LIVE FROM GSMA MOBILE 360 SERIES – AFRICA, KIGALI: A top executive from Rwanda’s central bank pointed to the importance of strong partnerships between the public sector and private sector – both MNOs and traditional banks – to accelerate financial inclusion.
National Bank of Rwanda deputy governor Monique Nsanzabaganwa (pictured, right) said the organisation had worked hard to ensure a “level playing field” for mobile money operators and mainstream banks. It also actively engaged with the two in a bid to meet its target of achieving 90 per cent financial inclusion in the country by 2020.
“Our role is to set targets” she added. “We can’t deliver through just having regulation and policies in place, you need the private sector to be driving this and have them on board.”
The regulator has issued rules on mobile money providers ensuring there is a separation between mobile money and other services in addition to ensuring they follow the same data rules as mainstream banks.
Nsanzabaganwa said progress already made towards inclusion had been partly driven by the country’s mobile money sector and “technology is going to be one of the driving forces” going forward.
Although the private sector had driven technology adoption, she added the regulator helped expand adoption to be truly nationwide and “facilitated the deployment of agents as we need access to those services in every part of the country.”