Understanding Rwanda’s Fintech Regulatory Sandbox for Capital Markets

In a significant stride towards promoting financial innovation, the Capital Market Authority (CMA) of Rwanda has introduced Guidelines n° 002/CMA_G/2023, dated 27/04/2023. These guidelines govern the Fintech Regulatory Sandbox for Capital Markets, creating a controlled environment for fintech innovators to test their products and services, ensuring a balanced approach between innovation and regulatory oversight. Embracing Digital Transformation Rwanda’s financial sector is experiencing rapid transformation driven by evolving financial technologies (Fintech). These innovations are reshaping market structures and creating new business models, offering financial products and services more efficiently. The Fintech Regulatory Sandbox (the “CMA Sandbox”) is designed to embrace this…