The survey, which included a working group of ten central banks from Europe, Africa, Latin America and Asia managing roughly US$6.5 trillion in assets, found that over 60% of respondents said they are not using AI for central banking’s core functions. Instead, AI is mostly used for routine analytical tasks, such as summarizing data or scanning markets.
According to the report, the institutions most engaged with AI were also among the most cautious; many expressed concern that AI‑driven decisions could “accelerate future crises.” As one participant was quoted saying: “AI helps us see more, but decisions must remain with people.”
On the issue of digital assets, the survey showed that 93% of the central banks do not invest in them. While tokenization is viewed with interest, cryptocurrencies are approached with caution.
Regarding reserve currencies, the survey indicated a shift among some central banks toward a more multipolar reserve system. Nearly 60% of the institutions signalled a desire to reduce reliance on the U.S. dollar.
Despite this, the unmatched liquidity of U.S. Treasuries remain a strong anchor, meaning the dollar continues to dominate global reserves.
The findings suggest that, for now, many central banks prefer a cautious, risk‑averse approach when it comes to adopting new technologies and shifting reserve practices.
The report was officially launched on Friday, October 31, 2025, at Kigali Serena Hotel, in a ceremony attended by senior government officials, parliamentarians, diplomats, development partners, civil society representatives, and the media.
The Rwanda Governance Scorecard, produced annually by the Rwanda Governance Board (RGB), remains the nation’s flagship tool for measuring progress in governance, accountability, and service delivery.
{{Strong performance in safety, inclusion, and rule of law
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The Safety and Security pillar remains Rwanda’s highest-performing area with a score of 90.02%, reaffirming the country’s reputation as one of Africa’s safest nations. The report attributes this to consistently high citizen confidence in the Rwanda Defence Force, National Police, and local security structures.
Participation and Inclusiveness ranked second with 86.31%, reflecting broad citizen involvement in public affairs, effective decentralisation, and gender-balanced leadership. The report notes that power sharing and inclusiveness scored a full 100%, while gender equality in leadership reached 82.42%.
Political Rights and Civil Liberties followed with 82.71%, supported by strong results in democratic rights and freedoms (86.36%), respect for human rights (84.11%), and access to public information (81.77%).
The Rule of Law pillar achieved 81.63%, indicating continued public trust in justice institutions. The report highlights high scores in performance of the legislature (90.44%), though it identifies challenges such as case backlogs (50.85%) and limited digitalisation, with only 11% of government services fully automated.
{{Governance integrity and accountability
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Under the Anti-Corruption, Transparency, and Accountability pillar, Rwanda scored 79.25%, driven by transparency (92.35%) and accountability (80.39%). The report acknowledges sustained institutional integrity but notes that anti-corruption mechanisms (67.9%) and training of committees in public and private institutions remain areas for improvement.
The Economic and Corporate Governance pillar scored 74.84%, showing sound macroeconomic management (72.75%) and steady progress in corporate governance (77.67%). However, the report points to weaker results in exports of goods and services (47.95%), credit to the private sector (57.75%), and savings rate (60.23%).
The Quality of Service Delivery pillar registered 71.73%, showing advances in ICT-enabled services (66.9%) but emphasising the need to accelerate full digitalisation, with only a small fraction of services end-to-end automated.
The lowest-performing pillar, Investing in Human and Social Development, stood at 64.69%. The report notes continuing progress in health (74.14%) and education (65.65%), but identifies gaps in nutrition, social protection, and climate resilience, highlighting these as priority areas under the National Strategy for Transformation (NST2).
{{A renewal of Rwanda’s commitment to good governance
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Opening the event, Dr. Doris Uwicyeza Picard, Chief Executive Officer of the Rwanda Governance Board, described the Scorecard as more than an annual report, “a renewal of Rwanda’s commitment to good governance.”
“Each edition of the Scorecard is a covenant with our collective pledge to measure ourselves transparently, correct course where needed, and continuously strive for excellence in public service,” Dr. Uwicyeza said.
She noted that the 12th edition reaffirms Rwanda’s strong foundation built on trust in institutions, security, and citizen participation, while also highlighting the need to strengthen decentralised service delivery and human development outcomes.
“Our challenge now is to translate governance strength into tangible results felt in citizens’ daily lives,” she added. “The Government of Rwanda has always chosen self-accountability as a pillar of leadership; this Scorecard embodies that principle.”
