At the official opening of the second edition of the Inclusive Fintech Forum (IFF) held in Kigali, President Paul Kagame noted that the forum is a testament to the unique partnership between Rwanda and Singapore to harness the power of the digital economy.

Organised by Kigali International Financial Centre (KIFC), Singapore’s Global Finance & Technology Network (GFTN), and the National Bank of Rwanda (NBR), the event brought together over 3,000 participants, including government officials, policymakers, regulators, technology experts, and investors, to discuss advancing economic inclusion through technology. 

In his address, President Kagame noted that with the continent’s young tech-savvy population, Africa can compete with the rest of the world and successfully innovate as fintechs continue to dominate the startup ecosystem.

“In recent years, the number of fintech companies in Africa has also tripled. These enterprises, big and small, are fundamentally reshaping our financial services sector. We see this, especially with mobile money and remittance services.”

With an example of Rwanda’s strategic investments in digital infrastructure and skills, the Head of State noted that “moving forward, creating an enabling environment for business to scale should be our number one priority”, adding, “We need a harmonised regulatory landscape and we must come together to combat cybercrime and fraud.”

He said that tapping into public-private partnerships and harnessing the power of artificial intelligence should be leveraged to unlock opportunities.

While technology presents enormous potential for Africa’s economic growth, Kagame said that the continent is experiencing a brain drain with many skilled developers leaving Africa to work abroad. He noted that this is not entirely their problem, as leaders are partly to blame.

Looking at financial inclusion as a challenge, particularly for women in the informal economy, he affirmed that it is an invitation to put available resources to better use and support each other.

“Taking ownership of our development is not something we can ask others to do for us. Business founders also need to do their part and gain the confidence of investors and above all, ask yourself why you, and not anybody else, are best placed to solve a problem you have found.”

President Kagame expressed confidence in the trajectory of digital development and called on everyone to work as one team to build a more connected future.

Click HERE to watch President Kagame's remarks at the Inclusive Fintech Forum 2025 in Kigali.