Microfinance institutions in Rwanda are struggling due to the effects of COVID19. Clients are taking out savings leaving the institutions with less liquidity, according to a recent rapid assessment of how MFIs and SACCOs have been affected by the Coronavirus in Rwanda.
According to the assessment by Access to Finance Rwanda, 95% of the microfinance banks and limited liability microfinance institutions reported emergency need for liquidity in the next three months.
Decreasing revenue, mounting losses, specialised capacity needs, and supporting the clients in the changing environment were also cited as the most important concerns among sector actors.
