New financial education manual equips young entrepreneurs with practical tools for better money management

RWANDA (ILO News) - As young entrepreneurs in Rwanda’s digital economy work to grow their businesses, access to finance depends not only on available funding but also on the confidence and skills to manage money well. To help address this, the International Labour Organization has developed a new training tool, Financial Education for the Youth in the Digital Economy, under its project Boosting Decent Jobs and Enhancing Skills for Youth in Rwanda’s Digital Economy, funded by the Government of Luxembourg.

Designed as a practical trainee’s booklet to be used alongside a trainer’s manual, the new tool introduces core knowledge and skills for day-to-day financial management. It covers earning, spending, budgeting, savings, credit, money transfers, and insurance, while also helping learners set financial goals, communicate better about money, understand financial products, manage risks, and use both traditional and digital financial tools more effectively. It also reflects the realities that shape financial decisions, including social and household dynamics.

The manual brings learning to life through exercises, case studies, and fictional character profiles that reflect the different situations young people face. These include entrepreneurs and workers such as Patrick, a start-up business owner in Muhanga trying to stabilize and grow his repair workshop; Mutesi, a young woman in Musanze balancing formal employment with a side business in tourism; and Samuel, an informal gig worker in Kigali navigating irregular income, family responsibilities, and the need for greater financial security. Through such profiles, the booklet helps participants connect financial concepts to real-life decisions and challenges.

The tool is already being used through the project’s partnership with the Ministry of Youth and Arts and the YEGO Centres network. In Kigali, two five-day Training of Trainers sessions equipped 37 Youth Centre Coordinators and partner representatives from across all 30 districts with ILO-certified financial education methodology and the newly adapted materials. The training covered budgeting, savings, responsible borrowing, understanding credit costs, risks of over-indebtedness, and the safe use of payment systems.

As a next step, the trained coordinators will roll out the programme to young entrepreneurs through YEGO Centres across the country. In the medium term, the financial education package is envisaged to serve as a prerequisite for the referral of eligible businesses for access to funds, thereby strengthening financial readiness and contributing to higher-quality demand for finance. In this way, the new manual not only builds financial knowledge but also contributes to more effective pathways for youth-led enterprises to access and use finance productively.