Promoting women’s health and empowerment: Access Bank Rwanda’s ongoing commitment
Women’s Month is a dedicated time to celebrate and recognize the contributions, achievements, and struggles of women throughout history and in contemporary society. It is typically observed in the month of March and includes International Women’s Day on March 8th
Besides, the International Women’s Day (IWD) is a global day that celebrates the social, economic, cultural, and political achievements of women, while also advocating for gender equality and raising awareness about the challenges women continue to face.
Observed annually on March 8th, IWD is an occasion to honor the contributions of women throughout history and recognize the ongoing struggle for gender parity and women’s empowerment.
It is against this backdrop that Access Bank Rwanda, has decided to prioritize the well-being of women.
To this end, it has organized several activities during the month dedicated to them, including exhibitions for women in SMEs and breast cancer screenings.
This year, in honor of International Women’s Day, the lender offered free breast cancer screenings to over 213 women across the country.
Women were deeply grateful for the opportunity to access this crucial medical service at no cost, and many expressed their appreciation to Access Bank Rwanda for making it possible.
Last year, the Bank also provided free eye test where over 500 people were screened.
According to the Country Managing Director of Access Bank, Faustin Rukundo Byishimo, celebrating women is not limited to free medical checkups but also involves celebratory emails to female staff, sharing of creatives celebrating them on social media, and donation of branded gifts at various locations.
Women Banking
Attaching great significance to the role played by women in the society does not only end with the Women’s Month but has been adopted by the bank as a routine.
Access Bank Rwanda has launched several programs and initiatives that are aimed at empowering women, including the Women Banking Initiative, which provides financial and non-financial services tailored to the unique needs of women entrepreneurs and professionals.
The bank also offers a range of financial products and services that are specifically designed to meet the needs of women, such as the W Power Loan, which provides financing for women-owned businesses.
Else, the welfare of women and their families receives needed attention it deserves and can be reflected through six months maternity leave granted to employees.
Women in leadership positions
Access Bank Rwanda aims to be a highly respected African bank by setting sustainable business practices that empower employees, deliver superior customer value, and provide innovative solutions to communities.
The Access Women Network, a leading women network in Africa for corporate women, is committed to helping corporate women advance in the workplace by promoting commitment, assertiveness, empowerment, recognition, work-life balance, and innovation.
Access Bank Rwanda strongly believes in promoting gender equality and empowering women, including their participation in leadership positions. The bank is proud to have several women in executive roles, such as the Chairperson, Country Operating Officer and Executive Director among others heading different departments.
Moreover, the lender is proud to have a significant number of women in tech roles, such as Digital Banking, Information Security, and IT support staff that are provided with the support and resources they need to thrive.
Financial inclusion
Access Bank Rwanda introduced a package designed to cater specifically to the financial needs of women. The Women’s Savings Account offers a host of benefits that are tailored to meet the unique requirements of women and empower them to achieve their financial goals.
One of the standout features of the Women’s Savings Account is the competitive interest rate of up to 6% per annum, which is higher than the standard savings account interest rate. This means that women can grow their savings faster and earn more on their deposits.
Moreover, the Women’s Savings Account offers a range of other benefits, including free online banking, free debit card issuance, and access to exclusive discounts and offers.
The account also provides access to financial literacy programs, empowering women with the knowledge and skills they need to manage their finances effectively.
By introducing the Women’s Savings Account, Access Bank Rwanda demonstrated its commitment to empowering women financially and creating opportunities for them to thrive.
Strong growth with over Rwf4 billion profit
Access Bank Rwanda achieved a commendable performance in the year 2022 with a reported profit before tax of Rwf6.8 billion representing a record of 117% year-on-year growth.
The bank assets base grew by Rwf 33bn between 2021 and 2022 financial years, largely contributed by growth in loans to customers and investment securities which increased by Rwf 9.7bn and Rwf 23bn respectively.
Although the beginning of 2022 was marked with lots of uncertainties around the global economy due to Russia- Ukraine war, the bank capital position remained resilient with sufficient buffers to absorb any form of shocks. The source of funding significantly improved by Rwf 30bn year-on-year which enabled the Bank to close the year 2022 with good liquidity position.
According to the management, the achievement of the above performance is centered to collective teams’ efforts towards serving our customers’ needs, operational efficiency and strong international brand.
The bank focused on expanding its customer base and improving customer experience, which led to an increase in deposits and loans. Additionally, the bank leveraged its digital platforms to enhance its service delivery and improve operational efficiency and increasing revenue.
The bank’s strategy is to increase its competition by growing market share, various initiatives to drive profitability, and enhanced digital products to create of World of endless Opportunities.