Author: Sam K. Nkurunziza

This initiative aims to support innovation in financial services while ensuring careful regulation to prevent potential risks.

CMA notes that, given the rapid pace of technological advancements globally, the financial sector in Rwanda stands to benefit immensely from these innovations. However, the Authority warns that without proper regulation, such technology could bring about unforeseen challenges.

Jerome Ndayambaje, a specialist in technology and innovation at CMA, spoke about the potential for the market to evolve over the next five years, driven by Fintech developments.

He highlighted how innovations could improve the efficiency of financial services, speed up processes, and extend access to a broader audience.

Key issues under discussion include whether Fintech can foster a savings culture, simplify investment processes, and facilitate easier access to financial products in the capital markets. More so, there’s a question of whether these technologies can assist the private sector and government in raising capital for business expansion.

The ‘Fintech Regulatory Sandbox’ is designed to help in trial financial technologies with a small group of users over a set period (usually one year) to assess their viability and impact before scaling them up.

Ndayambaje explained that this testing phase ensures that emerging technologies address existing challenges and do not cause harm to investors or the financial market.

By offering a controlled environment for experimentation, the sandbox helps in understanding the operational dynamics, benefits, and risks of new technologies. Successful innovations that demonstrate value and mitigate risks are then granted permission to operate within the broader market.

The CMA introduced this program in 2023 to provide a platform for companies in the financial technology sector to test their innovations and services, fostering Rwanda’s goal of becoming a hub for financial technology and investment.

Ndayambaje stated that this initiative aligns with Rwanda’s ambition to become a leading center for both investment and financial technology in the region.

The sandbox also serves as a platform for technology companies to expand both within Rwanda and internationally, offering a conducive environment for growth. It helps establish a culture of saving and investing, enhances service delivery, and ensures broader access to financial products for all Rwandans.

However, challenges were noted by participants in the sandbox, particularly in integrating their technologies with those of various stakeholders in the financial sector.

CMA considers these challenges manageable through continued awareness campaigns and collaboration with key partners during the testing phase.

The ‘Fintech Regulatory Sandbox’ is a critical step toward modernizing Rwanda’s financial market, improving access to capital, and facilitating financial inclusion across the country.

He explained that the change comes after it was observed that some students were graduating without sufficient knowledge, while others lacked opportunities to pursue studies at international universities.

According to him, the decision was made after receiving complaints from employers about the quality of education, as some graduates lacked essential skills.

“Students and employers continued to tell us that the three-year program left students without fundamental knowledge. While we tried to adopt a model similar to that of universities in neighboring countries like Uganda and Kenya, where undergraduate programs are three years long, our assessments showed that this approach was not yielding the expected results,” Muganga said.

“We initially reduced the duration to three years due to the influence of neighboring countries, where universities offer three-year undergraduate programs. However, in Rwanda, the debate has continued on whether this program would produce graduates with the skills required by the labor market,” he added.

In 2017, UR had reduced the study duration for various programs from four years to three years. However, after five years of implementing this shorter program, the university decided to revert to the original four-year structure for all faculties.

Muganga emphasized that students should complete a minimum of 16 years of education before finishing their undergraduate degree, which includes six years of primary school, six years of secondary school, and four years of university.

Following the first cohort of students graduating from UR in 2020, research conducted with various stakeholders, including employers, teachers, and students, revealed that there were challenges with the three-year program.

The university believes that a four-year program will better equip students with the necessary knowledge in their fields of study, enhance their research skills, and prepare them to favorably compete on the job market. This change is also expected to improve students’ competitiveness both domestically and internationally.

“Education is a continuous process. As a university, we want to ensure that our programs align with international standards, offering a high-quality education that meets the global market demands,” Muganga noted.

Senator Prof. Telesphore Ngarambe highlighted the importance of adhering to the designated study period in university programs, arguing that the three-year model often did not allow students to fully grasp the required content. He stressed that a three-year program forces students to cover a vast amount of material in a short period, often compromising the depth of their learning.

Dr. Rose Mukankomeje, the Director-General of the Higher Education Council (HEC), recently informed lawmakers that some students missed opportunities to study at international universities because they had completed only three years of study.

“A student is typically required to complete 480 credits to earn an undergraduate degree. This means that over four years, a student should accumulate at least 100 credits per year. In three years, it becomes challenging for students to meet this requirement, which negatively impacts their chances of acceptance at international universities,” she said.

