Remittance — Rwanda
The Rwanda category mapped to cross-border remittance.
Regulator: National Bank of Rwanda.
The BNR 'Licensed Institutions' register (under Law N° 061/2021 of 14/10/2021 governing payment systems) publishes per-entity SERVICE authorizations as table columns rather than Regulation 74/2023 Category I-IV tier labels; this row mirrors the register's own column (report-the-record). Single-service column, single-mapped.
Maintained: this official source is re-checked on a weekly schedule — last checked 2026-08-24 · unchanged since the previous check.
Licensed providers
16 entitiesLicence requirements
What it takes to hold this licence, as stated in the cited official instruments. Capital and fees are shown in the currency the statute itself uses.
| Requirement | As published | Source | Source date |
|---|---|---|---|
| Minimum capital | FRW 30,000,000 (Reg 74/2023 Category III) Verbatim“An applicant wishing to be licensed under payment services category III, must have a initial capital of not less FRW 30,000,000.” | Regulation N° 74/2023 of 18/09/2023 governing payment service providers (Official Gazette n° 38 Bis of 25/09/2023) | 2023-09-25 |
| Local presence / incorporation | Same — Rwandan incorporation + place of business + resident CEO/MD Verbatim“the applicant is a company incorporated under the Law governing companies in Rwanda; … has a permanent place of business, or a registered office in Rwanda; … the chief executive officer or managing director of the applicant is a citizen or resident of Rwanda” | Regulation N° 74/2023 of 18/09/2023 governing payment service providers (Official Gazette n° 38 Bis of 25/09/2023) | 2023-09-25 |
| Timeline | Decision within 90 days (processing time) Verbatim“The Central Bank, within 90 days after receipt of a complete application, investigates and prepares a response to the applicant.” | Regulation N° 74/2023 of 18/09/2023 governing payment service providers (Official Gazette n° 38 Bis of 25/09/2023) | 2023-09-25 |
| Local ownership | No such requirement: No local-shareholding % in official text | Regulation N° 74/2023 of 18/09/2023 governing payment service providers (Official Gazette n° 38 Bis of 25/09/2023) | 2023-09-25 |
| Fees | Application FRW 1,000,000 (Cat III). Annual: same oversight fee (≥0.5% prior-year gross income) Verbatim“…proof of payment of FRW 1,000,000” | Regulation N° 74/2023 of 18/09/2023 governing payment service providers (Official Gazette n° 38 Bis of 25/09/2023) | 2023-09-25 |
| Ongoing obligations | Perpetual licence; insurance policy covering ≥ FRW 100,000,000 risk as security of funds held in vaults; maintain capital; AML/CFT; reporting; annual oversight fee Verbatim“The institution wishing to be licensed under payment services category III, must have an insurance policy covering at least a risk of an amount of FRW 100,000,000 as security of funds held in vaults.” | Regulation N° 74/2023 of 18/09/2023 governing payment service providers (Official Gazette n° 38 Bis of 25/09/2023) | 2023-09-25 |
Requirements as published in the cited instruments — not legal or compliance advice. Where a value is located but not yet verified, we show that it exists but don't publish the figure. Verify directly with the regulator.
The equivalent in other markets
Categories mapped to the same normalized activity —
fintech:REMITTANCE_XBORDER:
- → International Money Transfer Operators (IMTO) (Nigeria)
- → Money Remittance Provider (Kenya)
- → International Money Transfer Operator (Ghana)
- → Authorised Dealer in foreign exchange with Limited Authority - Category 3 (South Africa)
- → Money Transfer Service Provider (Tanzania)
- → Money Remittance Operator (Uganda)
- → Money Transfer Service Provider (Zambia)
- → Money Remittance/Transfer Agency (Ethiopia)
- → Établissement de paiement spécialisé, exclusivement, en matière de transfert de fonds (Morocco)
- → Authorised Dealer with Limited Authority - Tier 1 (Zimbabwe)
- → Authorised Dealer with Limited Authority - Tier 2 (Zimbabwe)
- → Messagerie financière (DR Congo)
- → Instituição de transferência de fundos (Mozambique)
- → Casa de câmbio autorizada a exercer actividade de remessa de valores (Angola)
- → Foreign Exchange Bureau and Money Transfer (Lesotho)
- → Non-Account Based Payment Services (Money Remittance Service) (Botswana)
- → Money Service Provider (Money Transfer Agent) (Malawi)
- → Établissement de paiement (Tunisia)
- → Money Transfer Business (Somalia)
- → Établissement de paiement de transmission de fonds à l'international (Burundi)
- → Auxiliaire financier (Djibouti)
- → Payment service provider (Seychelles)