{"id":51855,"date":"2024-11-08T12:36:18","date_gmt":"2024-11-08T12:36:18","guid":{"rendered":"https:\/\/new.igihe.com\/central-bank-governor-highlights-rwanda-s-commitment-to-digital-economy-at\/"},"modified":"2024-11-09T16:36:55","modified_gmt":"2024-11-09T16:36:55","slug":"central-bank-governor-highlights-rwanda-s-commitment-to-digital-economy-at","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/central-bank-governor-highlights-rwanda-s-commitment-to-digital-economy-at\/","title":{"rendered":"Central Bank Governor highlights Rwanda\u2019s commitment to digital economy at Singapore FinTech Festival"},"content":{"rendered":"

He shared these insights during a panel discussion at the Singapore FinTech Festival on Thursday, November 7, 2024.<\/p>\n

The panel discussion, themed “Financial Network in the Fastest Growing Continent,” focused on Africa\u2019s Digital Public Infrastructure transformation, a key driver of the continent’s economic and societal growth.<\/p>\n

\u201cRwanda views digital transformation as a cornerstone of its socio-economic development strategy, recognizing digital infrastructure and innovation as critical enablers of sustainable growth,\u201d Rwangombwa said.<\/p>\n

He added, \u201cThrough a robust, multi-sectoral approach, Rwanda is setting a foundation for a dynamic digital economy that directly supports financial inclusion, data-driven policymaking, and enhanced service delivery across the country.\u201d <\/p>\n

The session concluded by recognizing the transformative potential of digital financial services while stressing the importance of overcoming connectivity, digital literacy and security challenges for sustainable growth.<\/p>\n

Earlier, on Wednesday, Rwangombwa chaired a roundtable session titled \u201cNavigating the Regulatory Maze: Balancing Innovation and Compliance for Digital Banks\u201d at the Insights Forum in Singapore. <\/p>\n

This discussion addressed the complex regulatory challenges digital banks face as they innovate and expand.<\/p>\n

Governor Rwangombwa highlighted the dual mandate of the National Bank of Rwanda: promoting financial innovation while ensuring stability. <\/p>\n

\u201cAs digital banking grows, we remain committed to fostering innovation that is both inclusive and secure,\u201d he said.<\/p>\n

Digital services have become central to Rwanda’s economy, with 73% of Rwandans (5.9 million people) using some form of electronic financial service by 2024\u2014a significant rise from 30% (2.1 million) in 2020, according to a recent report by Access to Finance Rwanda.<\/p>\n

The Singapore FinTech Festival (SFF), launched in 2016, has grown into a global gathering for policymakers, regulators, central bankers, FinTech innovators, technologists, investors, and financial industry leaders. <\/p>\n

This year’s event running through November 6-8, encourages impactful connections and collaborations, facilitating discussions on innovative financial solutions, evolving regulatory frameworks, and emerging technologies. <\/p>\n

SFF also advocates for sustainable practices, underscoring the importance of responsibility in all facets of the festival.<\/p>\n

\"The<\/figure>\n
\"The<\/figure>\n","protected":false},"excerpt":{"rendered":"

The Governor of the National Bank of Rwanda (BNR), John Rwangombwa has emphasized the critical role of digital transformation in Rwanda\u2019s development and the country\u2019s efforts to drive the digital economy forward.<\/p>\n","protected":false},"author":62,"featured_media":2000076815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-51855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000076815,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/cen.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/cen.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/cen.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/cen.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/cen.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/cen.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/51855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=51855"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/51855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000076815"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=51855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=51855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=51855"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=51855"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=51855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}