AFR, a non-profit company established in 2010 with the mission to promote financial inclusion and develop the financial sector in Rwanda, made a pledge to advance gender parity through signing the WIFR Gender Charter at its headquarters in Kacyiru.
The scholarships are part of a partnership between WIFR and the UK-based Chartered Institute for Securities and Investment (CISI), which provides certification in emerging fields such as sustainable finance and the future of finance.
The scholarship programme supports women across the financial sector by reducing the cost barrier to accessing globally recognised qualifications. While enrolment is valid for 12 months, learners can complete the CISI certification in as little as 12 weeks, depending on their schedule and commitment.
Speaking during the signing ceremony, AFR's CEO, Jean Bosco Iyacu, reflected on the institution's journey towards internal gender parity. He revealed that AFR has achieved equal representation of women on its board and executive committee and said the focus now shifts to increasing female representation across all staffing levels.
'This charter is not symbolicâ€"it's a reaffirmation that we're still on the journey. We haven't yet arrived,' Iyacu said.
"This charter becomes part of how we advocate for sector-wide change," he added.
The charter signing and scholarship awards also highlighted AFR's deepening collaboration with Women in Finance Rwanda, as the company recently signed a Memorandum of Understanding to support the foundation in conducting its first-ever survey to inform its activities.
"While individual institutions may know their internal figures, there's a real gap in sector-wide data. We don't fully understand the challenges women face that limit their progressâ€"or worse, push them out of the sector altogether," the AFR CEO added.
A general overview of the current landscape shows that while women make up 48.2% of Rwanda's labour force compared to 65.6% for men, their presence in high-impact roles remains limited. In the private sector, only 32% of decision-making positions are held by women. Moreover, they are significantly underrepresented in higher-paying technical fields, limiting both their economic empowerment and influence on financial policy and innovation.
Dr. Diane Karusisi, CEO of Bank of Kigali and a WIFR Council and Institutional Member, represented the foundation at the event, where she emphasised to AFR staff that the movement is driven by action, not mere aspiration.
'Gender equity won't happen if we just sit back and hope. It takes leadership. It takes intention. That's why this partnership with AFR matters,' she said.
Dr. Karusisi noted that the CISI certification programme has already had a measurable impact. One of the four scholarship recipients from the Bank of Kigali's previous cohort has since been promoted to a managerial role.
"That's a clear example of the tangible impact this programme is having on women's careers," the CEO quipped.
Speaking on behalf of the new AFR scholarship beneficiaries, Honnête Isimbi, AFR's Gender and Social Inclusion Specialist, stressed that the opportunity was not just about training, but about transformation.
"You've done more than just fund educationâ€"you've created access. You've opened doors to learning, to networks, and to platforms that have historically been difficult for women to reach. And we know that access is the first step toward transformation."
Highlighting the broader impact of the partnership and the collective commitment within AFR, Agnes Uwanyirigira, AFR's Chief Program Officer, emphasised the importance of institutional involvement in advancing gender equality.
'Today is a memorable day for the women at AFR who have grown, for the men, and for everyone who supports this agenda. I am proud to join Women in Finance Rwanda not just as an individual, but as an institution,' she remarked.
Beyond the scholarship programme, WIFR has also launched a mentorship initiative involving over 100 young professionals and 30 seasoned mentors. The programme aims to promote peer-to-peer learning and professional growth through structured group sessions over a nine-month period.
Wycliffe Nyamasege
