ASA International (Rwanda) Plc has officially launched savings deposit services for its clients, following approval from the National Bank of Rwanda (BNR) authorizing the institution to receive savings deposits.
ASA International is a microfinance institution listed on the London Stock Exchange. The institution operates in several countries and has its headquarters in the Netherlands. In Rwanda, ASA has 37 branches and serves more than 60,000 clients across the country.
This milestone marks an important step in ASA Rwanda’s journey to expand its financial services and bring reliable financial solutions closer to more Rwandans.
Participants at the launch event noted that increasing access to savings opportunities through licensed financial institutions will contribute to national economic growth and help more Rwandans access trusted financial services.
The Chief Executive Officer of ASA International (Rwanda) Plc, Christian Salifou, said the authorization to receive savings deposits is a major milestone in the institution’s history, after more than a decade of supporting micro, small, and medium-sized entrepreneurs with access to credit.
“Today, we are beginning a new chapter in ASA’s journey in Rwanda. Offering savings services will allow us to provide more complete and accessible financial solutions to our clients, while strengthening our contribution to their growth and to the country’s economic development,” he said.
He emphasized that while ASA had previously focused mainly on providing loans, the new authorization to receive deposits will enable the institution to deliver broader financial services to communities across Rwanda.
“Every franc saved today opens the door to tomorrow’s opportunities, whether it is expanding a business, paying school fees, dealing with unexpected challenges, or investing in the well-being of a family. We are pleased to launch this service through our Kimironko and Kicukiro branches. Our plan is to gradually roll it out across all our branches nationwide, so that more Rwandans can access trusted financial services close to where they live and work,” he added.
Gérard Mpyisi, Vice Chairperson of the Board of Directors of ASA International (Rwanda) Plc, said the launch of the new services is a significant step toward improving access to financial services for local communities.
“Today marks an important milestone for ASA Rwanda. We remain committed to providing financial services that are close to the people, especially women, youth, and small business owners, so that we can support them in expanding their activities and improving the livelihoods of their families. We believe that continued collaboration with different stakeholders will enable us to make a meaningful contribution to Rwanda’s economic development,” he said.
Representing the National Bank of Rwanda, Mushimirwa Clarisse, Director of the Microfinance Supervision Department at BNR, said the license was granted after ASA met the required standards and regulations governing deposit-taking microfinance institutions.
She noted that expanding the number of institutions authorized to offer deposit services is one of the ways to promote financial inclusion in Rwanda.
“We trust that ASA will provide reliable and high-quality services that will help people save with confidence and contribute to strengthening resilience within the financial sector,” she said.
ASA clients also welcomed the new services, saying they will make it easier for them to manage their finances. One of the clients, Ingabire Florence, said being able to access both loans and savings services from the same institution will help her plan her activities more effectively.
“We have already benefited from ASA’s loans, but now being able to save our money here is an opportunity that will help us build our savings and expand our businesses with confidence, knowing that our money is safe,” she said.
The launch of savings deposit services by ASA International (Rwanda) Plc comes at a time when Rwanda continues to strengthen efforts to increase access to financial services.
Various reports, including FinScope Rwanda 2024, show that Rwandans continue to use financial services at a high rate, with more than 90% of the population using at least one financial service, whether through banks, microfinance institutions, savings groups, or digital financial services.
