Microfinance institutions in Rwanda must embrace information technologies if they are to obtain central bank help in managing their financial operations, according to the bank’s governor
National Bank governor Claver Gatete said the country had a long-term plan to develop ICT infrastructure that would boost financial inclusion in Rwanda.
“We want to help our people manage their financial affairs,” said Gatete. “We have a financial inclusion policy and strategy that sets out our approach to promoting financial inclusion.”
He added that the bank has plans to make the country a regional financial hub, hosting major banks and stock exchanges. He said Rwanda was already the only country in East Africa with high quality VISA and MasterCards and Chip and Pin authorisations.
“Rwanda can be a regional financial hub… we can improve the country’s economy by drawing in more financial transactions and businesses,” he said.
The governor made the comments in an address to managers of financial institutions in Eastern Province.