Dr. Uwicyeza paid tribute to President Paul Kagame, emphasising his leadership vision rooted in unity, ambition, and accountability.
“When President Kagame was asked about Rwanda’s secret, he said it lies in three choices: we chose to stay together, to think big, and to be accountable. The Rwanda Governance Scorecard is the embodiment of that accountability.”
{{Data is the lifeline of governance
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Ms. Fatmata Sesay, UNDP Resident Representative in Rwanda, commended the Government and RGB for maintaining 15 years of consistent commitment to data-driven governance.
“Governance data is more than numbers; it is the lifeline of informed decision-making, policy dialogue, and accountability,” she said. “The Rwanda Governance Scorecard is not just a national tool; it is a global model for how governance data can be systematically collected, analysed, and used to drive transformation.”
She applauded Rwanda’s focus on evidence-based policy and citizen-centred governance, emphasising the Scorecard’s value as a practical instrument for reform.
“Let us not keep this document until next year’s launch,” she urged. “Let it inform our programs, shape our policies, and strengthen accountability. Governance is not abstract—it’s about how services are delivered and how every Rwandan participates in shaping the future.”
Sesay also highlighted the growing role of digital technology and artificial intelligence in public data systems, calling for innovation to enhance citizen feedback mechanisms and real-time data analysis.
{{Turning insight into action
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Delivering the keynote address, Prof. Ozonnia Ojielo, UN Resident Coordinator in Rwanda, described the RGS as “a remarkable homegrown innovation that embodies Rwanda’s deep commitment to accountability and continuous improvement.”
“This Scorecard confirms that Rwanda continues to perform strongly in most governance areas, with five out of eight pillars scoring above 80 percent,” Prof. Ojielo said.
He observed that while Rwanda’s governance remains robust, modest declines in human and social development, education quality, and economic competitiveness underscore the need for renewed focus under NST2.
The key goals of NST2 include achieving an average annual GDP growth rate of 9.3 percent, creating 1.25 million decent jobs, doubling private investment to USD 4.6 billion, doubling export revenues to USD 7.3 billion, and reducing child stunting from 33 percent to 15 percent by 2029.
“Governance is about values, how a society chooses to hold itself accountable. What we see in Rwanda is not just a technical exercise but a foundational process of reimagining the socio-economic fabric of society,” he remarked.
Prof. Ojielo emphasised that measuring performance drives progress.
“What gets measured gets managed, and what gets measured gets done. Measurement is not just observation; it is a catalyst for transformation.”
He called for stronger investments in digital public services, education, export readiness, and citizen engagement, reinforcing that “the Scorecard is not just about data, it is about direction.”
{{A tool for continuous renewal
}}
Now in its 12th edition since its inception in 2010, the Rwanda Governance Scorecard continues to serve as both a mirror and a compass, reflecting the country’s governance achievements while guiding future reforms. It benchmarks Rwanda’s progress against global indices such as the Mo Ibrahim Index, the Chandler Good Government Index, and the World Justice Project, while remaining firmly grounded in homegrown accountability principles.
These include a new iron and steel processing plant, a lithium and tantalum refinery, and expanded petroleum storage facilities.
These projects are highlighted in the annual economic performance report released by the Ministry of Trade and Industry (MINICOM).
{{Export targets and industrial growth}}
According to MINICOM, Rwanda aims to increase its total export value to $4.9 billion by 2026, up from $4.2 billion in 2024/25.
The main contributors to this target include exports from floriculture, edible oil manufacturing, construction materials, and mineral processing industries.
Among the new industrial ventures expected to drive growth is the A1 Iron & Steel plant, which will process iron ore and produce a range of steel products used in construction.
The factory will manufacture Thermo-Mechanically Treated (TMT) bars, 5.5 Wire rods, Binding wire, Hot rolled strips, V angles, Flat bars, C channels, I-beams, and Round bars. It is located in the Musanze Industrial Park.
{{Ceramic, lithium and tantalum processing investments}}
Another significant project is the Rwanda Mountain Ceramics factory in Muhanga District, which will produce ceramic tiles using locally sourced clay.
The total investment is estimated at $60 million, with between 70 and 100 workers already employed during construction and about 200 permanent jobs expected once operations begin.
