The Central Bank of Kenya and the National Bank of Rwanda have agreed to develop a framework that will allow fintech companies licensed in one country to operate in the other without acquiring a separate permit.
The move aims to accelerate cross-border digital payments in East Africa.
Soraya Hakuziyaremye, governor of the National Bank of Rwanda, and Gerald Nyaoma, deputy governor of the Central Bank of Kenya, signed the Kigali Declaration on Fintech License Passporting on the sidelines of the Inclusive FinTech Forum 2026 in Kigali, formalising the idea.
The proposed "license passporting" system would enable payment service providers that have been licensed in one jurisdiction to expand into another, while regulators coordinate supervision and control.
Currently, fintech businesses looking to operate in both Kenya and Rwanda must obtain separate licenses in each market, even if the regulatory requirements are identical, increasing compliance costs and delaying regional expansion.
According to Hakuziyaremye, the accord represents a significant step forward in regional financial integration.
"This marks an important achievement in our collective efforts to strengthen financial integration and enhance the digital payments ecosystem in our region," she said.
She emphasised that the initiative builds on previous achievement, such as license passporting agreements with the Bank of Ghana, which were granted in February 2025.
She stated that the framework is intended to be scalable and open to other African central banks, in line with the integration agendas of the East African Community and the African Continental Free Trade Area.
Nyaoma, on his part, stated that fintech firms frequently operate regionally but are subject to double licensing procedures.
He mentioned that similar passporting rules in the European Union have enabled financial firms licensed in one country to offer services in several markets.
Regulators believe closer cooperation is required as fintech firms expand across borders, with the framework anticipated to accelerate market entrance and encourage payment systems that operate across the larger East African market.
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