The National Bank of Rwanda (BNR) has raised concern over the growing reluctance by some businesses to accept low-denomination coins, reiterating that all coins remain legal tender.
The issue came to light during the Monetary Policy Committee and Financial Stability Committee press conference held on Thursday, February 19, where a journalist highlighted complaints from citizens who say certain merchants are refusing to accept smaller coins.
ALSO READ: Digital payment fraud cases fell by more than half last year – BNR
According to the concerns raised, some businesses decline Rwf20 coins when customers make cash payments. For example, when a buyer needs to pay Rwf1,170, merchants reportedly reject the Rwf20 coin and instead request Rwf50. In some cases, even when customers provide Rwf50 instead of Rwf20, sellers fail to return the remaining change, leaving buyers at a loss.
Responding to the issue, Chantal Kasangwa, Executive Director for Markets and Banking Operations at the National Bank of Rwanda, acknowledged that the central bank is aware of the challenge. She emphasised that lower-denomination coins remain legally valid and are fully available in circulation.
"I would like to reassure the reporter that the Rwf20 coin is still legally accepted on the market,” she said.
Kasangwa further noted that Rwanda currently has six-coin denominations in circulation: Rwf1, Rwf5, Rwf10, Rwf20, Rwf50, and Rwf100. According to Kasangwa, all remain available in the central bank’s reserves and are intended for everyday transactions.
Kasangwa attributed part of the problem to Rwanda’s growing adoption of digital payments. As more transactions move toward cashless platforms, some businesses are no longer prioritizing stocking small coins for change.
"One of the reasons businesses tend not to accept those coins is that, due to the growing use of technology, a business or salesperson rarely anticipates giving lower denominations as change,” she explained.
"This results in them not going to banks or other financial institutions to request those coins.”
She explained that while digital payments are expanding, cash transactions still occur. When businesses fail to keep coins in stock, it is consumers who bear the inconvenience.
ALSO READ: Central Bank raises key interest rate by 50 bps to reign in inflation
However, while the central bank continues to promote digital payments, Kasangwa pointed out that it plans to simultaneously reinforce awareness around the proper use of coins.
She noted that according to their data, large retailers such as pharmacies and supermarkets are among the few businesses that regularly withdraw coins. However, many other enterprises assume most customers will pay digitally and therefore neglect to obtain smaller denominations from banks or other financial institutions.
"We want to especially encourage big businesses,” she said.
"We will speak with banks to encourage their clients to use coins so that they can reach citizens.”
Digital payment fraud cases decline
Beyond the cash usage, the central bank also highlighted improvements in digital payment security. According to the bank’s officials, reported digital payment fraud cases reduced from about 5,000 in December 2024 to approximately 3,000 in 2025. Mobile money transactions continue to account for the highest number of reported cases.
Moise Bigirimana, BNR’s Acting Executive Director, Financial Sector Development and Conduct, said public education campaigns have played a significant role in reducing cases, particularly Bimamatwi campaigns and cashless payment awareness initiatives aimed at helping users detect and avoid fraudulent schemes.
These campaigns, Bigirimana noted, ensure that financial service consumers remain informed as fraudsters continuously adapt their tactics.