Rwanda Fintech Funding Boom: Why Investors Are Backing Rwanda’s Next Wave of Startups
- Rwanda's fintech funding jumped to $38 million in 2023, a sixfold increase from the previous year.
- The government aims to attract $200 million in fintech investments by 2029.
- The Rwanda Digital Acceleration Program (RDAP) has a budget of $200 million to support early-stage startups.
Rwanda's strategic approach to developing its fintech ecosystem through targeted initiatives like RDAP and the Fintech Strategy is commendable. However, the challenges of high intermediation costs and consumer trust must be addressed to sustain this growth and ensure long-term success in attracting global investors.