In the mining sector, the Golden Tree Mining plant, owned by the Dubai-based Golden Tree Investment Group, will process tantalum, lithium, and niobium.
Located in the Muhanga Industrial Zone, this facility will be one of the largest of its kind in East Africa and is expected to significantly increase the value of Rwanda’s mineral exports.
In 2024/25, Rwanda earned $1.6 billion from mineral exports, mainly from tin, tantalum, and gold. The new lithium and tantalum processing plant is expected to boost these earnings even further.
{{Cement, leather and industrial parks expansion}}
In 2025/26, CIMERWA, Rwanda’s leading cement manufacturer, will begin constructing a new clinker production plant in Musanze District.
This project is expected to save the country more than $4.5 million per month, which is currently spent importing clinker from neighboring countries.
Additionally, Rwanda plans to establish a leather industrial park in Bugesera District.
The idea stems from the need to process domestic hides and skins locally rather than exporting them for treatment abroad and reimporting them at higher prices.
These new plants will be supported by infrastructure development in Musanze, Muhanga, Bugesera, and Rwamagana industrial zones.
{{Industrial sector performance}}
The government has set an ambitious goal for industrial growth to reach 10% in the 2025/26 fiscal year, a significant increase from 3% recorded in 2024/25. Revenues from the manufacturing sector also rose to $3.4 billion, compared to $3.3 billion in the previous year.
Within this performance, the food processing industries contributed 24% of the total output, while beverages and tobacco accounted for 29%.
The machinery, metal, and equipment segment represent 8%, matching the contribution from textiles and leather industries, which also stand at 8%. Meanwhile, furniture and office equipment contributed around 7%, and mining and mineral processing maintained a steady share of 8%.
{{Expansion of petroleum storage capacity}}
In March, the Minister of Trade and Industry, Prudence Sebahizi, announced that Rwanda’s current petroleum storage capacity exceeds 110 million liters, but the government aims to increase this to 320 million liters within two years.
The 2025/26 plan includes building new petroleum depots, which will significantly enhance the country’s storage capacity.
Rwanda imports petroleum products mainly from Arab countries, routed through Tanzania and, to a lesser extent, Kenya.
Currently, investors operating petroleum depots earn Frw 8 per liter, but the government is considering raising this to between Frw 12 and Frw 14 per liter to make investment in storage expansion more profitable.
As of 2021, petroleum storage facilities included; OilCom depots in Jabana, SP depots in Rusororo, Government depots in Gatsata, Rwabuye, and Bigogwe, ERP depots in Kabuye, jet fuel storage facilities in Kanombe and Rusororo.
In 2024/25, Rwanda spent $637 million on petroleum imports, a slight increase from $636 million in 2023/24.
According to the report released on Thursday, October 9, several categories recorded notable price increases during the month.
The “Food and non-alcoholic beverages” category rose by 4.2 percent on an annual basis and 1.3 percent month-on-month.
Prices for “Alcoholic beverages, tobacco, and narcotics” increased by 15 percent year-on-year and 1.6 percent compared to August.
Housing, water, electricity, gas, and other fuels rose by 4.1 percent year-on-year and 1.9 percent month-on-month, while transport prices increased by 8.6 percent annually and 1.7 percent monthly.
A sharp rise was also recorded in health, which surged by 71.1 percent year-on-year, remaining stable compared to the previous month.
Meanwhile, “Restaurants and hotels” saw a 17.7 percent annual increase, though prices slightly declined by 0.1 percent on a monthly basis.
The report shows that local products rose by 6.5 percent year-on-year and 1.3 percent month-on-month, while imported products increased by 9.5 percent annually and 1.5 percent monthly.
Prices of fresh products rose by 3.3 percent year-on-year and 1.8 percent month-on-month, while energy prices increased by 4.5 percent annually and 0.4 percent on a monthly basis.
The general index excluding fresh products and energy, often used to gauge underlying inflation trends, rose by 8.9 percent year-on-year and 1.3 percent month-on-month, reflecting persistent price pressures in non-volatile goods and services.
The first is a US $20 million (approximately Frw 29 billion) loan to expand the Karenge Water Project’s transmission and distribution systems.
This project is a critical step towards Rwanda’s goal of achieving 100% access to clean water and sanitation by 2029.
It will directly increase safe water access for households in Kigali and Rwamagana districts, enhance the water sector’s resilience to climate change, and improve the standard of living for citizens.
