Rwanda: rapid economic policy changes to further the digitisation agenda

Rwanda: rapid economic policy changes to further the digitisation agenda

May 19, 2020 | Sector: Public sector
On May 19, the National Bank of Rwanda (BNR) instituted a set of rapid economic policy changes to support both businesses and individuals during the lockdown, and to further the national digitisation agenda. These decisive measures lasted three months, and they included:

  1. Zero charges on all transfers between bank accounts and mobile wallets
  2. Zero charges on all mobile money transfers
  3. Zero merchant fees on payments for all contactless point-of-sale (via mobile) transactions
  4. An increase in the limit for individual transfers using mobile money wallets, from RWF 500,000 to RWF 1,500,000
Government of Rwanda