The rollout of internet banking services across Umurenge Savings and Credit Cooperatives (U-SACCOs), including a dedicated mobile application and online banking platform is expected by December 2026, according to the Ministry of Finance and Economic Planning (MINECOFIN). The development builds on earlier milestones, including the automation phase completed in 2024 under the Umurenge SACCO Automation and Consolidation Project. ALSO READ: Automation of Umurenge SACCO operations enhances service delivery “These platforms will extend digital access beyond USSD services, allowing members with smartphones and internet connectivity to manage accounts electronically,” information obtained by The New Times from the ministry indicates. MINECOFIN confirmed that the cooperatives have been consolidated into 30 District SACCOs (D-SACCOs), a process finalised in February 2026. All D-SACCOs are now operating on a shared core banking system. As part of the next phase, internet banking and a dedicated mobile application are set to be introduced by December 2026. ALSO READ: Umurenge SACCOs fully automated paving way for creation of Rwanda’s cooperative bank The digitisation of U-SACCOs is anchored on three pillars: full automation of cooperatives, consolidation into district-level D-SACCOs, and the establishment of a Cooperative Bank to serve as an apex financial institution. MINECOFIN is implementing the reforms through the Umurenge SACCO Automation and Consolidation Project, in line with the Government’s broader financial inclusion agenda. The first phase involved automating all 416 U-SACCOs nationwide, completed in 2024 and achieving 100 per cent coverage. The second phase consolidated these cooperatives into 30 district-level SACCOs under a unified structure. ALSO READ: Umurenge SACCOs in the age of mobile finance: Is mobile money adoption signalling a turning point? Since the consolidation was finalised in February 2026, all D-SACCOs have been operating on a shared core banking system developed entirely by Rwandan consultants. According to MINECOFIN, the system complies with international standards as well as national banking, IT, and cybersecurity regulations. At branch level, perimeter defence mechanisms have been put in place to protect networks against cyber threats. The system enables real-time transaction processing and instant SMS notifications to customers across the network, which serves approximately four million registered members. Mobile banking through USSD technology is now operational in 93 per cent of District SACCOs, with full nationwide coverage expected by early May 2026. To date, 68,831 members are actively using mobile phones to access SACCO services. The mobile banking journey began in May 2023 with a pilot in selected SACCOs in Rutunga and Nyarugenge sectors, as well as in Musanze and Gicumbi districts. The pilot attracted 19,395 subscribers. Following consolidation into D-SACCOs, onboarding expanded steadily. In January 2026, shortly after consolidation, 1,102 new subscribers joined the platform. The number rose to 9,492 in February, 22,682 in March, and 16,205 in April. In terms of usage, withdrawals conducted via mobile phones have reached approximately 286,000 transactions, amounting to Rwf16.6 billion. Deposits total around 167,000 transactions valued at Rwf23 billion. Combined, this represents nearly 453,000 mobile transactions worth close to Rwf40 billion since rollout—conducted without members visiting a branch. District SACCOs are also being connected to the Rwanda Integrated Payments Processing System (RIPPS), which will enable customers to send and receive money across the wider banking sector and within the entire D-SACCO network. The integration is currently being piloted in the City of Kigali before a nationwide rollout. Another planned development is the introduction of inter-district transactions, allowing members to transact across different District SACCOs regardless of location, significantly enhancing convenience and financial mobility. Beyond internet banking, the third phase of the reform programme will focus on establishing a Cooperative Bank to act as an apex service provider to District SACCOs and their members. This phase will include assessing an appropriate business model, clearly defining the operational scope between the Cooperative Bank and D-SACCOs, and building strategic linkages to ensure sustainability without undermining the viability of individual SACCOs. The rollout of agency banking and further system integrations will follow, cementing Rwanda’s financial cooperative sub-sector as a fully digital, nationally connected ecosystem.
