Equity Bank Rwanda has signed a Memorandum of Understanding (MoU) with the University of Technology and Arts of Byumba (UTAB) to enhance financial literacy, entrepreneurship, and career development for university students. The partnership, announced today, is set to provide students with the practical skills they need to succeed in the professional world and contribute to Rwanda’s economic growth.
Hannington Namara, Managing Director of Equity Bank Rwanda, emphasized the importance of financial education in shaping the future of Rwanda’s youth. “Our partnership with UTAB is a major step in unlocking student potential. When knowledge is present, decisions are made wisely. Teaching youth how to manage money well is key to building a sustainable economy.” he said.
Fr. Dr. Gilbert Munana, Vice Chancellor of UTAB, highlighted the university’s commitment to preparing students for leadership roles. “This collaboration supports our mission to prepare future leaders. Through deep, practical knowledge, our students will be equipped to contribute meaningfully to economic growth and community well-being.” he added.
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This partnership aligns with Rwanda’s Vision 2050, which focuses on developing human capital and fostering a knowledge-based economy. Equity Bank Rwanda, a subsidiary of Equity Group Holdings, has long been involved in initiatives aimed at financial inclusion and social impact, such as the Equity Leaders Program (ELP). UTAB, founded in 2006, offers programs in social sciences, management, agriculture, and more.
Together, the two institutions will focus on three main areas: financial literacy, entrepreneurship, and career development.
Financial Literacy
A key objective of the partnership is to enhance financial literacy among UTAB students. Equity Bank plans to deliver workshops, seminars, and potentially integrate financial literacy into the curriculum to teach students valuable skills like budgeting, saving, and investing. By focusing on these areas, the partnership seeks to equip students with the tools they need to make informed financial decisions and avoid common pitfalls, such as falling into debt or falling victim to scams.
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Equity Bank’s experience in providing financial education across East Africa will be instrumental in shaping this initiative, helping students better manage their personal finances and prepare for their future careers.
Entrepreneurship
Alongside financial literacy, the partnership will offer entrepreneurship training to UTAB students. Rwanda’s economy relies heavily on small and medium-sized enterprises (SMEs), and the development of young entrepreneurs is seen as a key factor in driving the country’s growth. The training will focus on key areas such as business planning, market research, and securing financing. Students will also have access to mentorship from industry experts and real-world case studies.
Career Development
The third focus of the partnership is career development. Equity Bank and UTAB are committed to helping students transition from academia to the workforce through internships, job fairs, and professional development workshops. This will include resume-building sessions, interview preparation, and access to internships, particularly within Equity Bank and its network of partners.
The collaboration draws on the success of Equity’s ELP, which provides paid internships and mentorship, helping students build leadership skills and gain valuable work experience.
Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.