Rwanda and Kenya Sign MoU to Boost Cross-Border Payments

Kigali, 11 March 2026 - The Central Bank of Rwanda (BNR) and the Bank of Kenya have signed a Memorandum of Understanding (MoU) to facilitate cross-border payments and strengthen regional financial integration. The agreement, inked on the sidelines of the Inclusive Fintech Forum in Kigali, establishes a ‘License Passporting Framework for Payment Service Providers (PSPs)’, allowing licensed PSPs to operate seamlessly in either Rwanda or Kenya. Officials said the MoU is expected to promote competition, encourage innovation, and accelerate technology-driven financial services across East Africa. It aligns with the East African Community (EAC) Cross-Border Payment System Masterplan, which seeks to create a common, efficient, and inclusive regional payment system. A key objective of the agreement is to address regulatory fragmentation by ensuring that a license issued in one EAC country is recognized across member states, enabling broader access to cross-border financial services. The BNR described the MoU as a significant step toward market growth, innovation, and digital financial integration, all under strict regulatory oversight. The Bank of Kenya reaffirmed its commitment to continued regional cooperation in the financial sector.