Rwanda, Kenya sign deal to make cross-border payments easier

The National Bank of Rwanda (BNR) and the Central Bank of Kenya have signed the Kigali Declaration on Fintech License Passporting, a move expected to make it easier for payment service providers and fintech companies to operate across both countries. The agreement was signed by BNR Governor Soraya Hakuziyaremye and Gerald Nyaoma, Deputy Governor of the Central Bank of Kenya, on Wednesday, March 11, on the sidelines of the Inclusive FinTech Forum 2026. ALSO READ: PM Nsengiyumva: Africa must build independent financial systems The deal aims to reduce regulatory barriers and allow licensed fintech firms in one country to expand services into the other without undergoing a full licensing process again, strengthening cross-border digital payments and financial integration in the region. “This marks an important achievement in our collective efforts to strengthen financial integration and enhance the digital payments ecosystem in our region,” Hakuziyaremye said. She noted that the initiative builds on earlier progress, particularly the approval of license passporting arrangements with the Bank of Ghana in February 2025. ALSO READ: Rwanda, Ghana launch new cross-border payment infrastructure According to her, the passporting framework will help foster innovation, increase competition, and expand digital payment services across borders. She added that the initiative aligns with broader regional and continental integration goals, including the East African Community payment systems integration agenda and the objectives of the African Continental Free Trade Area (AfCFTA). “This framework is designed to be scalable and open to participation by other central banks across Africa. By expanding the initiative, we can collectively reduce regulatory limitations, support trusted payment providers to expand across borders, and accelerate the development of a more integrated digital payments ecosystem.” Nyaoma said payment service providers often operate across regions but still have to obtain multiple licences, even when regulatory requirements are similar, which increases costs and slows innovation. ALSO READ: What license passporting to Ghana means for Rwandan fintechs “The passporting framework signed today is an important step toward addressing this challenge once the joint technical committee under the memorandum of understanding develops the necessary technical and administrative arrangements,” he said. He also pointed to global examples, noting that similar passporting frameworks in regions such as the European Union have enabled financial institutions licensed in one country to provide services across multiple markets. “The deal will support payment service providers and fintech companies to thrive, as we have seen in other jurisdictions around the world.”

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Rwanda, Kenya sign deal to make cross-border payments easier