A second agreement provides a US $25 million line of credit to the Development Bank of Rwanda (BRD) to bolster private sector and Small and Medium Enterprise (SME) development. This financing is a key driver for job creation and economic growth.
Godfrey Kabera, Minister of State for National Treasury highlighted that these agreements reinforce the five-decade partnership between Rwanda and BADEA, a collaboration that has been instrumental in driving development across the country’s economy.
“We look forward to scaling up this partnership through new approaches and highly scalable funding for strategic projects,” he stated.
Commenting on the development, Dr. Fahad Al-Dossari, Chairman of BADEA’s Board of Directors, said: “Today marks a new milestone in our long-standing partnership. We are pleased to support Rwanda’s sustainable development goals with $20 million to enhance clean water access and a further $25 million to accelerate the private sector’s role as an engine of growth and job creation.”
The CEO of BRD, Sayinzoga Kampeta Picthette, stated that the loan provided will help support small and medium-sized enterprises (SMEs) in accessing low-interest loans and increasing exports.
On the other hand, the CEO of WASAC Group, Asaph Kabasha, mentioned that the expansion work on the Karenge plant in Rwamagana has begun and is already 18% complete.
The plant is expected to increase its capacity to process 48,000 cubic meters of water, up from the current 12,000 cubic meters. This will contribute to addressing water shortage issues in Kigali and the Eastern Province.
Rwanda’s cooperation with BADEA dates back to 1974. To date, BADEA’s portfolio in Rwanda is estimated at over US $300 million, financing key sectors such as agriculture, energy, water, and transport, which are vital to achieving the objectives of Rwanda’s National Strategy for Transformation (NST2) and Vision 2050.
Prime Minister Dr Justin Nsengiyumva told parliament on Thursday that the government plans to prioritise programmes that boost productivity while encouraging smallholder farmers to adopt modern agricultural technologies.
“Agriculture is the backbone of our economy and a critical driver of citizens’ welfare,” he noted.
{{Current context and goals
}}
In 2024, agriculture contributed 25% to Rwanda’s Gross Domestic Product (GDP). The government plans to increase this share while achieving full food self-sufficiency by 2029, up from the current 79.6%.
The sector has played a key role in improving the economy and livelihoods. Between 2017 and 2024, Rwanda’s per capita GDP rose from $754 to $1,040, driven in part by agriculture and related industries. The value of agro-processed products also rose, reaching Frw 1 trillion in 2024, up from Frw 369 billion in 2017.
Agriculture employs 55% of the rural population and 12% of urban residents. Nearly 70% of Rwandans rely on farming for their livelihoods, with almost half producing primarily for the market.
{{Strategic interventions
}}
To reach the 50% growth target, the government plans to expand irrigated farmland from 74,375 hectares in 2024 to 132,171 hectares by 2029. Smallholder farmers with plots under 10 hectares will receive subsidies covering 50% of irrigation equipment costs.
The government is also investing in local seed multiplication to reduce dependency on imported seeds and is promoting increased fertiliser use from 73.1 kg per hectare in 2024 to a projected 94.6 kg by 2029, to boost yields.
Investment in agriculture will rise, with bank loans allocated to the sector expected to grow from 6% today to at least 10% by 2029. Farmers are encouraged to insure crops and livestock to minimise losses, with current schemes covering over 300,000 farmers and 56,761 livestock keepers.
{{Production targets
}}
Rwanda plans to increase grain storage capacity from 318,000 tonnes to 420,000 tonnes by 2029. Annual milk production is expected to rise from 1.09 billion litres to 1.3 billion litres, while fish output will grow from 48,000 tonnes in 2024 to 77,000 tonnes. Egg production is projected to reach 21,000 tonnes, up from 17,000 tonnes.
Prime Minister Nsengiyumva said these interventions, combined with modern technology adoption, strategic investment, and insurance programmes, are central to achieving sustainable agricultural growth and improving the livelihoods of Rwandans.
In the second quarter of 2025, GDP at current market prices was estimated at Frw 5,798 billion, a significant increase from Frw 4,979 billion in the same period last year.
The services sector remained the largest contributor to GDP at 50%, followed by agriculture (23%) and industry (21%). Net direct taxes accounted for the remaining 5%.
The agriculture sector grew by 8%, driven largely by a 3% increase in food crop production. Export crop production saw a notable 42% increase, fueled by a 121% surge in coffee production, though tea production declined by 9%.