On the other hand, teachers have pointed out that the three-year study period made it difficult to cover the necessary course material and provide students with the knowledge required for success in the job market.

The facility, poised to help ensure helmets used by motorbike and moped riders meet national safety standards, has been established with support from the Fédération Internationale de l’Automobile (FIA).

Located at the Rwanda Standards Board (RSB), the laboratory enables conformity assessment of helmets based on the RS 576: 2024 Protective helmets for motorcycle and moped users – Specification, reinforcing the country’s commitment to road safety.

The launch, attended by over 200 participants was officiated by the Minister of Infrastructure Dr. Jimmy Gasore, FIA President Mohammed Ben Sulayem, and FIA Foundation Chairman David Richards.

It featured a guided tour of RSB’s testing laboratory, live demonstrations on proper helmet usage, and insightful discussions on the critical role of safety standards in the transport sector.

At the official launch, Minister Gasore said this laboratory will strengthen the country’s commitment to road safety by ensuring helmets meet quality standards.

“It’s a critical step in protecting lives and reducing road accidents. By collaborating with the FIA and the FIA Foundation, we are not only enhancing safety measures but also reinforcing Rwanda’s position as a leader in promoting sustainable and responsible mobility,” he said.

FIA Foundation Chairman, David Richards CBE noted that the launch of Africa’s first-ever helmet testing facility marks a significant milestone in the continent’s efforts to combat the rising number of motorcycle crash deaths and injuries.

“The FIA Foundation is proud to have supported the Tuwurinde Project in collaboration with local NGOs, government partners, and international development agencies,” he said

He appreciated Rwanda’s efforts in introducing helmet standards and the new regulation to assess the quality of new helmets demonstrates a bigger commitment of adopting best practices in the region.

“This initiative is an important blueprint for other countries across the region, and the world, who are looking for ways to adapt and manage their rising motorcycle fleet,” he emphasized.

As part of the activities embroiled in the 2024 FIA Annual General Assembly underway in Kigali, the Rwanda Automobile Club announced plans to donate 5,000 certified helmets across Rwanda alongside an education program for over 10,000 riders.

In the same regard, FIA President, Mohammed Ben Sulayem revealed that safety is at the heart of the FIA stands and expressed delight to witness the work taking place here in Rwanda.

“As a Federation, we are at the forefront of safety innovation and it is important that we continue working closely with our global communities to improve road safety outcomes,” he said.

On his part, Rwanda National Police Spokesperson, ACP Boniface Rutikanga, expressed optimism on the development.

“Road safety remains a priority, and initiatives like ‘Safe Helmet’ play a vital role in protecting lives. We are committed to working alongside RSB and FIA Foundation to ensure all taxi-moto riders in Rwanda have access to certified helmets, contributing to safer roads for everyone.”

On behalf of the Association of Taxi-Motos, Emmanuel Munyurangabo, pledged commitment as people at the front lines of road transport.

“Access to quality helmets not only ensures their safety but also enhances public confidence in using moto-taxis. We fully endorse this initiative and will advocate for its widespread adoption,” he said.

The helmet testing facility launch and donation from the FIA follows the introduction of Rwanda’s first motorcycle helmet standard regulation which was published in 2024. Head trauma is the leading cause of death for motorcycle riders, who make up a third of Rwanda’s road deaths.

Safe, quality helmets reduce the risk of death by over six times and brain injury by up to 74%, according to the World Health Organization. Other Tuwurinde project include UNRSF, UNECA and UNECE.

In a speech delivered to both chambers of the DRC Parliament on December 11, 2024, Tshisekedi acknowledged that the country’s development efforts are under threat with the ongoing insecurity.

He out rightly accused Rwanda of supporting the M23 group, which has been operating since November 2021, and of continuing to control territories such as Rutshuru, Masisi, Nyiragongo, and Lubero, causing mass displacement of civilians.

Rwanda has repeatedly dismissed the accusations as baseless, instead blaming the DRC’s military of collaborating with the Democratic Forces for the Liberation of Rwanda (FDLR) remnants of perpetrators of the 1994 Genocide against the Tutsi.

President Tshisekedi reiterated his position in late 2023, declaring his intent to take military action against Rwanda if M23 fired at the city of Goma, and even suggested offering support in ousting President Paul Kagame from office.

Despite Tshisekedi’s claims of military success, the M23 rebel group has continued to expand its positions in North Kivu, capturing new territories in Walikale in October 2024 and gaining ground in Lubero, including areas of Kaseghe and Mathembe.

