The National Bank of Rwanda has raised concerns over reports that some businesses are refusing to accept low-denomination coins, stressing that all coins currently in circulation remain legal tender and must be accepted in transactions.
The issue surfaced during the Monetary Policy and Financial Stability Committee press briefing held on February 19, after journalists highlighted complaints from the public.
According to the reports, certain merchants have declined to accept Rwf20 coins, in some cases requesting higher denominations such as Rwf50 or failing to return the correct balance when giving change.
Don’t Miss This: FG Upskills Civil Servants Through Nationwide Digital Training Programme
Addressing the matter, Chantal Kasangwa, Executive Director for Markets and Banking Operations at the central bank, reassured the public that the Rwf20 coin remains fully valid for use.
She confirmed that six denominations — Rwf1, Rwf5, Rwf10, Rwf20, Rwf50 and Rwf100 — are still in active circulation and readily available through the bank’s reserves.
Kasangwa linked the growing reluctance among businesses to Rwanda’s rapid adoption of digital payment systems.
As more merchants rely on mobile money and other cashless platforms, fewer are making deliberate efforts to obtain and keep small coins for cash transactions.
She explained that many sellers do not anticipate the need to provide low-value change and therefore do not request coins from banks or financial institutions.
While Rwanda continues to advance toward a cashless economy, the central bank emphasized that coins remain essential, particularly for low-value and everyday transactions.
Large retailers such as pharmacies and supermarkets still withdraw coins regularly, but many smaller businesses assume customers will primarily pay digitally.
The apex bank said it plans to engage commercial banks and encourage businesses, especially larger ones, to ensure coins are circulated effectively so they remain accessible to the public.
Beyond cash usage concerns, the central bank also highlighted improvements in digital payment security.
Reported fraud cases declined from about 5,000 in December 2024 to approximately 3,000 in 2025, with mobile money accounting for most incidents.
Moise Bigirimana, Acting Executive Director for Financial Sector Development and Conduct at the National Bank of Rwanda, attributed the drop to nationwide awareness campaigns such as Bimamatwi and broader digital payment education initiatives aimed at helping consumers identify and avoid scams.
The developments underscore Rwanda’s balancing act between accelerating digital transformation and maintaining the integrity of traditional cash systems that remain vital to segments of the economy.