Meanwhile, the industry sector expanded by 7%, supported by strong performances in mining and quarrying (up 12%), construction (up 5%), and manufacturing (up 7%).
Mining and quarrying activities alone grew by 31%, as reflected in export figures. Within manufacturing, food processing increased by 10%, metal products and machinery by 19%, and chemicals, rubber, and plastics by 24%. Nonmetallic mineral production, including cement, rose by 23%. However, textiles, clothing, and leather manufacturing decreased by 9%, while beverages and tobacco declined by 4%.
In the services sector, 9% growth was registered, with wholesale and retail trade rising by 13%. Transport-related services increased by 5%, though air transport fell by 13% while land transport grew by 10%.
Hotels and restaurants saw a 7% decrease compared to high growth of 18% in the same quarter last year. Positive contributions came from ICT services (11%), financial services (8%), public administration (16%), education (5%), and health services (10%).
The rebased GDP figures offer a clearer and more relevant measure of Rwanda’s economic progress, capturing structural changes and current market conditions to better inform policy and investment decisions.
This revision follows the recent rebasing of the Gross Domestic Product (GDP) to a 2024 base year, which provides a more accurate and up-to-date reflection of the economy’s structure and performance.
As a result of the rebasing exercise, the GDP level for 2024 has been revised upward by 6% to Frw 19,981 billion, compared to the previously published figure of Frw 18,785 billion. Growth rates from 2024 onward have also been adjusted accordingly.
The Minister of Finance and Economic Planning, Yusuf Murangwa, explained that GDP calculation methods are normally revised every three years, but the 2020 update was delayed due to challenges caused by COVID-19.
“The rebasing to a 2024 base year ensures our estimates are grounded in comprehensive and current economic data, enhancing evidence-based planning and investment,” he stated.
The figures show a slight easing from the 7.3 percent recorded in July 2025. The report published on Wednesday, September 10, indicates that food and non-alcoholic beverages rose by 5.4 percent over the year and 0.9 percent compared to July.
Alcoholic drinks, tobacco, and narcotics saw sharper increases, climbing 13.5 percent year-on-year and 1.4 percent on a monthly basis.
Health services recorded the steepest rise, surging by 70.5 percent compared to August last year, although they registered a marginal decline of 0.1 percent from July.
Transport costs went up by 6.9 percent over the year and 0.1 percent month-on-month, while restaurants and hotels posted an annual increase of 18.5 percent and a monthly rise of 0.8 percent.
The report also highlights differences between product categories. Local products rose by 6.7 percent over the year, while imported goods increased by 8.3 percent.
Prices of fresh products rose by 6.2 percent year-on-year and 1.5 percent on a monthly basis. Energy prices were relatively stable, increasing by 2.5 percent on an annual basis but falling by 0.4 percent compared to July.
Excluding fresh products and energy, the general index rose by 7.8 percent year-on-year and 0.6 percent month-on-month.
The decision was taken by the Monetary Policy Committee (MPC) during its quarterly meeting on Wednesday. The CBR, which serves as the benchmark rate guiding commercial banks in setting lending and deposit rates, is the main tool used by BNR to manage inflation.
May had marked the fourth consecutive time the MPC maintained the rate at 6.5 percent, following its initial reduction from 7.0 percent in August 2024.
Addressing the press on Thursday, Central Bank Governor Soraya Hakuziyaremye revealed that inflation remained within the expected range of 2 to 8 percent in the second quarter of 2025. It is now projected to average 7.1 percent this year before easing to about 5.6 percent in 2026.
The outlook, however, has been revised upward from the initial forecast of 6.5 percent due to risks such as adverse weather conditions that could affect agricultural output and uncertainties in global trade and commodity markets.
“The Monetary Policy Committee has decided to increase the central bank rate by 25 basis points to 6.75 percent, a level considered adequate to keep inflation within the target range with forecasts averaging 7.1 percent in 2025 and 5.6 percent in 2026,” the Central Bank boss said.
Despite global trade headwinds, Rwanda’s economy has shown resilience. Real GDP expanded by 7.8 percent in the first quarter of 2025, driven by strong performance in services and industry. High-frequency indicators point to continued growth in the second quarter, with the Composite Index of Economic Activity (CIEA) up 12.5 percent year-on-year, supported by strong credit growth.
