Rwanda Fintech Funding Boom: Why Investors Are Backing Rwanda’s Next Wave of Startups
Rwanda’s fintech sector is growing fast, with funding jumping six times to $38 million in 2023. The government has ambitious goals: attract $200 million in fintech investments by 2029, grow from 75 to 300 fintech companies, and increase the sector’s GDP contribution from less than 1% in 2024 to 4% by 2029. Two key initiatives are driving this growth:
Rwanda Digital Acceleration Program (RDAP): A $200 million program supporting early-stage startups with non-dilutive funding, digital infrastructure, and training for millions of users.
Fintech Strategy 2024–2029: Focused on scaling fintech companies with tax incentives, faster licensing, and partnerships like license passporting with Ghana.
These programs are already showing results, with startups like Kayko and DoctorAI securing funding and scaling operations. Rwanda’s clear regulations, tax benefits, and supportive ecosystem are attracting investors and positioning the country as a fintech hub in Africa.
