Rwandan central bank governor John Rwangombwa explains how the government's drive to achieve a cashless society will benefit all levels of society by expanding financial inclusivity, increasing tax revenues and boosting grassroots businesses.
Rwanda’s government faces the prospect of aid being cut in the wake of allegations it supports militants across its border in the Democratic Republic of Congo. But finance minister John Rwangombwa is confident the country’s impressive economic progress in recent years will be sustained.
Rwanda’s monetary authorities stood out from their east African peers in 2011 for managing to withstand the severe inflationary pressures buffeting the region. Claver Gatete, governor of the National Bank of Rwanda, explains how this was done and what the country's government is doing to lure more foreign direct investment.
Rwanda’s banks have benefited from the country’s rapid development since its genocide less than 20 years ago. With a high unbanked population and expectations of continued near double-digit economic growth, their rise is unlikely to slow soon. But the banks will have to boost their efficiency quickly if they want their profitability to match that of other east African lenders.