Flow Rwanda has been prominently featured in The New Times, highlighting our rapid growth and significant impact in bridging the financing gap for Micro, Small, and Medium Enterprises (MSMEs). The article underscores Flow’s contribution to Rwanda’s dynamic financial ecosystem and our commitment to financial inclusion.
According to The New Times, Flow Global’s investments and operations in Rwanda are crucial to advancing financial inclusion and supporting economic growth. By offering a fully digital loan product, Flow is driving the adoption of mobile money and strengthening the country’s digital payment ecosystem. Geoffrey Acini, our Regional CEO, emphasized that Flow’s services align with Rwanda’s ambitious plans to establish a transparent digital economy.
Empowering Underserved Communities
Flow’s commitment to financial empowerment extends to groups traditionally excluded from formal financing, with 75% of our customer base being youth and 52% women. The New Times highlighted the staggering $5.2 trillion financing gap for MSMEs across developing economies, noting that Flow is directly addressing this challenge by supporting mobile money merchants—an essential part of the digital economy.
Acini further pointed out that many mobile money agents struggle to access working capital for growth. Flow identifies these agents in need and provides them with the necessary liquidity to expand their businesses. Notably, 68% of Flow’s customer base is in rural areas, demonstrating our reach and impact across diverse communities.
Rwanda: A Strategic Hub for Fintech Growth
The New Times explored why Flow Global chose Rwanda and the Kigali International Finance Centre (KIFC) as a key operational base. Rwanda’s business-friendly environment, strong mobile money market growth, and KIFC’s strategic role in fostering fintech innovation made it an ideal location. Flow was the first fintech company in Rwanda to secure a central bank license as a non-deposit-taking financial institution.
KIFC’s support in navigating regulatory frameworks and Rwanda’s sandbox framework allowed Flow to test and refine its innovative financial products. The favorable tax regime also provided a competitive edge as Flow scaled operations across the region.
A Success Story Aligned with AFSIC
The article also recognized Flow’s connection with AFSIC-Investing in Africa, a leading investment conference held annually in London. Before launching in Rwanda, Flow engaged with KIFC during AFSIC, which played a pivotal role in facilitating our expansion. Flow’s presence in Rwanda aligns with AFSIC’s focus on leveraging digital financial services for economic development.
Kananura, Chief Investment Officer at Rwanda Finance Limited, noted that Flow Global’s success has inspired other fintech companies to consider Kigali as a strategic gateway into Africa. Our investment in Rwanda reflects a broader trend of fintech innovation driving financial inclusion across the continent.
Flow Rwanda’s recognition in The New Times reaffirms our mission to provide accessible financing solutions for MSMEs and contribute to a thriving digital economy. As we continue our journey, we remain committed to innovation, inclusion, and sustainable financial growth in Rwanda and beyond.
We are proud to be part of Rwanda’s evolving fintech landscape and look forward to expanding our impact even further. Thank you to The New Times for recognizing our work and shedding light on our mission!