The Congolese Head of State commended the efforts of his armed forces, the Wazalendo militia, and the support of the Southern African Development Community (SADC), which deployed additional troops to the North Kivu region for one year.

Tshisekedi also hailed the role of Angola in the ongoing peace talks, led by President João Lourenço as the mediator appointed by the African Union, which has been facilitating dialogue between Rwanda and the DRC since 2022.

Despite support for peace talks in Angola, Tshisekedi expressed skepticism, stating that he does not see negotiations as the sole solution. He emphasized the importance of military reforms, which he initiated in 2023 to improve the effectiveness of the DRC’s armed forces.

President Tshisekedi’s message comes ahead of the scheduled Luanda talks on December 15, 2024, where he is expected to meet with his Rwandan counterpart Paul Kagame with Angola’s João Lourenço as the host.

The outcome of these discussions remains uncertain, as both countries remain at crossroads over the situation in Eastern DRC.

The dam, whose construction began in 2011 and was completed after nine years, cost $5 billion and has the capacity to generate 5.15 gigawatts of electricity, placing it among the top 20 largest dams in the world. its the biggest in Africa.

The ongoing dispute involves countries like Egypt, Ethiopia, and Sudan. Ethiopia argues that the dam will provide electricity to around 60% of its population, who currently live without power. However, Egypt fears that the dam will reduce the flow of the River Nile, which is crucial to its water supply and economy.

Ethiopia maintains that neighboring countries, including Sudan, will benefit from cheaper electricity, and Sudan itself is expected to see significant economic growth by 2060 through the agricultural sector.

Researchers predict Sudan’s GDP could reach $84 billion by that time, thanks to the economic benefits brought by the dam. Other countries, such as South Sudan, Kenya, Djibouti, and Eritrea, are also keeping a close eye on the project.

Egypt has warned that even a 2% reduction in Nile water would leave over 80,000 hectares of irrigated land dry, causing a significant decline in agricultural output.

Since construction began in 2011, the United States, Saudi Arabia, and the United Arab Emirates have tried to mediate negotiations, but these efforts have been futile. Ethiopia was initially prohibited from filling the dam, but it went ahead and began storing water.

On December 7, 2024, during the COP16 climate conference in Riyadh, Saudi Arabia, Egypt’s Minister of Water Resources, Hani Sweilem, highlighted the lack of negotiations between the parties before building the dam, warning that the failure to reach an agreement could lead to tensions, economic impacts, and environmental damage.

Sweilem stressed that Egypt was acting in its own national interest and called on Sudan to join in preventing any action that could harm the Nile River. He also emphasized Egypt’s commitment to supporting Sudan in water management initiatives.

Sudanese officials, including Dr. Mona Ali, the Secretary-General of the Sudanese High Council of Environment and Land, acknowledged the negative environmental impact of the dam, particularly in terms of water shortages.

Both ministers agreed on the importance of resolving water-related issues and called for further research into the environmental, economic, and broader impacts of major water projects to ensure that the rights of countries sharing water resources are respected.

Industry leaders gathered to discuss the ongoing impact of solar-powered, rechargeable head torches and mini-grids on mining operations for different mining companies countrywide.

The Illuminating Small-Scale Mining in Rwanda (ISMR) project, led by PACT-Rwanda, is driving the adoption of these sustainable energy solutions as part of broader global efforts to promote resilience and social impact across various sectors, including public health, governance, and energy.

James Mcquilken, the Global Director of Responsible Mining at PACT, explained that the initiative, which began four years ago, aims to bring artisanal miners up to the same occupational health and safety standards as larger mining operations.

“Small-scale miners should have access to safe and decent working conditions. When we visited mines in Rwanda, miners were using handheld torches with poor lighting. This contrasts with the well-lit tunnels of large-scale mines, which use rechargeable head torches. We decided to introduce this technology to improve safety and productivity,” Mcquilken said.

Over the past year, the project has introduced solar-powered head torches and mini-grids at several partner mines. These changes aim to address the challenges faced by miners, particularly the high costs and environmental damage caused by traditional battery-powered torches.

“By providing miners with access to solar energy, we are not only improving working conditions but also reducing their reliance on expensive and environmentally harmful power sources,” he noted.

Moise Mutabazi, the Country Director of Pact Rwanda, highlighted the positive outcomes of the project, which include significant cost savings for small scale miners.

“Miners have saved up to 70% bills saving due to mini grid solar instalation. This has led to greater efficiency in their work, as they can now afford the electricity needed for their operations without overburdening themselves financially,” he said.

