Analysis on Respect of Consumer Rights during Conclusion of Loan Agreements with Financial Institutions in Rwanda

Abstract

Rwandan legal framework on human rights protection comprises numerous provisions describing measures to be applied in ensuring that human rights are effectively protected. The constitution of the republic of Rwanda of 2003 revised in 2015, displays a number of human rights protected under Rwandan law. Unlike other jurisdictions that consider consumer rights as human rights in their national supreme law, consumer rights are not recognised as human rights as per the Rwandan constitutional act, thus practices that infringe consumer rights which include being mistreated by financial institutions are realised. This paper urges that consumers being the weaker party, have been exploited by producers or service providers in various aspects due to lack of legal protection, especially during the transactions with financial institutions which include mobile money services. This article further recommends on measures that should be taken in ensuring that consumer rights are effectively protected.