Rwanda launches ‘TecHouse’ to drive its financial innovation agenda

Bank of Kigali Limited, Rwanda’s largest commercial lender, has launched ‘BkTecHouse’, a new technology company that will provide IT solutions in banking, education, agriculture and health in the East-African nation.

The move follows the launch of another subsidiary, BK General Insurance, earlier this month.

According to Bank of Kigali’s CEO, the new digital solutions company, will be at the center of exploring new digital solutions that will power innovation in not only banking but in other sectors such as education, agriculture, and health in a way that creates business opportunities for the bank while solving problems.

The company will start operations with the launch of Urubuto Education System, a software allowing schools to effectively manage finance, students, academics, and libraries.

Regis Rugemanshuro, CEO of the new subsidiary, said one of the main aims is to create innovative solutions that respond to local challenges.

With its ICT-led Socio-Economic Development Policy and Plan, commonly known as the National Information Communications Infrastructure (NICI) Plans, Rwanda aims to transform the country from low-income into middle-income and transition from an agrarian economy to an information-rich, knowledge-based society by 2020.

Various e-Government initiatives including e-Cabinet; e-Parliament, document tracking and workflow management system; financial management system (FMS) and others have been implemented to improve government operations and boost the country’s socio-economic development.