Rwanda and Singapore Strengthen Financial Sector Cooperation

Singapore, February 25, 2026 - Rwanda and Singapore are expanding cooperation in the financial sector, focusing on banking, financial technology, and capacity building for government institutions. The Rwandan Ambassador to Singapore, Innocent B. Muhizi, held talks with representatives from Singapore’s banking sector and Ministry of Foreign Affairs, emphasizing opportunities for multi-sectoral collaboration, knowledge sharing, and partnerships to promote growth and innovation. During a meeting with Ai Boon Ong-Ang, President of the Singapore Bankers Association, discussions centered on banking sector collaboration, particularly in fintech, as Singapore supports Rwanda’s goal of becoming a regional Fintech hub. Ambassador Muhizi also met with Jolene Tan, Director General for Development Partnerships, to discuss continued cooperation in capacity building programs for civil servants, including knowledge development, institutional strengthening, and creating sustainable cooperation mechanisms. Rwanda and Singapore already maintain partnerships in technology development, innovation, education, green technology, and capacity building. The countries also collaborate through FOSS, an organization established in 1992 to foster international cooperation. In September 2023, the two countries signed a cooperation agreement to enhance population welfare and promote economic development, laying the groundwork for ongoing financial and technological collaboration.