Gozem's $30 million investment is fueling mobility and financial inclusion throughout Francophone Africa in the realms of transportation and technology.
Rwanda is making significant strides in becoming a leading innovation hub in the African tech ecosystem. This transformation is primarily driven by the country's ambitious digital transformation initiatives, backed by substantial investment, strategic government programs, and robust support structures for startups.
In 2024, over 10,000 jobs were created in startups, and the Inkomoko program supported over 100,000 micro-entrepreneurs, including many refugees, with $24 million in loans and the creation of over 60,000 jobs. These initiatives are part of the $200 million Rwanda Digital Acceleration Project, co-financed by the World Bank and AIIB, which fosters innovation-led growth aligned with Rwanda’s Vision 2050 to become a high-income economy.
The project supports local startups and entrepreneurship support organizations (ESOs) through grants, early-stage financing, and incubation programs, with a focus on expanding tech innovation and participation of women and youth in entrepreneurship. The development of the Smart Rwanda Master Plan II and the Rwanda Innovation Strategy further create enabling policies and institutional frameworks necessary for a thriving digital ecosystem.
Rwanda is also emphasizing FinTech growth, targeting a $200 million investment in this sector over five years, aiming to lead Africa’s digital future. The Kigali Innovation City is another flagship initiative that consolidates infrastructure and startup support, positioning Rwanda as a premier innovation center on the continent.
The Rwandan government offers attractive incentives to startups, including 7 years of tax exemption for investments in innovation parks, 0% corporate tax for regional headquarters, preferential tax rates of 15% in the TIC and e-mobility sectors, and entrepreneurial visas for two years and visas for key talents.
Gozem, a mobility and fintech startup, is one of the companies taking advantage of Rwanda's favourable business environment. In 2024, Gozem received a $10 million credit line from IFC to finance 6,000 additional drivers in Togo and Benin, with a focus on electric motorbikes and battery swapping stations. This substantial injection of capital empowers Gozem to deepen its vehicle financing programs, enabling drivers to transition from used to new vehicles with flexible repayment via daily earnings.
Gozem unveiled Gozem Money, a mobile-money service, in Togo, in partnership with NSIA Banque. Gozem Money offers services such as person-to-person money transfers, bill payments, and financial tracking tools. Seamlessly embedded within the Gozem Super App, users can manage transport, deliveries, commerce, and finance in one place, reinforcing Gozem's ambition to become the dominant mobility + fintech super app across Francophone West and Central Africa.
Rwanda's digital governance includes online access to most public services via Irembo and e-government portals. The Rwanda National Bank has launched a 5-year fintech strategy aiming to support 300 fintech companies, create 7,500 jobs, and attract $200 million in investments, with regulatory sandbox support.
Rwanda, a bilingual country (French and English), is known for its strong French heritage and dynamic entrepreneurial scene. The country ranks 2nd in Africa and 38th globally for ease of doing business according to the World Bank's Doing Business 2020 report. This is due to reforms such as registering a company in 6 hours, free commercial licenses for new SMEs, expedited building permits, and simplified water and electricity connection procedures.
Looking forward, Rwanda plans to expand its innovation horizons, with Gozem aiming to expand into Senegal, Ivory Coast, Nigeria, and DRC over the 2025-2026 period, leveraging new capital and operational experience. The next edition of "The Next Wave: Francophone Africa," a newsletter focusing on insights about the tech ecosystem in Francophone Africa, is scheduled for August 26th, 2025.
With its strategic funding, government vision, advanced digital infrastructure, policy support, and targeted startup support, Rwanda is indeed shaping Africa’s next wave of tech development.
[1] World Bank Group. (2020). Rwanda Digital Acceleration Project. Retrieved from www.worldbank.org/en/project/rwanda-digital-acceleration-project
[3] Government of Rwanda. (2020). Rwanda Innovation Strategy. Retrieved from www.gov.rw/rwanda-innovation-strategy
[4] Government of Rwanda. (2020). National Fintech Strategy. Retrieved from www.gov.rw/national-fintech-strategy
[5] Kigali Innovation City. (2020). About Kigali Innovation City. Retrieved from www.kigalinnovationcity.rw
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