MoneyPhone Africa Ltd, an emerging player in Rwanda’s fintech landscape, is drawing attention for its push to expand financial access to those long left outside the formal banking system.

Founded in 2022 and licensed a year later by the National Bank of Rwanda as a non-deposit-taking financial institution, the Dutch-Rwandan company is leveraging technology to deliver digital financial services to micro, small and medium enterprises (MSMEs) and smallholder farmers.

Its growing footprint did not go unnoticed. On Wednesday, March 11, Prime Minister Justin Nsengiyumva made a stop at MoneyPhone Africa Ltd’s booth during a tour of the Inclusive FinTech Forum (IFF) 2026 exhibition in Kigali, where he was briefed on how the platform is unlocking access to credit for farmers and small businesses across the country.

The platform enables farmers in remote areas to apply for loans through their mobile phones and receive funds in their mobile wallets, removing barriers that have historically limited access to formal financial services, according to the firm.

For the company’s officials, the high-level visit implies recognition of its growing role in Rwanda’s financial inclusion efforts.

"We were really honoured by the time of the Prime Minister, the ministers, the governor and the CEOs,” said Marthe Paauwe, Chief Executive Officer of MoneyPhone. "It validates that we are doing something different and that this approach is being acknowledged.”

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Paauwe said discussions with government officials touched on climate resilience and risk mitigation in agriculture.

"We discussed the climate aspect and how to better assess risks and mitigate them. For example, we have already introduced solar irrigation systems for some of our clients,” she said.

She added that remarks by the Prime Minister on agricultural insurance were particularly relevant to the company’s model.

"The Prime Minister spoke about insurance, which we already integrate into our credit scoring. If a cooperative has insurance, we take that into account.”

According to Paauwe, such discussions help strengthen efforts to improve farmers’ resilience and livelihoods.

"It’s about proving that people who are seen as unbanked are actually bankable if you do it the right way. You can build a sustainable business while creating real impact.”

Paauwe, who has worked in the region for more than two decades, said the company was built with a long-term vision.

"I’ve been in this region for 20 years and I’ve seen many initiatives come and go. Our vision was really to do it differently.”

Digital loans reaching remote farmers

Founded in 2022, MoneyPhone Africa Ltd focuses on providing technology-driven financial services to micro, small and medium enterprises (MSMEs) and smallholder farmers.

The company began operating in Rwanda in 2019 as a Software-as-a-Service (SaaS) provider before becoming a fully licensed non-deposit-taking financial institution in 2023 after approval from the National Bank of Rwanda.

Since then, the company has rapidly expanded its digital lending operations.

"In a little over two years, we have disbursed more than 10,000 loans to 10,000 smallholder farmers across Rwanda, reaching even the most remote districts,” Paauwe said.

The digital lending model allows farmers in 13 agricultural value chains to apply for loans via mobile phones and receive funds in their mobile wallets within about five days.

By removing paperwork, collateral requirements and long trips to bank branches, the system makes access to finance faster, cheaper and safer.

"Farmers no longer need to travel to a bank branch or walk around with cash, which can be dangerous and costly,” Paauwe explained. "And they don’t need collateral because we replace it with data.”

Instead of traditional collateral, MoneyPhone uses AI-driven credit scoring that analyses individual farmer data as well as information from cooperatives, buyers and agricultural markets.

The digital process also lowers costs.

"We remove a lot of the transaction costs because there is no longer a paper-based process, and farmers do not pay a fee to apply,” she said.

Expanding access across value chains

Jean-Paul Mushumba, the company’s Country Director, said MoneyPhone has grown from working with about 30 cooperatives to more than 100 within two years.

During the same period, operations expanded from five agricultural value chains to 13, including beans, maize, potatoes, onions, tomatoes, coffee, avocados, fish and chillies.

"We only work with cooperatives in value chains after we assess risks and potential impact,” Mushumba said.

Potato farmers in Rwanda’s Northern and Western provinces currently show some of the strongest loan performance, while maize farmers are mainly concentrated in the Eastern Province.

Loan sizes have also increased as farmers build credit histories.

"Earlier farmers could only access up to Rwf500,000, but now loans can reach Rwf2 million, and in the coming years we aim to increase that to Rwf5 million,” Mushumba said.

Bridging the agriculture financing gap

Agriculture contributes about 25 to 27 per cent of Rwanda’s GDP and employs between 40 and 70 per cent of the population. Despite its importance, the sector receives only about 7 per cent of total bank lending.

MoneyPhone’s model aims to help close this financing gap by improving farmers’ access to credit.

Before the company’s intervention, only about 8 per cent of farmers in its network had access to bank loans.

The platform has also expanded financial inclusion among women and young people.

"Among those we serve, about 24 percent are youth and 44 per cent are women,” Paauwe said.

The company says its services now reach around 43,000 households in Rwanda’s rural economy.

Impact on incomes and jobs

Beyond improving financial access, the company says the loans are helping farmers increase productivity and incomes.

"We connect farmers not only to finance but also to quality inputs and markets,” Paauwe said.

According to company data, farmers using the platform have reported doubling or even tripling their incomes.

The impact also extends to employment in rural communities.

"We have seen that each loan creates around four jobs in the rural economy,” Paauwe added.

These jobs include seasonal labour, logistics, produce aggregation and processing activities within agricultural value chains.

Technology at the core

The company relies on data analytics, algorithms and artificial intelligence to assess farmers’ creditworthiness and tailor loan products.

By analysing seasonal production patterns and market demand, the system can adjust loan sizes and repayment schedules to suit each farmer’s specific needs.

For example, Mushumba said the financial needs of a chilli farmer in Kayonza District may differ significantly from those of a tea farmer in Karongi District, requiring different loan structures.

According to Mushumba, the company works closely with agricultural exporters to help farmers meet international market standards and increase production.

Some farmers have also moved further up the value chain by investing in processing equipment, allowing them to sell higher-value products in global markets.

For Paauwe, the government’s recognition reflects growing confidence in solutions that deliver measurable results.

"In a little over two years, we have disbursed more than 11,000 loans to thousands of smallholder farmers and agri entrepreneurs across Rwanda, reaching even the most remote districts,” Paauwe said.

"We have found a model that works to drive rural economic transformation.”

About MoneyPhone Africa

MoneyPhone Africa is a non-deposit taking financial institution based in Rwanda. It provides micro loans to the agricultural sector and small enterprises.