• Ssemujju Lewis E

Top Fintechs In Rwanda

Updated: Jul 9

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 i