Rwanda’s Tech Journey: Bridging Gaps, Breaking Limits for SMEs
One of the most notable countries making headlines in terms of technology And SMEs in African is undoubtably Rwanda. Rwanda is gaining its spotlight and popularity as one of Africa’s fastest developing and innovative countries, and through its creative partnerships, the Country is making progress in digital integration, With its full commitment to fully digitalize its public services which are already at approximately 90% digital to ease data processing critical for both the public and SMEs Read more HERE
FinTech Revolution and Financial Inclusion
Rwanda’s Five-year fin Tech Plan aims to position Rwanda among SADCs power hubs of digital finance with government assistance to facilitate a minimum of 300 fin Tech start-ups as a step towards the creation of 7500 jobs, with the vision of getting to 80% Fin Tech by 2029. Business platforms such as eKash and the Rwanda National Digital Payment Systems are also becoming popular and rapidly increasing access to cashless payments.
Emerging Tech: AI, Blockchain, and IoT
Technologies like artificial intelligence, blockchain, and the internet of things also known as (IoT) are also being explored and applied in Agriculture, healthcare, and land management, improving transparency and service delivery. While some regions are already benefiting from this positive development for accurate and real time planning, it is important to note that Rwanda still needs to consider fast network expansions to reach underserved communities as well.
5G Connectivity and Digital Access
Regional conflicts between Rwanda and the Democratic Republic of Congo have created a lot of challenges for investments aimed at expanding 5G broadband networks across the country. The conflicts have also shaken would be Tech start ups confidence making it difficulty for Rwanda’s SMEs to do business. Especially in terms of logistics for raw material across borders which are affected by the conflicts translating into higher costs of doing business, but despite all the current challenges Rwanda is facing, it has been making positive progress in modernizing its digital infrastructure with the completion of its 5G network in Kigali. This initiative is aimed at expanding coverage, improving user experiences, and supporting underserved areas.
Green Tech and E-Mobility
To address its environmental issues, Rwanda is phasing out petrol-powered bikes and encouraging electric mobility. With the introduction Local companies like Ampersand Sare, Spiro and Volkswagen Rwanda & e-Golf to provide clean energy solutions, further positioning Rwanda as an Environmentally conscious country in Africa Read more HERE
So how are Rwanda’s SMEs coping Amid Congo conflict
Rwanda’s SMEs are facing alot of strain due to the ongoing conflict with the Democratic Republic of Congo, which remains one of Rwanda’s biggest business partners. Trade routes have been disrupted, truck drivers have faced threats, and essential supplies for Local business tech start ups have been delayed or made more expensive. Additionally, many traders and exporters are losing customers in conflict-affected areas, while local banks have been cut off, complicating financial transactions.
Despite all the challenges, there are signs of relative calm returning to some regions, which might help stabilize business operations, it’s a tough one, but resilience and flexibility are the name of the game for SMEs doing business in these trying times.
