On Sunday February 2nd, fintech founders, leaders and investors gathered in the Visit Rwanda box at Emirates Stadium for the awaited showdown between Arsenal and Manchester City.
Football was not the only topic of discussion. From February 24-26, Rwanda will be hosting the Inclusive FinTech Forum, a global platform for fintechs, founders, investors and policymakers to advance policies and regulations to promote financial inclusion across Africa and the globe. The event is expected to attract thousands of attendees and will feature addresses from leaders such as H.E. President Paul Kagame.
Rwandan High Commissioner to the UK, Johnston Busingye, shared with guests Rwanda’s growth journey, how fintech has transformed the lives of Rwandans and invited those that are not yet present in Rwanda or in Africa to “be part of this transformative journey”. Fintech startups in Rwanda have almost tripled in the last 10 years, from 17 in 2014 to 80+ in 2024, with the Government of Rwanda launching the National Fintech Strategy in 2024 with the goal to position the country as a launchpad for Fintechs and drive digital financial inclusions for economic growth. We can expect more startups to register following the Inclusive Fintech Forum, which, as a result of the IFF 2023 event, saw the formation of three companies.
The founders and CEOs, who were invited by Visit Rwanda in collaboration with Kigali International Finance Centre, heard first-hand testimonials about the ease of doing business in Rwanda, particularly that it was a reliable market and their experiences with the Central Bank of Rwanda (BNR) were smoother and swifter than in most other countries. One founder remarked that it took him only three months to receive a licence from the Central Bank in Rwanda, whereas another country took three years. Rwanda’s streamlined licensing process is only improving – moving from an average of four months to one-to-two months this year.
Amidst the buzz of the match, which ended in a remarkable 5-1 victory to Arsenal, High Commissioner Busingye told guests, “If you work in fintech and you’re not yet in Rwanda, something is still missing. Now is the time, consider Rwanda and Kigali as your hub.” He encouraged them to come to Kigali for the Inclusive FinTech Forum to see Rwanda’s opportunity for themselves, where they can experience both Rwanda’s innovation ecosystem and investment opportunities, in addition to its rich culture and touristic offering. (End)