Rwanda is establishing itself as a prime launchpad for local and global innovators looking to scale across Africa, with the launch of the Rwanda Fintech Centre.
The Ministry of Information and Communication Technology and Innovation, the ICT Chamber, Kigali International Financial Centre, Rwanda FinTech Association, and Luxembourg Cooperation have collaborated to establish a new one-stop hub to manage and accelerate the country's fintech ecosystem.
The centre was inaugurated on Thursday, following the three-day Inclusive FinTech Forum.
The centre is designed to assist start-ups in diversifying into digital banking, insurance, and investing, bridging the gap between policy aspiration and real market solutions while also advancing Rwanda's FinTech Strategy (2024-2029).
Rwanda's fintech sector now includes more than 100 enterprises, particularly in payments and loans.
“The Rwanda FinTech Centre will play a critical role in advancing our ambition to build a vibrant digital economy and strengthen Rwanda’s position as a hub for innovation in Africa,” Paula Ingabire, minister of ICT and innovation, said at the launch.
Ingabire noted that the sector's contribution to financial inclusion has topped 90%.
The next goal is to guarantee that fintech innovation scales and delivers solutions that meet the needs of businesses and communities, she said.
Ingabire hopes the launch leads to meaningful implementation, progress, and influence.
"We move from pilots in our fintech ecosystem to scalable initiatives, and from individual efforts to coordinated ecosystem growth," according to her.
On the same day in Kigali, the country launched Innovate Rwanda, a digital gateway connecting startups, investors, innovation hubs, and ecosystem partners to speed collaboration and scalable solutions for Rwanda and content.
Ingabire explained about Innovate Rwanda, “It will provide innovators and partners with an environment to experiment, collaborate, and develop solutions that address real challenges across digital finance, public services, and cross-border trade.”
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