SPENN Launches 'Regenerate Rwanda' Project: Bringing Digital Financial Services to 20,000 Rural Lives
The initiative, unveiled this month, aims to bridge the digital financial gap in rural communities focusing particularly on empowering women and youth. Through SPENN's comprehensive digital banking solution, these users will enjoy free money transfers, 4% interest on savings, and instant loans. Merchants will benefit from cost-free payment solutions and simplified business tools, while agents will benefit from competitive commissions as they help their communities access these digital financial services.
Project Impact and Reach
The initiative targets six key districts across Rwanda: Muhanga, Nyanza, and Huye in the Southern Province, and Rusizi, Nyamasheke, and Rubavu in the Western Province. Through this ambitious project, SPENN aims to:
- Transform financial access for over 20,000 individuals
- Create employment opportunities for more than 500 women and youth
- Empower over 5,000 merchants with digital business tools
- Enable free and seamless transactions through the SPENN Business platform
Julius Karake, Country Manager of SPENN Rwanda, highlighted during the agent training event: "Today, we successfully trained 200 new agents, primarily youth, with a majority being women. This milestone brings us closer to our clients, ensuring they have local agents to assist with transactions. Most importantly, we have created employment opportunities for 200 individuals in the Southern Province, strengthening financial inclusion in the region.
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Agent Network Development
SPENN has already made significant strides in establishing its agent network, successfully training 394 agents - 192 in the Western Province and 202 in the Southern Province. These agents will serve as financial ambassadors in their communities, facilitating digital transactions and promoting financial literacy.
Beza Cynthia, a newly trained SPENN agent from Muhanga District, shared her excitement: "I believe SPENN is making a valuable contribution to society by providing financial services with the lowest fees. This will help people in my community to manage their money more efficiently and securely".
Supporting National Vision
The Regenerate Rwanda Project directly aligns with Rwanda's National Strategy for Financial Inclusion, supporting the country's commitment to expanding financial access to all citizens. The initiative's focus on digital solutions advances Rwanda's digital transformation agenda while contributing to the government's vision of building a cashless economy.
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About SPENN
SPENN is an innovative digital banking platform that provides cost-free money transfer services in Rwanda. SPENN platform serves both banked and unbanked populations, offering comprehensive financial products to consumers, agents, and businesses to facilitate seamless financial transactions. For more information about SPENN, please visit: https://www.spenn.com