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Rwanda recently introduced a new regulatory framework governing foreign currency transactions, reshaping how businesses and individuals may operate in this space.
On 17 September 2025, the Central Bank issued Directive No. 4230/2025-00042, reaffirming the Rwandan Franc (FRW) as the sole legal tender, while broadening the category of entities permitted to transact in foreign currency without prior authorisation—now referred to as “deemed authorised dealers.” These include, among others, real estate companies with RDB certificates, licensed tourism operators, KIFC entities, mining companies, aviation and logistics services, international schools, and service providers to diplomatic missions.
The Directive also establishes clear timelines for authorisation, introduces a 10-year record-keeping obligation, and provides a six-month compliance window for existing contracts denominated in foreign currency. This reform enhances regulatory clarity, promotes transparency, and aligns market practices with Rwanda’s monetary policy objectives.
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