The Growth of Digital Payments in Rwanda

On May 27, 2022, the Government of Rwanda, led by the Ministry of ICT and Innovation (MINICT), Ministry of Finance and Economic Planning (MINECOFIN), Ministry of Trade and Industry (MINICOM), and the National Bank of Rwanda, launched the "Twagiye Kashiresi" campaign. This initiative aims to accelerate the adoption and use of responsible digital payments in every household to further the transition from cash to a digital economy. The Twagiye Kashiresi campaign emphasizes the importance of using digital payments for everyday expenditures. Yves Iradukunda, the Permanent Secretary of the Ministry of ICT & Innovation, highlighted that "The usage of digital payments for everyday expenditures brings better business efficiency, eases access to finance, and mobilizes national resources for everyone's benefit." This initiative towards digital payments is pivotal in strengthening Rwanda's economy and ensuring widespread benefits for all Rwandans.

Rwanda's commitment to technological innovation and digitalization is evident in its national strategies and policies. The government has launched various initiatives, such as the Smart Rwanda Master Plan and the National Financial Inclusion Strategy, to promote digital financial services and reduce reliance on cash. These efforts have created an enabling environment for the growth of digital payments, leading to increased adoption across the country. Mobile money services, provided by operators like MTN Mobile Money and Airtel Money, have been instrumental in this shift. As the country strides towards becoming a digital economy, the shift from cash-based transactions to digital payments is pivotal in fostering economic growth, enhancing financial inclusion, and improving the overall quality of life for Rwandans.

For additional information on Rwanda's digital payment initiatives, refer to the Ministry of ICT and Innovation's report.