• Ssemujju Lewis E

Top Fintechs In Rwanda

Updated: Jul 9, 2021

Rwanda is fast becoming a hub of technology innovation in Eastern and Central Africa, with the horror of the civil war in its rearview mirror. Nevertheless, it has gone ahead to earn the nicknames the ‘Singapore of Africa’ and the ‘Switzerland of Africa.‘


Known as Rwanda Vision 2050, the economic development strategy shares similar foundations as others in MEA, such as improving the standard of living for its citizens, digital

transformation, and a wider diverse and innovative economy.


Related: Top FinTech Companies In Cameroon


Under the umbrella of Rwanda FinTech, they are an association trying to unite the leading fintech companies in Rwanda and aims at becoming the face of the Fintech in Rwanda and to represent the shared values of its members who are regulators, investors, financial institutions, foreign associations, partners and other industry stakeholders. The association gathers experienced professionals from finance, investment, law, technology, professional and financial services.


According to BizCommunity, 90 percent of the East African population owned a mobile phone at the beginning of 2013, signifying an 87 percent increase since 1999.

Furthermore, 96 percent of mobile phone users use handsets for financial transactions.


Top Fintech companies in Rwanda


1. ADFinance

ADFinance, a leader of fintech in Rwanda, is an integrated information system that specializes in customer & loans management, savings, and accounting core module services.


ADFinance is an African ICT company created in 2007 with Head Quarters in Kigali, Rwanda. We provide a broad technical scope of solutions to microfinance institutions & support around 300 branches of SACCOs across over seven countries in Africa. In addition, they offer ITES/BPO to small MFIs to have access to our latest technology with fewer investments.



Their team has various competencies ranging from software engineering, banking, accounting, information systems, and microfinance practices. This allows ADFinance to provide holistic solutions to our clients in the microfinance and banking industry. Leader in Business Intelligence and Customer Relationship Management, and a major player in e-Business, they pride in leveraging a unique combination of technical, functional, and industry specialization, as well as partnerships with all of the key software vendors. This is done to deliver maximum value projects and help clients break through barriers to innovation such as Big Data, Digital Transformation & Cloud Computing.


2. Comza Africa

Comza Africa is an institution that believes Africa can play a leading role in mobile innovation despite the progress the continent still has to make in the field.

Comza is evolving the way people communicate. By creating innovative loyalty solutions for mobile networks in Africa, Asia, and other frontier markets.

As the only widespread electronic communication platform, mobile technology has revolutionized the way we communicate. Radically connecting and empowering customers like never before.



But the context comes with its challenges. Dynamics specific to many frontier market regions include; resource-poor settings, lack of retail access, insufficient infrastructure, and poor product design.

At the heart of Comza's innovative solutions is a vision to adapt mobile communication as a means of overcoming these barriers.


Related: Top fintech Companies In Sierra Leone


The aim is to provide a range of affordable, convenient, and secure services. Reaching more people in more regions and empowering them through communication, finance, internet, entertainment, education, agriculture, and health. Adding value through relevance in their day-to-day lives.

The success of the Airtime Credit Service (ACS) product has confidently established Comza as the biggest micro-lender in Africa. Advanced airtime accounts for over 20% of airtime distributed. ACS lives in 19 markets across 16 countries and still growing.


3. AC Group

AC Group Ltd is a Hi-tech & ICT company registered under the Rwandan registrar of companies.

AC is changing the game of fintech in Rwanda. In December 2015, AC Group became a leading provider of smart and interactive IT solutions in Rwanda and Africa. In partnership with the government of Rwanda and bus operators, Tap&Go was put in place to enhance the smart cities agenda in Rwanda and Africa. With the introduction of Tap&Go, Kigali has seen tremendous growth of a safer, clean and accountable public transport system hence attracting more African cities like Yaoundé in Cameroon.

The platform has also allowed for data collection, enabling bus companies to make data-driven decisions, inform government policies and pricing around public transport, and optimize fleets according to traffic.




The system has also enabled and aided contact tracing through our channels in city transport, intercity and will also be possible on the moto.

AC Group’s mission is to make public commuting more efficient, connected, and safer for passengers within their desired mode of transportation. To achieve this, it calls for innovation and continuous growth within the public transport sector and creating additional value for the customer.


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For instance, Soon, passengers will be able to book a trip from Huye (as well as any other district in Rwanda), board a bus to Kigali paying with our Tap & Go app, get to Nyabugogo and get on a bus to a neighborhood in Kigali paying with their Tap&Go and board a moto with Tap&Go for their final mile. All booked at once and at the start of the journey.

AC Group is expected to invest Rwf3 billion into the new Tap&Go ride subsidiary and recently recruited the former Head of Operations Officer at Andela, Malik Shaffy, to run it.


4. DPO Group

DPO Group is a leading African payment service provider (PSP) that has developed the technology to enable businesses and individuals across the continent to make payments online and offline with all currencies and payment methods, including major cards, mobile money, etc. e-wallets. DPO Group currently works with over 100,000 merchants, including 50+ airlines, hotels, restaurants, and travel agents all over Africa. The company was founded in 2006, and since then, it has grown to be a pan-African PSP with more than 300 employees and a presence in 19 African countries.