The National Bank of Rwanda BNR has confirmed that it is actively exploring the introduction of a Central Bank Digital Currency CBDC as part of its broader strategy to promote financial inclusion and digital innovation.
Described as a digital form of cash issued by the central bank, a CBDC would serve as a complement to existing payment options such as mobile money and bank cards. It would offer added benefits, including faster transactions, secure offline payments, and improved access in areas affected by network disruptions or electricity outages-especially in rural communities.
The Bank has begun conducting a five-month closed-loop proof-of-concept phase with a limited group of participants, including staff from both the central and commercial banks, merchants trialing offline payments, and institutions testing USSD features. The project focuses on understanding user experience, technical feasibility, and potential risks. Areas under examination include cybersecurity, legal frameworks, and the integration of CBDC into Rwanda's existing payment infrastructure.
According to the BNR, four core motivations are driving the CBDC exploration:
