By Senior Editor, China Africa News
KIGALI, Rwanda, July 10,2026 — Rwandans remain confident about their financial prospects despite continued pressure on household budgets, according to a new survey that suggests the country’s expanding financial inclusion efforts are now being tested by consumers’ growing demand for access to credit.
The findings, released Wednesday by TransUnion Rwanda, come as Rwanda continues to deepen its digital economy through widespread mobile money adoption and broader participation in formal financial services. While more people are entering the financial system, the survey suggests many still struggle to obtain the lending products they believe are essential to improving their economic circumstances.
According to TransUnion’s Consumer Pulse Study for the first quarter of 2026, 76 percent of respondents expect their incomes to increase over the next 12 months, while 16 percent anticipate no change. The results point to sustained confidence in the country’s economic outlook even as households continue to face financial pressures.
That optimism, however, is tempered by concerns over day-to-day finances. Half of those surveyed said they expect they will be unable to pay at least one current bill or loan in full. Many said they would cope by making partial payments, drawing on savings or taking on temporary additional work, suggesting that consumers are adjusting their finances rather than withdrawing from economic activity altogether.
The survey also found that 34 percent of respondents had reduced discretionary spending in recent months, although many continued to prioritize spending on digital services and selected lifestyle expenses, reflecting the growing role of digital platforms in everyday economic life.
Perhaps the clearest finding was the gap between demand for credit and consumers’ ability to obtain it.
Nearly all respondents — 98 percent — said access to credit and lending products is important to achieving their financial goals. Yet only 42 percent said they believe they currently have sufficient access to the financial products they need.
The disparity points to a growing challenge for Rwanda’s financial sector. As more citizens join the formal financial system, the next stage of financial inclusion may depend less on expanding access to basic services and more on ensuring that households and entrepreneurs can obtain affordable and appropriate credit.
The survey identified personal loans and student loans among the products consumers are most interested in, underscoring demand for financing that supports both immediate financial needs and longer-term investments in education and income generation.
Didier Mutabazi, chief executive officer of TransUnion Rwanda, said the findings reflect an evolution in the country’s financial inclusion agenda.
“Financial inclusion is not a single milestone. It is a journey,” Mr. Mutabazi said. “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 role that responsible credit can play in improving their financial well-being, creating an opportunity for financial institutions to expand access while strengthening credit visibility and digital trust.
The report also identifies trust as an increasingly important component of Rwanda’s digital financial ecosystem. As more financial services move online, maintaining confidence in digital transactions and lending systems will be essential to expanding participation while protecting consumers.
The findings suggest that Rwanda’s progress in financial inclusion has shifted the conversation beyond opening bank accounts or expanding payment services. Instead, attention is increasingly turning to whether consumers can access the financial tools needed to invest in businesses, finance education, acquire assets and build long-term financial resilience.
For policymakers and lenders alike, the survey highlights both progress and unfinished work. While consumers remain optimistic about their economic future, many continue to face barriers that limit their ability to translate that optimism into financial opportunity.
The TransUnion Consumer Pulse Study surveyed 259 adults aged 18 and older across Rwanda between Feb. 10 and March 9, 2026
