The Minister of ICT and Innovation, Paula Ingabire was appointed to the International Advisory Board of the Global Finance and Technology Network (GFTN), a Singaporean not-for-profit dedicated to advancing fintech.

The appointment was made in Singapore, where Minister Paula led Rwanda’s delegation at the 9th Edition of the Singapore Fintech Forum. 

Minister Ingabire will be joined on the board, whose mission is to provide valuable guidance to the GFTN’s Board of Directors, by other distinguished public and private sector leaders, including Dominic Barton, Chairman of LeadFrog Investment and Chairman of Rio Tinto, Patrick Njoroge, Former Governor of the Central Bank of Kenya and Dr Verathai Santiprabhob, Former Governor of the Bank of Thailand. 

GFTN aims to leverage technology and foster innovation through global partnerships to create more efficient, resilient, and inclusive financial ecosystems.

The organisation also seeks to drive greater synergies within the global finance and technology communities for innovations in financial services that create positive economic value and social impact.

GFTN was launched in late October 2024 by the Monetary Authority of Singapore (MAS), Singapore’s central bank, as the successor to Elevandi, a company limited by guarantee set up by MAS four years ago, to serve as the convenor of global conferences dedicated to finance and technology.

Among these conferences is the Inclusive FinTech Forum (IFF), which held its inaugural session in Kigali last year. The IFF promotes strategies for the inclusive and sustainable growth of fintech, with Rwanda and Singapore set to co-host the IFF 2025 in Kigali from February 24 to 26.

Ravi Menon, the Chair of the GFTN Board of Directors, noted that the organisation would offer advisory services to authorities in developing countries to help build digital infrastructures, formulate policies to harness technology and financial services and create robust innovation ecosystems.

Currently, GFTN is partnering with Rwanda and Ghana on a pilot project to improve cross-border payment connectivity in Africa. The organisation also plans to expand its network by integrating three digital platforms initially incubated by MAS.

One of these platforms, Proxtera, offers a digital space for small and medium-sized enterprises (SMEs) to secure digital credentials and access cross-border trade and financing.

“Proxtera has helped bridge global trade for micro, small, and medium enterprises in Rwanda, Ghana, Chongqing in China, and most recently, Cambodia, through the financial transparency corridor,” Menon said at the opening of the Singapore Fintech Forum 2024.