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Rwanda

Government and institution measures in response to COVID-19.

Government and institution measures in response to COVID-19.

Return to homepage  |  Last updated: 11 May, 2020

General Information

The International Monetary Fund (IMF) has approved $109.4 million credit to Rwanda. The disbursement will help the country, which has registered 84 coronavirus cases so far, to address the pandemic.

The emergency assistance is drawn under the Rapid Credit Facility (RCF), which provides rapid concessional financial assistance with limited conditionality to low-income countries. It will serve to meet Rwanda’s urgent balance of payment needs stemming from the outbreak.

Tax measures – Direct and Indirect

(e.g. payment deferrals, rate reductions…)

Click here to see a comprehensive summary of jurisdictional tax measures and government reliefs in response to COVID-19.

Employment-related measures

(e.g. state compensation schemes, training…)

Monetary Policy

  • On 18 March, the National Bank of Rwanda (BNR) announced the below measures to banks:
    • Extended lending facilities to banks (FRW 50 B fund) for distressed banks at CBR rate, tenure extended to 3,6,12 months.
  • NBR committed to undertake the following:
    • Encourage use of digital channels and contactless mobile payments: for the next 3 months and w.e.f 19th March 2020 Mobile Network
  • Operators and Banks agreed to:
    • Zero charges on all transfers between bank accounts and mobile wallets
    • Zero charges on all mobile money transfers
    • Zero merchant fees on payments for all contactless Point of Sale (mobile and virtual POS) transactions
    • Limits for individual transfers using money wallets increased from FRW 500,000 to FRW 1,500,000 for Tier 1, and FRW 1,000,000 to FRW 4,000,000 for Tier II customers.

Other measures and sources

Measures to ease the lockdown

  • 4th May – movement prohibited from 8pm to 5 am except with permission. Reopening by 4 May: public and private business with essential staff (others continue to work from home); markets open for essential workers not exceeding 50% of registered traders; manufacturing and construction will open with essential workers; hotels and restaurants open until 7pm; individual sporting activities in open spaces allowed, but sporting facilities remain closed; public and private transport allowed within the same province; funerals not to exceed 30 people. Remain closed: Schools (until September 2020); places of worship; gyms and recreational centres; bars; public and private transport between provinces; bicycles and motorbikes can transport goodies but not passengers; borders remain closed except for goods and cargo, as well as Rwandan residents returning  (subject to mandatory quarantine); meetings in public spaces prohibited. New guidelines to follow after 4th May. 

Main sources of information:

Contact us

Tax: Angello Musinguzi – amusinguzi@kpmg.com