The Rwandan government has ambitious goals, as part of its Vision 2020 plan, to bring financial services to the majority of the population.
Since 1995 the Rwandan Government has taken steps to deepen and liberalize the financial sector. Efforts are underway to improve the links between the financial system and the masses. Restructuring plans have been agreed between the BNR and the commercial banks.
A legal framework for micro finance institutions has been considered and are to be restructured so as to enhance their role in providing services to rural areas and in encouraging savings mobilization. Commercial banks are being encouraged to concentrate more on financing private sector activities in particular productive sectors including small scale projects. Government is also considering directing credit to particular sectors for instance agriculture which currently only receives 2% of bank credit.
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In this respect, MobiCash is supporting Rwanda in its mission and will help deliver programs and technologies that extend access to financial services for people throughout the country.
The launch of the BioCash initiative is part of national efforts to ensure the Government achieved “an optimal balance between the
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