Country Briefing Note: Rwanda(NM)

Rwanda, also known as the land of a thousand hills, is a landlocked country in East Central Africa estimated to occupy 26,338 sq km.  ^[  1  ]    The country has high financial inclusion and health insurance coverage rates and regulation for microinsurance was introduced in 2018 to protect policyholders. The government is implementing various initiatives to encourage the development of financial products, including insurance solutions, tailored to the needs of underserved populations.

●      Rwanda is one of the fastest growing and top five performing economies in Africa.   ^[  2  ]    

●      The country has a very young population, with around 90% below 50 years and a median age of 19 years.

●      The agriculture sector employs the largest percentage (47.7%) of the labour force and contributes 24.9% to the GDP.   ^[  3  ]    

●      The Rwandan government has been acknowledged as a pacesetter in national responses to climate change effects and, by 2022, had raised more than USD 240m for its green fund.

●      In 2008, the government launched Umurenge savings and credit co-operatives (SACCOs) to boost rural savings and provide Rwandans with loans to improve their earnings and enhance their livelihoods. This has significantly contributed to the 93% financial inclusion rate in Rwanda.