Rwanda Waives Charges on Digital Payments

The National Bank of Rwanda has instructed mobile network operators (MNOs) to waive charges on all transfers with bank wallets, person-to-person and merchant fees on payments.

According to The East African, the waiver of fees on all mobile financial transactions by telecoms during the COVID-19 lockdown has led to increased value and number of mobile money transactions in Rwanda. Moreover, data collected by resource centre insight2impact, and released by open forum for development NextBillion, indicates that the money transacted grew from $11 million on 15 March, when the lockdown began, to $25.6 million in late May 2020.