The National Bank of Rwanda has completed a five-month test of a potential central bank digital currency, the “e-Franc Rwandais (e-FRW),” positioning the East African nation at the forefront of Africa’s push toward digital finance.
The pilot, conducted between May and October 2025, demonstrated that a Rwanda-specific CBDC could support secure, instant payments, foster financial innovation, and contribute to broader national goals of cashless transactions and digital economy adoption.
“The PoC confirmed that an e-Franc could underpin secure digital payments while promoting financial inclusion and innovation in Rwanda,” The National Bank said in a statement.
The PoC involved close collaboration with commercial banks, payment service providers, fintech innovators, and public institutions. It provided practical insights on technology, user experience, risk management, and policy considerations.
The central bank said it will now move to a 12-month pilot phase, engaging a diverse group of users across Kigali, secondary cities, and selected rural areas. The pilot aims to test simple channels such as USSD and low-cost devices, expand real-life use cases with merchants, and deepen collaboration with domestic and international partners to explore interoperability and cross-border use cases.
The bank emphasized that no decision has been made on issuing the e-FRW. “Any decision to introduce a CBDC in Rwanda will be informed by evidence gathered from the pilot phase, stakeholder feedback, and broader policy and regulatory considerations,” the statement said.
The pilot will include strong safeguards covering privacy-by-design, cybersecurity, and close coordination with financial institutions and regulatory authorities. The NBR reaffirmed its commitment to transparency, pledging to keep the public and stakeholders updated as the pilot progresses.
