Innovation hubs such as Westerwelle Startup Haus, Norrsken House Kigali, and KLab are natural entry points for investors to identify local startups and provide their international portfolio of companies with a proof-of-concept environment to test their innovations. The investment made by these innovation hubs in Rwanda has created a conducive landing pad for global startups.
One of the fastest-growing sectors in Rwanda is fintech. According to the latest Monetary Policy and Financial Stability Statements report by the National Bank of Rwanda (2024), transfers continued to grow during the period under review. The number of funds transfers via mobile payments surged by 57%, reaching 603 million, while their value increased by 49% to FRW 13,001 billion. Transfers through mobile banking saw a 28% volume increase (from 19 million to 24 million) and a 115% value increase (from FRW 2,347 billion to FRW 5,039 billion). Similarly, transfers via internet banking rose by 68% in volume (from 3 million to 5 million) and by 99% in value (from FRW 5,378 billion to FRW 10,697 billion).
Source link : https://www.forbesafrica.com/brand-voice/2024/04/24/innovation-unleashed-transforming-rwandas-financial-landscape/
Author :
Publish date : 2024-04-24 07:00:00
Copyright for syndicated content belongs to the linked Source.