Rwanda’s Central Bank (BNR) has signed a new Memorandum of Understanding with the Bank of Central African States (BEAC) aimed at strengthening financial sector resilience and advancing cybersecurity cooperation across the region.
The agreement was signed by BNR Governor Soraya Munyana Hakuziyaremye and BEAC Governor Yvon Sana Bangui during a meeting of the Sub-Saharan Africa Central Bank Network, which brought together central bank leaders from across Sub-Saharan Africa to discuss emerging financial and technological challenges.
The partnership marks an important step toward improving collaboration between Rwanda and Central African monetary authorities in protecting digital financial systems, enhancing payment infrastructure, and safeguarding financial stability.
Under the memorandum, the two central banks will work together to strengthen cybersecurity frameworks in the financial sector an increasingly critical area as digital banking and electronic payment systems continue to expand across Africa.
The cooperation will also focus on improving oversight of digital payment systems, ensuring that cross-border financial transactions remain secure, efficient, and reliable.
In addition, the agreement outlines joint efforts to combat money laundering and the financing of terrorism, while promoting sound regulatory practices and stronger supervision of banking institutions.
These measures are expected to enhance trust in financial systems and support sustainable economic development in the region.
Speaking during the signing ceremony, Governor Hakuziyaremye emphasized the strategic importance of the partnership.
“Strengthening collaboration among African central banks is essential as financial systems become more digital and interconnected. This agreement will help us enhance cybersecurity resilience, improve payment systems, and reinforce financial stability for the benefit of our economies.”
The memorandum also opens the door for knowledge sharing, technical cooperation, and coordinated policy approaches between the two institutions.
By aligning efforts in financial oversight and digital infrastructure, the partnership is expected to contribute to safer financial ecosystems and deeper regional integration.
As African economies continue to adopt digital financial services at a rapid pace, initiatives like this highlight the growing commitment among central banks to work together in addressing evolving financial risks while unlocking the benefits of innovation.
By Andrew shyaka