External trade also improved, with merchandise exports rising 15.5 percent in Q2, boosted by higher coffee and mineral exports, alongside a 31.1 percent surge in non-traditional exports such as cooking oil and wheat flour. Imports grew modestly by 3.3 percent, helping narrow the trade deficit by 2.9 percent compared to the same period last year.
The foreign exchange market showed signs of stability, with the Rwandan franc depreciating by 2.96 percent against the US dollar by end-June, a slower pace than the 3.73 percent seen in the same period in 2024. This moderation was attributed to an improved trade balance, domestic foreign exchange reforms, and a weaker dollar globally.
Looking ahead, BNR expects inflation to remain within its target band, though risks remain from both domestic and external shocks. The MPC reaffirmed its readiness to adjust policy further if needed to ensure price stability.
BNR’s initial study aimed to assess whether a CBDC, controlled and regulated by the central bank, could be beneficial to Rwanda. It evaluated how such a currency could function alongside existing systems like banks and mobile money platforms, and whether it was necessary for Rwanda’s financial future. The findings revealed strong justification for moving forward, highlighting several challenges that a CBDC could help address.
Now in the pilot phase, the project is testing how the currency could be used in everyday transactions and is welcoming ideas from industry players about the best ways to design and implement it. One of the major advantages of the proposed CBDC is that it allows users to make payments quickly—even without internet access—adding to the country’s existing electronic and cash-based payment methods with a secure, innovative solution.
This pilot marks a significant milestone for BNR, which is working to build a financial ecosystem that is technologically advanced, resilient, and accessible to all. The central bank has confirmed that testing is already underway and expects to publish the results by October 2025.
The goal of the trial is to deepen understanding of how the CBDC would work in practice—its regulatory requirements, cybersecurity safeguards, and how it could integrate with Rwanda’s existing payment systems. It will also help shape the central bank’s final decision on whether to launch the CBDC nationwide.
To support the project, BNR is collaborating with Giesecke+Devrient, a German firm with extensive experience in digital currency systems. Together, they are running a challenge-style program aimed at collecting ideas from financial institutions and technology experts.
The initiative focuses on four areas: how the digital currency can improve payments in rural areas, how it can help government disburse funds directly to citizens, how it might make person-to-person transfers faster and more affordable, and how it could contribute to a safer, more cost-effective financial sector overall.
Participants will include banks, fintech firms, and other stakeholders in the financial space. The competition is set to open in August 2025, with winners selected in September to present their ideas. These results will inform the next steps in the process.
Following the current pilot and ideation stages, BNR plans to proceed with three more phases: building the necessary technological infrastructure, conducting controlled trials among a limited group of users, and finally—if all goes well—rolling out the CBDC to the wider public.
Speaking to IGIHE recently, BNR Governor Soraya Hakuziyaremye emphasized that the process is long but intentional.
“This is a careful, phased approach. If we decide to move forward, we want to make sure that the digital currency is not only secure but also truly beneficial to the Rwandan people,” she said.
She confirmed that the initial research is complete and that stakeholder consultations, including citizen feedback, have already been conducted.
“Our early testing shows that the potential is real. That’s why we’re now beginning more in-depth testing with a small group of users in Rwanda. What we learn from this pilot will help determine whether the country is ready to adopt the CBDC,” she added.
Governor Hakuziyaremye also noted that one of the most immediate benefits of a CBDC could be reduced transaction costs—both domestically and for cross-border transfers.
“Many countries are already using digital currencies, and we believe this could make trade and remittances cheaper and more efficient.”
She added that the system could also enhance competition among payment service providers, ultimately improving innovation and services across the sector.
Unlike cryptocurrencies, which are often decentralized and unregulated, a CBDC is issued and controlled by the central bank. This means it poses fewer risks to the national economy and enjoys the same legal recognition as traditional currencies.
The CBDC would not exist in the form of paper notes or metal coins, but rather as a fully digital legal tender. It would be used to buy goods and services through digital platforms, and all transfers and withdrawals would take place electronically.
[With this new step->chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.bnr.rw/documents/CBDC_Ideathon.pdf], Rwanda joins a growing list of countries actively exploring the future of money through central bank-issued digital currencies. If successful, the CBDC could become a cornerstone of the country’s vision for a smart, connected economy that leaves no one behind.
