One of our key goals is to shift mindsets, helping women realize that they have a voice and can contribute meaningfully at the table," added the CEO.
In the new partnership, at least 20 women from WIFR's membership will be onboarded into the nine-month program starting in March 2025. They will benefit from carefully crafted activities and interventions aimed at preparing them for career growth, unlocking their full potential, and building a pipeline of future women leaders.
According to a 2023 report from the World Bank, labour force participation in Rwanda stands at 55.1% for women and 66.4% for men, reflecting a gender gap in employment rates.
Nkusi acknowledged the government's efforts in increasing women's participation in the workforce and emphasized the need to boost the number of women in key decision-making positions, particularly in privately owned institutions, where the gap remains huge.
Lina Higiro, the Founding chair of WIFR, encouraged attendees to enrol in the mentorship program as mentors or mentees to build meaningful connections for their career growth.
"Opportunity dances with those already on the dance floor," quipped Higiro, who currently serves as Regional Head of Business Operations at NCBA Group.
Sylvain Nsabimana, Senior Finance Manager at NCBA Bank Rwanda PLC, also encouraged women to take up the challenge. Having mentored young professionals at NCBA, he believes strongly in the benefits of mentorship in scaling and deepening the sector.
"Young women should step up and take on leadership roles, as they are fully capable of leading institutions," said Nsabimana, who helps manage WIFR's finances and accounts.
Meanwhile, during the Saturday dinner, 16 young women were recognized for completing courses undertaken in partnership with different institutions including Chartered Institute of Securities and Investments (CISI).
Since its launch in 2023, the foundation has extended scholarships to about 50 staff members in the banking sector.
Clarrise Mukantambara, a Loan Officer at BPR Bank Rwanda Plc, expressed her immense joy after successfully completing the scholarship course.
"Thanks to Women in Finance Rwanda and its co-founder Lina Higiro, I've had the opportunity to enhance my skills and grow professionally. The knowledge I've gained is invaluable, and I'm excited to apply it in my career," shared Mukantambara.
Access to Finance Rwanda CEO, Iyacu Jean Bosco, announced that AFR, part of the FSD network, will support the WIFR Research project on the State of Women in the Financial Sector in collaboration with the Central Bank (BNR). He emphasized that this initiative would be the first of its kind in Africa. As part of WIFR's Data Pillar, the research findings will inform policy-making and enhance accountability in the sector.
Building on this momentum, Tony Francis Ntore, CEO of the Rwanda Bankers Association, commended the foundation's efforts and expressed a strong commitment to continued partnership.
The evening's program also highlighted the work of Belinda Bwiza, co-founder of WIFR, who spearheaded the Mentorship Pillar, further advancing the organization's mission to empower women in the financial sector.
As a gesture of gratitude, the WIFR leadership extended appreciation tokens to key partners, including the heads of the Rwanda Bankers Association, Access to Finance Rwanda, and IGIHE, for their unwavering support. Diane Karusisi, CEO of the Bank of Kigali, presented the tokens, while Amanda Musiimire served as the MC for the event.
With nearly 15 member institutions signing the WIFR Gender Diversity Charterâ€"a framework for measuring and monitoring progress annuallyâ€"the Rwandan financial sector now leads the way in promoting accountability for gender equality.
Wycliffe Nyamasege
