Credit: EMA
On Thursday 13 November 2025, the European Microfinance Awards took place at the European Investment Bank in Luxembourg-Kirchberg and saw Rwanda’s RADIANT YACU awarded the 2025 prize.
According to the organisers, the awards received 103 initial applications, of which 44 were approved for more comprehensive evaluation in Round 2. This led to 21 applicants from fifteen countries being forwarded to an expert Selection Committee.
The committee included representatives from the Luxembourg Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade, as well as members of e-MFP, the Inclusive Finance Network Luxembourg (InFiNe.lu) and the Microinsurance Network – a strategic partner of the 2025 Award.
The Selection Committee chose twelve semi-finalists, and among them the three finalists, with the eventual winner, RADIANT YACU – Rwanda’s first and only dedicated microinsurance company – being selected by a High Jury.
At the ceremony, Chair of the EMA2025 High Jury, Lucia Spaggiari, presented the award to Emmanuel Nzanana, Operations Manager of RADIANT YACU, whose innovations in microfinance have made health insurance a reality for underserved rural communities in Rwanda.
The other two finalists were Britam General Insurance from Kenya and India’s DHAN Foundation.
Lucia Spaggiari, Innovation Director at MF Rating, thanked the High Jury for its work in selecting the winner, a task she said had been difficult due to the impressive achievements of all three finalists.
She said: “The diversity of DNA of the finalists was very enriching and demonstrated what can be achieved from very different backgrounds.”
Accepting the award, Nzanana paid tribute to the dedication of the company’s staff, board members, the Government of Rwanda, RADIANT YACU’s founding father Marc Rugenera, and partners who work to bring protection closer to farmers, low-income households and vulnerable groups. She said: “This award belongs to them, and to the communities whose courage inspires our mission,” adding: “As a microinsurance company dedicated to protecting underserved communities, this recognition affirms our commitment to strengthening resilience and expanding access to inclusive insurance in Rwanda.”
Ekhosuehi Iyahen, Secretary General of the Insurance Development Forum, described in her keynote speech how inclusive insurance can act as “a critical bridge that transforms uncertainty into opportunity, fear into foresight and vulnerability into agency”. But she added that, to achieve positive outcomes at scale, the sector must continue to innovate, while governments, development institutions, insurers and technology providers must develop meaningful partnerships with vulnerable communities.
In a video message, Luxembourg Deputy Prime Minister Xavier Bettel highlighted the Government of Luxembourg’s commitment to partnering in order to make insurance more affordable and practicable for those most in need. Minister Bettel said: “Luxembourg believes that inclusive insurance has enormous potential to strengthen resilience, especially for women and youth who are often the most vulnerable to shocks yet the least protected.”
EIB Vice-President Gelsomina Vigliotti thanked all three finalists for their work in strengthening financial resilience in environments under pressure from climate change, noting that “where entrepreneurs are much more exposed to health, climate and income shocks, providing microinsurance can really make a difference.”
