KIGALI – Most Rwandans are optimistic about their financial future, with more than three-quarters expecting their incomes to rise over the next year. Yet many continue to face day-to-day financial pressures and say they lack access to the credit needed to improve their economic prospects.
Those are among the findings of TransUnion Rwanda’s latest Consumer Pulse Study, released on Thursday, which surveyed 259 adults between February 10 and March 9 this year.
The report found that 76 percent of respondents expect their income to increase over the next 12 months, while another 16 percent believe their earnings will remain stable, suggesting broad confidence in the country’s economic outlook.
That optimism, however, coexists with persistent financial strain.
Half of those surveyed said they expect to be unable to pay at least one current bill or loan in full during the coming months. Many said they would cope by making partial payments, drawing on savings or taking on temporary work to bridge the gap.
Consumers are also tightening household budgets. About 34 percent reported cutting discretionary spending in recent months, although many continue to spend on digital services and other essential lifestyle needs.
The survey points to a widening gap between consumers’ financial ambitions and their ability to access formal credit.
Nearly all respondents — 98 percent — said access to credit and lending products is important to achieving their financial goals. Yet only 42 percent believe they have sufficient access to the financial products they need.
Personal loans and student loans were among the products most in demand, reflecting a desire to finance both immediate household needs and longer-term investments such as education.
Didier Mutabazi, Chief Executive Officer of TransUnion Rwanda, said the findings suggest Rwanda’s financial inclusion agenda is entering a new phase.
“Rwanda has made remarkable progress in expanding financial inclusion and digital participation,” Mutabazi said. “Financial inclusion is not a single milestone. It is a journey. The next step is helping more consumers move from basic financial access to the products and opportunities that support entrepreneurship, asset ownership and long-term financial resilience.”
He said consumers increasingly understand the value of credit, creating an opportunity for banks, lenders and policymakers to improve access while expanding responsible lending.
“Our latest report highlights that consumers understand the value of credit and are actively looking for ways to improve their financial futures,” Mutabazi said. “This creates a new agenda for the ecosystem, one focused on improving credit visibility, strengthening digital trust, enabling smarter decision-making and building the partnerships required to scale inclusive growth responsibly.”
The report also underscores the importance of trust as Rwanda’s digital economy continues to grow.
Mutabazi said stronger collaboration between financial institutions, businesses and consumers will be essential to build confidence, reduce barriers to financial services and ensure more people can participate safely in the digital economy.
The findings come as Rwanda continues to expand digital financial services and mobile money adoption, with policymakers increasingly focusing on deepening financial inclusion by improving access to affordable and responsible credit.
