Fintech : Kigali, a hub for financial inclusion in Africa
The capital of Rwanda will host the Inclusive Fintech Forum (FIF) from February 24 to 26, 2025, an annual gathering for all stakeholders in the financial technology industry in Africa. This is an opportunity for Rwanda to confirm its position as the leader of Fintech in Africa.
From February 24 to 25, 2025, Kigali, the capital of Rwanda, will host the 2025 edition of the Inclusive FinTech Forum, the global platform for financial inclusion and FinTech for Good. This summit, bringing together African FinTech leaders, is the result of a partnership between the Kigali International Finance Centre (KIFC), Rwanda’s financial hub facilitating international investments and cross-border transactions in Africa, the National Bank of Rwanda, the Central Bank of Rwanda, and the Global Finance & Technology Network, a company created by the Monetary Authority of Singapore (MAS). They have united to advance FinTech in the digital economy. It is a place for participants (leaders, investors, and FinTechs) to exchange on themes that contribute to improving policies and regulations. They will also seize the opportunity to create meaningful long-term connections and partnerships to advance financial inclusion through FinTech for good.
Rwanda Finance Limited is working to make Rwanda the leader of Fintech in Africa
This forum is held in a country positioning itself as one of the leaders of FinTech in Africa. Indeed, Rwanda, one of the fastest-growing African economies with an average growth rate of 8.6% over the last 10 years, has leveraged this transformation to remain at the forefront of innovation and technology, as well as pan-African integration. This has helped create an investment-friendly environment in the country through the Kigali International Finance Centre (KIFC). To promote and develop KIFC, Rwanda Finance Limited (RFL), a private company, was established to position Rwanda as a top destination for international investments and cross-border transactions in Africa. RFL works alongside KIFC to promote investment, advocate for policies, and improve skills within the sector. This support aims to make KIFC a leading international financial center.
From 2020 to 2024, the number of Fintechs increased from 450 to 1,263
The FIF also provides an opportunity to assess the state of Fintech on the continent, a rapidly growing sector. In fact, in its 2024 report on « Finance in Africa: Unlocking Investment in the Era of Digital Transformation and Climate Transition, » the European Investment Bank (EIB) reveals that « the number of African companies offering new financial products and services has sharply increased, from 450 in 2020 to 1,263 at the beginning of 2024. » According to the EIB, « these fintech companies are enabling populations and businesses on the continent to access better financing. »
Between July 2021 and June 2023, African Fintechs raised 2.7 billion USD
The financial health of Fintech startups is also strong. Indeed, according to a report titled « Finnovating for Africa: Reimagining the African Financial Services Landscape 2023, » published on August 21, 2023, by Disrupt Africa, a platform specializing in African tech ecosystems, « in Africa, between July 2021 and June 2023, Fintechs raised a total of 2.7 billion USD. » « Since June 1, 2015, when Disrupt Africa began tracking investments in the African tech ecosystem, 540 fintechs from 25 countries on the continent have raised a total of 3.63 billion USD, » the report states.
For more information : Inclusive FinTech Forum
