Rwanda's Ministry of ICT and innovation has signed an agreement with the duo of MasterCard foundation and Centri. The partnership seeks to initiate a three-year digital transformation programme to strengthen the country's digital capabilities and systems.
The government's plan to achieve rapid digital transformation, embrace the digital economy, scale-up service delivery, and create more job opportunities for nationals is the key factor behind the recent development.
"During the Covid-19 pandemic, we've seen digital payments grow more than tenfold, and it's these gains that we want to build on and unlock further growth and adoption of digital payments," said Paula Ingabire, the Minister of ICT and Innovation.
Speaking on the partnership, Rica Rwigamba said it is important to support the sustainability of innovative interventions like the one being launched to scale up employment opportunities to the youths.
"Unlocking significant, long-lasting efficiencies in financial inclusion and productivity for young men and women will help to increase their access to employment opportunities and entrepreneurship." Rica Rwigamba, the country director of MasterCard Foundation in Rwanda
The project will be implanted by Cenfri and 71point4, both South Africa-based research and data firms who praised the initiative, describing it as a great contributor to their learning.
Doubell Chamberlain, Managing Director and Founder of Cenfri, said, "This partnership presents an opportunity to build on our learnings and achieve real impact together over the coming years." "Over the last five years, our work in Rwanda as part of the insight2impact (i2i) program highlighted the power of data to advance financial-sector development and improve economic and financial inclusion," he added.
According to a statement released by the institutions, the program will operate in three main approaches: making data and trend analysis easily accessible, supporting the application of data to policy actions, and accompanying public sector staff to utilize data-driven strategies.
Rwanda in focus
GDP: $10.354 billion compared to South Africa's $351.432 billion in 2019
Population: 12,626,950 compared to South Africa's 58,588,267 in 2019
GDP per capita: $820compared to South Africa's $6,001 in 2019