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# Rwanda launches national fintech strategy targeting $200 million investment and 300 companies by 2029
- URL: https://www.theglobalbanker.com/rwanda-launches-national-fintech-strategy-targeting-200-million-investment-and-300-compani/
- Published: 2024-11-29T08:00:00.000Z
- Updated: 2026-09-29T11:32:31.000Z
- Description: The Ministry of ICT and Innovation's five-year plan aims to quadruple the number of fintech firms, reach 80% fintech adoption and create 7,500 direct jobs.
- Author: TGB Editorial Team
- Tags: Fintech, Africa, #archive

Rwanda's Ministry of ICT and Innovation launched the National Fintech Strategy 2024–2029 on 28 November 2024, setting out plans to attract USD 200 million of investment into local fintech firms and to position the country as a leading fintech hub in Africa.

By 2029, the strategy aims to increase the number of fintech companies operating in Rwanda from 75 to at least 300, create 7,500 direct jobs in the sector, achieve an 80% fintech adoption rate and place Rwanda in the top 30 of a global fintech ranking.

"This strategy represents not just a policy document, but our country's commitment to positioning Rwanda as a leading fintech hub in Africa," said Paula Ingabire, Minister of ICT and Innovation. "Our target is ambitious but achievable," she added.

#### FROM THREE FIRMS TO 75

According to the ministry, Rwanda had only three registered fintech companies in 2014 and now has more than 75 active fintech players serving over 3 million people. The government said the plan is consistent with national goals to increase ICT penetration and encourage the use of digital payment systems, and aims to make Rwanda the preferred location for African fintech companies and investment while strengthening its status as a financial centre.

The strategy, approved by the Cabinet ahead of its launch, also envisages standardising fintech licence processing times at three to four months and domiciling 25 investment funds in Rwanda. It focuses on improving financial literacy, access to investment and capital, regulatory guidance and clarity, digital infrastructure, ecosystem collaboration and the talent pool.

The National Bank of Rwanda operates a regulatory sandbox, revised in 2022, which allows innovative financial products and services to be tested in a live environment with real customers for up to 12 months.