FAWE Girls students exchanging ideas during the competition.
The National Bank of Rwanda (NBR) has awarded top students from FAWE Girls’ School-Gisozi and Ecole des Sciences de Byimana after the two schools emerged as joint winners of the NBR School Quiz Challenge Grande Finale held last week at the Bank’s headquarters in Kigali.
The annual competition, organized under the NBR Engage Program, brings together secondary school students from across the country to test their knowledge of economics, finance, and the role of the central bank.
Students from Ecole de Sciences de Byimana and FAWE Girls School receiving awards.
The initiative aims to strengthen financial literacy among young people and empower a generation capable of making informed economic and financial decisions.
This year’s edition which is the 8th edition attracted 44 schools and 176 students, making it one of the most competitive rounds of the challenge since its inception. So far NBR has creased 50 clubs in different secondary schools bringing together over 1000 students
Speaking during the grand finale, NBR Chief Economist Dr. Thierry Kalisa said the competition plays an important role in helping young Rwandans understand how the economy works and how they can contribute to national development.
Dr. Thierry Kalisa, NBR-Chief Economist delivering a speech during NBR School Quiz Challenge.
“Through the NBR School Quiz Challenge, we aim to nurture a generation of young Rwandans who understand how the economy functions and who have the financial and economic literacy needed to participate meaningfully in our country’s development,” Dr. Kalisa said.
He added that the competition is more than just an academic contest.
“This programme is not simply a test of knowledge. It is a platform that allows you as young people to discover the relevance of economics and finance in everyday life and to become ambassadors of financial literacy within your families and communities,” he said.
Dr. Kalisa also commended teachers and mentors from participating schools for their dedication in preparing the students for the competition.
“Your commitment to guiding learners through this challenge and beyond is the foundation upon which this initiative is built. The curiosity, teamwork, and discipline demonstrated by these students will serve them far beyond this stage.” He said.
A Growing Initiative
The NBR School Quiz Challenge has steadily expanded since it was first introduced in 2019 as part of efforts to promote financial literacy among students.
The challenge primarily targets members of NBR Economic Clubs, which are established in secondary schools to promote understanding of financial and economic issues.
Schools participating in the clubs were initially selected based on top-performing institutions identified by the Rwanda Basic Education Board (REB) across all provinces. However, other schools that expressed interest were also given the opportunity to establish the clubs and participate in activities such as the quiz challenge.
A multi stage competition
The competition is conducted through several stages designed to test students’ knowledge and analytical skills.
The preliminary rounds, held in late January and early February, brought together schools within their respective provinces. The top schools from each province then progressed to the quarter-finals, followed by the semi-finals, before the best two teams advanced to the Grand Finale held on March 4 at the NBR headquarters in Kigali.
Throughout the competition, students answered questions covering topics such as monetary policy, financial systems, and the role of the central bank in managing the country’s economy.
The questions are designed to promote critical thinking, decision-making, and problem-solving, while interactive elements such as joker cards, which teams can use once per round, add an element of strategy and excitement.
Students reflect on the experience
For the students, the competition provided a valuable learning experience beyond their regular classroom studies.
Anita Niyonsaba, 17, from FAWE Girls’ School–Kigali’ , said the challenge helped her understand the importance of financial knowledge in everyday life.
“Participating in the NBR School Quiz Challenge opened my eyes to how the country’s financial system works and how the economy affects every citizen,” Niyonsaba, a S5 student pursuing Physiscs, Chemstry and Mathematics, (PCM)) said.
“Even though we study sciences, understanding financial literacy is important because it prepares us to make informed decisions and contribute to the development of our country.”
For Egide Tuyishimire, 19, from Ecole des Sciences de Byimana in Mathematics Chemistry and Biology (MCB) teamwork and persistence were key to their success.
Students from Ecole des Science de Byimana consulting one another during the NBR School Quiz challenge.
“At the beginning it was challenging because economic topics were new to us since we study sciences,” he said. “But through teamwork, research, and curiosity, we were able to understand concepts such as monetary policy and how the National Bank supports the economy.” He added.
Each student was awared alaptop and 400,000 Rwandan Francs bonds invested in national securities for them to start saving at early age.
“The laptop we received will support our studies, while the treasury bonds introduce us to the culture of saving and investing for the future. It is a powerful lesson that encourages young people to think long-term.”
Building a financially literate generation
According to Judith Nabaasa, the Chief Economist at the Ministry of Finance and Economic Planning (MINECOFIN) emphasized that initiatives such as the NBR School Quiz Challenge are essential for Rwanda’s long-term development.
Judith Nabaasa, the Chief Economist at MINECOFIN speaking during the NBR School quiz competition
“Economic and financial literacy is fundamental for Rwanda’s transformation into a knowledge-based economy. The choices we make as consumers, savers, and future professionals shape the trajectory of our economy,” she said.
As the programme continues to grow, the National Bank of Rwanda says it will keep expanding initiatives that promote economic and financial literacy among young people.
