Kenya and Rwanda central banks sign agreement to simplify fintech licensing and expand cross-border payment services across markets.
The Central Bank of Kenya and the National Bank of Rwanda have signed a Memorandum of Understanding to simplify licensing procedures and expand cross-border payment services.
The agreement lays the foundation for a passporting framework that will allow payment service providers licensed in one country to operate more easily in the other.
Speaking at the Inclusive FinTech Forum in Kigali, CBK Deputy Governor Gerald Nyaoma Arita said payment companies expanding across borders often face multiple regulatory regimes despite similar compliance requirements.
The agreement also supports the East African Community Cross-Border Payments Master Plan approved in 2025, which aims to improve payment interoperability across the region. Officials say the framework will help fintech firms scale regionally while promoting financial innovation and inclusion between Kenya and Rwanda.
Discover more from DiutoCoinNews
Subscribe to get the latest posts sent to your email.
