Rwanda recently launched eKash, a nationwide interoperable digital payment system intended to unite the country's financial ecosystem and hasten the transition to a cashless economy.
The platform represents a significant milestone in Rwanda's long-term digital transformation strategy, replacing previously fragmented payment systems with a unified national infrastructure.
eKash, developed in collaboration with the Government of Rwanda, the National Bank of Rwanda, RSwitch, The Rwanda Information Society Authority (RISA), Access to Finance Rwanda, AfricaNenda, the Gates Foundation, and the Mojaloop Foundation community, connects banks, mobile money operators, savings and credit cooperatives, and microfinance institutions into a single, seamless network.
RISA, in a statement, characterised eKash as a national digital public good intended to increase the efficiency, security, and affordability of online transactions.
The organisation went on express appreciation to key partners, whose collaboration enabled the rollout of the system, highlighting that the multi-stakeholder partnership is credited with aligning technology, policy and infrastructure to create a payment system that supports inclusive economic growth.
Minister of ICT and Innovation Paula Ingabire said the platform is central to achieving Rwanda’s Vision 2050 goals, noting that the country has already reached a 96 percent financial inclusion rate.
Ingabire emphasised that the platform already integrates with Rwanda’s major financial service providers, including Ecobank, Zigama CSS, I&M Bank, AB Bank, Bank of Africa, COPEDU PLC, Access Bank Rwanda, MTN MoMo and Airtel Money, SACCOs with more institutions expected to join soon.
She urged institutions to accelerate full integration and promote adoption to maximise public benefit.
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