In the financial sector, gender equality remains a pressing issue, with women often facing barriers to access and opportunities. Addressing these concerns, I&M Bank Rwanda hosted a session titled “Inclusion, the I&M Way” on Friday, March 9, to commemorate International Women’s Day. The event aimed to amplify women’s voices and celebrate their contributions to the economy. Recognised as the best bank in the country in June 2023, I&M Bank Rwanda received an award from Capital Finance International, a globally recognised journal and online resource focusing on business, economics, and finance. Aline Mutambuka, Head of Human Resources at I&M Bank Rwanda Plc, emphasised the bank's dedication to gender diversity, revealing that women make up 50 per cent of their leadership. However, she acknowledged the ongoing journey towards progress, noting that women currently represent 46 per cent of the workforce. ALSO READ: I&M Bank, Network International team up to accelerate digital payment transformation in Rwanda To bridge this gap, the bank has implemented various initiatives to support women. We face challenges from both sides; it can be our male colleagues who may not fully understand the experiences of our female counterparts and support them accordingly. That's why open communication and discussions are crucial. For instance, if a woman is pregnant, it shouldn't be seen as a hindrance, but rather, how can we support her throughout her journey? Many women, especially lower level employees, struggle with maintaining a work-life balance and often feel disrupted. Some may wonder how others have achieved it. Therefore, we have implemented platforms to address these barriers, ensuring regular communication. “We organise monthly discussions on topics like work-life balance, delegation, and prioritisation, aiming to empower women at all levels to advance in their careers, she said. A key takeaway for all should prompt the question: How can we empower women to voice their opinions effectively? What steps can we take to enhance emotional intelligence among women, enabling them to confidently take their seats at the table and navigate barriers with ease? ALSO READ: Inside govt’s new plan for women’s financial inclusion The event's theme, Inspire Inclusion, resonated throughout discussions about women's access to financial services in Rwanda. Frida Kansiime, founder of Eclips Ltd, an IT solutions company and long-time client of I&M Bank, emphasised that while access exists, women must actively demonstrate their capabilities to leverage banking opportunities. She stressed the importance of maintaining regular banking transactions to establish financial credibility, noting that collaboration between women and financial institutions' partners, such as the Mastercard Foundation, facilitates access to funding. Despite challenges such as collateral requirements for loans, Kansiime expressed optimism about the increasing availability of support services, citing her own positive experiences as evidence of progress. Benjamin Mutimura, CEO of I&M Bank (Rwanda), underscored the role of financial inclusion in empowering women and fostering sustainable economic development. He emphasised the bank's acknowledgment that access to financial services transcends mere convenience; it serves as a catalyst for positive societal transformation, offering avenues for economic independence and opportunity. Furthermore, Mutimura highlighted I&M Bank's substantive commitment to supporting women in business through tangible initiatives, not just empty promises. These initiatives include targeted programmes addressing the specific challenges faced by women, such as limited access to finance and collateral. ALSO READ: I&M Bank, Swedish Embassy sign guarantee agreement to empower Rwanda's MSMEs One notable initiative involves collaborations with various partners, such as the Swedish Government, NASIRA, and BDF, to offer collateral-free loans of up to Rwf300 million to women entrepreneurs. Such financial support empowers them to invest in their ventures and realise their full potential. In line with its brand promise of being a reliable ally, I&M Bank has outlined a comprehensive three-year strategy focused on sustainability. Within this framework, the bank aims to empower over 1,500 women-owned businesses, transcending mere financial assistance by offering capacity-building programmes and providing continuous support throughout their entrepreneurial journey. We understand the critical importance of equipping women entrepreneurs with more than just financial support. That's why our tailored services extend beyond monetary transactions to offer comprehensive guidance and resources essential for navigating the complexities of the business landscape. Through networking opportunities and capacity-building workshops customised to their specific needs and aspirations, we aim to empower women entrepreneurs to succeed in their ventures. Our commitment to supporting women in business, along with our Micro, Small, and Medium Enterprise (MSME) clients, remains unwavering. We are dedicated to strengthening our partnerships and providing the necessary tools, resources, and guidance to ensure their continued growth and success,” Mutimura said. “As we commemorate International Women's Day, let us reiterate our pledge to stand by our clients every step of the way. Together, we will work towards building a brighter, more inclusive future for all,” he added.
