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Visa-Rwanda Partnership to Drive Electronic Financial Services

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By Robert Mugabe

rmugabe@greatlakesvoice.com

Kigali, Rwanda-The Government of Rwanda today announced a wide-reaching Charter of Collaboration to develop localized solutions to extend access to financial services to local and international consumers throughout the country.

The partnership is a step in the Government of Rwanda’s Vision 2020 plan, the country’s blueprint to become a middle-income nation within the coming decade, with per capita income of $1000 by 2020, up from $220 in 2000.

 

“Visa believes that everyone has the right to have access to basic financial and payment services, and we are very pleased to be able to work with a government as committed to this vision as the Rwandan government.  Partnerships such as this are the key to delivering the promise of economic growth and financial inclusion that we know electronic payment systems can provide.” Joseph W. Saunders, Chairman and CEO of Visa Inc., said

 

Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency.

 

“This partnership is aligned with the National Bank of Rwanda’s strategy to reduce the widespread usage of cash and increase liquidity within the banking system, which ultimately reduces interest rates and improves price stability.” Ambassador Claver Gatete, Rwanda central bank boss said.

The company’s aim to generate 50 percent of its revenue from markets outside of the United States by 2015 will partly be enabled through its ability to build, buy and deploy new technologies that extend its products to geographies where electronic payments are limited today, such as Rwanda.

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