We are on a mission to unlock global opportunities and connect Africa, one transaction at a time. Today we take an important step forward, as we announce we are bringing Chipper Cash to Rwanda!
With the official launch date set for 21 June, very soon people will be able to send money to 21+ countries in Africa and the USA directly to mobile money and bank accounts, and receive money locally and globally where it is needed. We are already working on bringing to life additional payment services. This will include launching the Chipper Card, enabling customers to shop, stream and subscribe online, and Chipper for Business. Together, these are digital financial solutions that tap into the economic potential of the country, empowering the population and connecting Rwandans to the global economy.
Why does this matter?
According to the McKinsey report, domestic electronic-payment volumes, including wallet-enabled payments in Africa, more than tripled between 2015 and 2020. It is likely these will increase five-fold by 2025 with close to 150 billion transactions. In addition, our launch comes at a time when remittances in Rwanda hit RWF 255 billion in 2021 according to the World Bank. However, the cost of sending money back home remains a key challenge, setting back senders as much as 20,000 RWF, denoting the high cost of cross border remittances.
We believe that using Chipper Cash will ease money transfer challenges for Rwandans, deepen financial inclusion and accelerate the development of an interconnected African global economy. Working closely with our key regulatory partners, we are excited to become operational in the country to expand people’s access to inclusive financial services.
Join us as Chipper lights up the skies of Kigali
We will officially launch Chipper Cash into the Rwandan marketplace at the inaugural Inclusive Fintech Forum on 21 June 2023, where guest of honour will be H.E. Paul Kagame, The President of the Republic of Rwanda. This will be followed by a spectacular light show above the skies of Kigali for all to see. A small number of lucky Chipper customers will be invited to attend the launch event in-person. Find out more at Rwanda Connected.