One of the key challenges affecting miners in Rwanda is access to finance where to support the adoption of renewable energy solutions, partnerships have been formed with financial institutions like Equity Bank Rwanda. Financial literacy training for miners has been critical in ensuring that they can afford these technologies.

The project’s focus on gender inclusivity has also garnered attention. Empowering women-led mining operation through the introduction of solar energy has not only improved working conditions but also empowered female miners.

Polcarpe Nshimirimana, Senior Program Manager at the ISMR project, says that gender equality is a central component of the initiative.

“We cannot afford to leave women behind in this sector. This project has not only provided access to better lighting but also promoted gender equality in the mining sector as a whole,” he said.

The Rwanda Mining Board has also played a key role in ensuring that the initiative aligns with national mining policies. Discussions with the Rwanda Mining Board are underway to scaling these changes to other mining operations across the country.

Donat Nsengumuremyi, the Mining Extraction and Inspection manager at Rwanda Mines, Petroleum and Gas Board (RMB) acknowledged that the imitative is a good move in the right direction.

“Through such forums, we get more acquainted on what has been achieved, discuss the best practices and forge a way forward,” he said.

The major focus is to provide miners with the tools and knowledge needed to operate more sustainably while maintaining the financial viability of their businesses. As the sector shifts toward renewable energy, the goal is not just to improve working conditions but also to set a precedent for responsible mining practices across the region and beyond.

At the heart of this transformation is GS Paysannat LE, located in the Mahama Refugee Camp, where both refugee children and local Rwandan students are benefiting from this digital revolution.

The tech-driven learning program, launched in 2021, is part of a broader effort by the Rwandan government, in collaboration with international partners like the UNHCR, World Vision International, and ProFuturo, a Spanish-based organization.

The initiative aims to bring digital learning to schools in districts like Kirehe, Gatsibo, Nyamagabe, Gisagara, Karongi, and Gicumbi.

Currently, the program reaches 15 schools near refugee camps, benefiting over 16,000 students, including both refugee and Rwandan children in grades 4 to 6. The program provides students with tablets loaded with educational software, offering them a unique opportunity to learn in ways that were not possible before.

More than 500 teachers have been trained to use these digital tools, enhancing their teaching methods and improving student engagement.

Ange Brinella Ishimwe, a Grade 6 student at GS Paysannat LE, shared how the use of technology has transformed her learning experience.

“Before, teachers would write on the board, and sometimes it was hard to understand. But with tablets, we can see visual explanations of the subjects. We use them for Kinyarwanda, English, Mathematics, Science, and Social Studies,” she said.

Nick Rafael Ishimwe, another Grade 6 student, added, “When we used to take tests on paper, it would take weeks for the teacher to grade them. Now, we take the tests on the tablet, and we see our results immediately. It makes learning more effective.”

Teachers have also noticed improvements in how students are engaging with lessons. Vincent Nibitura, a mathematics teacher, explained that the use of technology has made it easier for him to track students’ progress.

“I prepare exercises on the computer, and each student can access them right away. After completing the exercises, they are graded instantly. This allows me to see who is making progress and who needs help,” he says.

The use of technology has also had a positive effect on student motivation. “When I tell the students that we will be using technology, no one wants to miss class. They are excited to engage with the tools,” said Nibitura.

Since the introduction of the program in 2022, academic performance has improved. “The first sign of success is when a student powers on the device, logs in, and starts learning on their own,” said Alex Ntamunoza, the school’s director.

“Last year, 57 students graduated from primary school, and all of them passed. Ten of them received confirmation to continue their studies at secondary schools,” he reveals.

Despite the program’s success, there are still challenges, particularly with the number of tablets available. “In Grade 6, there are four classrooms with tablets, but only 96 tablets for the entire school. We hope to get more so that every student can benefit,” Ntamunoza said.

The ProFuturo program has equipped the schools with tablets containing Rwanda’s national curriculum, along with computers and other technological tools. Three computer labs have been built in Mahama, Nyabiheke, and Kiziba refugee camps, and teachers have received training on how to use these tools to enhance their teaching methods.

This tech-driven learning program is not only improving education for refugee children but also fostering integration between refugees and the local population.

Through these digital tools, students are gaining the skills necessary to succeed in a digital world, while also helping to bridge the gap between refugee and local communities. With continued support, this initiative has the potential to provide every child in Rwanda, regardless of their background, with a brighter, tech-enabled future.