In a remarkable display of financial literacy and innovation, Institut de Formation Apostolique de Kimihurura (IFAK) secured the First Runner-Up position in the Money Makeover Challenge Cohort 3, an initiative organized by the Bank of Kigali in partnership with iDebate Rwanda.
The Money Makeover Challenge is a dynamic financial literacy competition designed to equip secondary school students with essential money management skills. Through mentorship provided by professionals from the Bank of Kigali, students learn to apply financial knowledge to real-world scenarios, developing practical business plans based on case studies designed by the bank itself.
This year, top-performing students from participating schools formed teams of three to represent their institutions in the final rounds. These selected teams presented innovative and realistic financial projects before a panel of judges, showcasing viable business ideas, sustainable budgeting, economic impact, and transformative potential.
The competition saw participation from some of Rwanda’s leading schools, including College St. André, Riviera High School, ESSA Nyarugunga, Kagarama Secondary School, Lycée Notre Dame de Cîteaux, and École Ste. Bernadette Kamonyi, among others.
Representing IFAK with excellence, the team composed of Balinda Cyemezo Bruce, Ineza Eluine, and Kamanzi Marvel Frank demonstrated commendable skill and creativity in their financial project. Their efforts earned them the runner-up position, just behind Kagarama Secondary School, which claimed the top spot with their outstanding project.
As part of the prize, IFAK’s team received 450,000 Rwandan Francs, directly deposited into their individual accounts at the Bank of Kigali. This reward is intended to support the implementation of their proposed project or to fund any other initiatives that contribute to financial empowerment and life transformation.
The Money Makeover Challenge continues to play a significant role in nurturing a financially savvy generation, promoting innovation, entrepreneurship, and responsible money management among Rwanda’s youth.
Congratulations to Team IFAK for their impressive achievement and to all participants for embracing the spirit of financial transformation and leadership.
