Africa’s fintech revolution is no longer a prediction—it is happening now. With mobile money transactions surpassing $800 billion in 2023, fintech is transforming economies and redefining financial access across the continent. As investment capital continues to gravitate toward a handful of dominant hubs, Rwanda is emerging as a dynamic new fintech destination, poised to attract global investors. Fintech in Africa: The landscape is changing Fintech has become one of the continent’s fastest-growing sectors, offering financial services to millions who previously lacked access to traditional banking. According to the BDO 2024 Fintech in Africa Report, Africa’s fintech market is projected to reach $65 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 32% (BDO, 2024). However, investment trends are shifting, with funding for African FinTech’s declining by 37% from 2022 to 2023 and dropping another 51% in early 2024 (McKinsey, 2025). Investors are now prioritizing profitability and scalability over rapid expansion. More importantly, fintech is bridging the financial gap for millions of Africans previously excluded from formal banking systems. With traditional banking infrastructure still underdeveloped in many regions, fintech solutions provide a lifeline for individuals and businesses seeking seamless digital financial services. A prime example is MoMo and M-Pesa, which have revolutionised digital finance in Africa. These platforms have evolved beyond just facilitating payments for goods and services—they now offer savings accounts, access to credit, and instant microloans, empowering millions to participate in the formal economy and fostering greater financial inclusion. This presents a unique opportunity for Rwanda—a country that has methodically built the necessary regulatory frameworks, infrastructure, and business-friendly environment to support fintech growth. Why Rwanda is the future of Fintech investment Rwanda’s rapid digital transformation and strategic government initiatives make it an attractive destination for fintech investors. The Rwandan Development Board (RDB) and the Kigali International Financial Centre (KIFC) are leading efforts to make the country a regional financial hub. Rwanda has established clear, fintech-friendly regulations that support innovation while ensuring consumer protection. Unlike many African markets where regulatory uncertainty can stall expansion, Rwanda’s five-year National Fintech Strategy prioritizes attracting capital, streamlining regulations, and enhancing financial inclusion. This proactive regulatory approach provides the stability that investors seek when entering new markets. The country’s strategic position in East Africa, along with its participation in the African Continental Free Trade Area (AfCFTA), makes Rwanda a gateway for fintech companies looking to expand across borders. By offering seamless access to regional markets, Rwanda enables fintech firms to scale their solutions beyond national boundaries, making it an ideal hub for companies seeking cross-border expansion. Rwanda is also well-equipped for digital finance innovation. With high mobile penetration and strong digital infrastructure, the country provides the necessary foundation for fintech solutions to thrive. The eKash platform, adopted last year, enables instant payments across multiple financial institutions and fintech operators in Rwanda. Mobile money adoption has surged, fostering a cashless economy that fintech firms can leverage. Additionally, MoMo has unlocked cross-border transactions, resulting in more affordable remittance solutions for consumers. A key factor driving fintech growth in Rwanda is its young, digital-first population. With 67% of the continent’s population under 30, Rwanda’s digitally savvy demographic presents an untapped, long-term consumer base for fintech innovations (Business Insider Africa, 2024). This demographic advantage ensures a sustained demand for digital financial services, positioning Rwanda as a prime destination for fintech investments. Inclusive Fintech forum (IFF 2025): The opportunity for investors The Inclusive Fintech Forum (IFF 2025), underway in Kigali brings together global policymakers, investors, and fintech leaders to discuss financial inclusion, cross-border digital payments, and fintech scalability in Africa. For investors looking to tap into Africa’s booming fintech sector, IFF 2025 presents a crucial entry point to explore Rwanda’s opportunities firsthand. The event will facilitate discussions on license portability, cross-border digital public infrastructure, showcase innovators in the fintech space such as solutions in insurance, agriculture and savings sector and venture capital investments in the region. Why investors should look to Rwanda now Fintech in Africa is at an inflection point. As investors become more selective, the next wave of growth will be driven by markets that provide regulatory certainty, infrastructure, and cross-border opportunities. Rwanda is that market. With strong government backing, a business-friendly environment, and a clear vision for fintech growth, Rwanda is no longer just an emerging fintech hub—it is the next big investment destination. Investors seeking high-growth opportunities in Africa’s fintech revolution should look no further. Rwanda is open for business. Leila Rwagasana is the Fintech Lead at Rwanda Finance Limited (RFL) while Fred Mutsinzi is a Strategic Advisor – Venture Capital Innovation and Technology, Tony Blair Institute (TBI)
