The National Bank of Rwanda (NBR), on 13 May, hosted the 2nd Edition of the Regulatory Sandbox Demo Day, bringing together regulators, innovators, and financial sector stakeholders to showcase emerging fintech solutions while reflecting on Rwanda’s continued progress in strengthening its digital financial ecosystem.
In his opening remarks, Deputy Governor of the National Bank of Rwanda Nick Barigye highlighted that the platform not only showcases emerging solutions but also creates space for dialogue and feedback, which helps refine ideas and ensure they effectively respond to market needs.
Nick Barigye emphasized the importance of balancing innovation with financial stability and consumer protection, noting that the NBR Regulatory Sandbox offers a structured environment for innovators to test and refine solutions before entering the wider market. He further stressed that the priority is to transform innovation into real impact and ensure that financial inclusion delivers meaningful and practical outcomes for all.
In addition, he pointed out that Rwanda has made notable progress in financial inclusion, which has now reached 93 percent of adults in 2026, largely driven by fintech development and mobile money adoption. However, he also emphasized that, despite this progress, innovation remains largely concentrated in payment systems, indicating the need for deeper financial service diversification.
“Rwanda has made significant progress in advancing formal financial inclusion, reaching 93 percent of adults in 2026, largely driven by FinTech and mobile money. However, while access has expanded, the depth of financial services remains limited, with innovation still largely concentrated in payments.”Deputy Governor Barigye.
Furthermore, the Deputy Governor stressed that the sandbox platform continues to play a crucial role in bridging innovators and regulators, thereby enabling continuous dialogue, feedback, and refinement of ideas in line with real market needs.
Furthermore, Armand Muganga, Business Development Manager at Kigali International Financial Centre, highlighted Rwanda’s steady progress toward becoming a regional FinTech hub. He explained that this progress is being driven by strong collaboration among regulators, policymakers, and ecosystem players, while also pointing to initiatives such as the regulatory sandbox, digital public infrastructure, and cross-border licensing frameworks that continue to strengthen the sector.
Moreover, He noted that the Kigali International Financial Centre is playing a key role in attracting and structuring investment to support ecosystem growth.
Therefore, Esther Kunda, Director General for Innovation and Emerging Technologies at the Ministry of ICT and Innovation, Rwanda, emphasized the importance of building a strong digital foundation for inclusive and scalable fintech development. She further highlighted interoperability, digital awareness, and access to digital tools as essential pillars for advancing Rwanda’s digital economy.
“We are strengthening digital awareness as a foundation for building an inclusive digital ecosystem. At the ministry level, the focus is on real use cases that demonstrate how the ecosystem works in practice. A citizen should not have to choose between platforms; interoperability should ensure seamless, integrated access to services.” She noted.
Esther added that “We are also advancing awareness through initiatives such as the cashless campaign in collaboration with the National Bank of Rwanda. Fintech is a broad ecosystem, and access to digital devices and digital inclusion remain key cornerstones for scaling it effectively.”
This edition showcased Rwanda’s continued progress in strengthening a dynamic fintech ecosystem, reflecting its commitment to innovation, financial inclusion, and digital transformation. It also highlighted ongoing efforts to create an enabling environment where ideas can be tested, supported, and scaled, ultimately contributing to sustainable economic growth and improved access to financial services across the country.
