The National Bank of Rwanda (BNR) and the Central Bank of Kenya have signed the Kigali Declaration on Fintech License Passporting, a landmark agreement designed to make it easier for fintech companies and payment service providers to operate across both countries.
The declaration was signed by Soraya Hakuziyaremye, Governor of the National Bank of Rwanda, and Gerald Nyaoma, Deputy Governor of the Central Bank of Kenya, on Wednesday, March 11, on the sidelines of the Inclusive FinTech Forum 2026 held in Kigali.
The agreement introduces a fintech license passporting framework that will allow licensed payment service providers in one country to expand their services into the other without having to undergo a full licensing process again.
Regulators say the initiative will reduce regulatory barriers, cut compliance costs, and accelerate the growth of cross-border digital payment services.
Speaking during the signing ceremony, Hakuziyaremye described the declaration as a major step toward deeper regional financial integration.
“By recognizing each other’s licenses, we are removing barriers that have slowed innovation and giving fintechs the space to grow beyond borders while strengthening our region’s digital payments ecosystem,” she said.
She noted that the initiative builds on previous efforts to promote cross-border financial services, including Rwanda’s earlier license passporting arrangement with the Bank of Ghana approved in February 2025.
According to her, the framework will help foster innovation, increase competition, and expand digital financial services across borders.
The initiative also aligns with broader regional and continental integration efforts, including the payment systems integration agenda of the East African Community and the objectives of the African Continental Free Trade Area.
Nyaoma said the framework addresses a long-standing challenge faced by payment service providers operating across multiple jurisdictions.
“For too long, fintech companies expanding across markets have had to navigate multiple licensing processes. Passporting will simplify that journey, lower costs, and allow innovators to focus on delivering better financial services,” he said.
He added that similar passporting frameworks in regions such as the European Union have enabled financial institutions licensed in one country to offer services across multiple markets, supporting the growth of financial technology and cross-border payments.
Industry observers say the Kigali Declaration could serve as a model for other African central banks seeking to reduce regulatory fragmentation and promote a more integrated digital financial ecosystem across the continent.
