The Capital Market Authority (CMA) has admitted Ndovu Wealth Rwanda Limited to the Fintech Regulatory Sandbox. This firm will test its innovation in a capital market live environment in compliance with the CMA Fintech Regulatory Sandbox Guidelines.
Ndovu Wealth Rwanda Limited will test its WAZI API fintech innovation, described as an embedded finance solution aiming at integrating the capital markets products into financial platforms of existing ecosystem players, thereby facilitating access and broadening the investor participation into the capital market investment products.
The innovation seeks to broaden the investor base by integrating with existing ecosystem players particularly collective investment schemes, mobile money operators and banks to expand investor participation in the capital markets products. Ndovu Wealth Rwanda Limited will conduct its test in the Fintech Regulatory Sandbox for the period of twelve months.
The Fintech Regulatory Sandbox is a framework established by the Capital Market Authority to encourage and support the promotion of a variety of Fintech innovations that have the potential to accelerate the capital market growth in Rwanda. It allows firms to test their Fintech innovations in a small scale, for a specific period of time before deployment to the wider market.
This initiative underscores the Authority’s commitment to leveraging technology to deepen the Rwanda’s capital markets, and to advance the country’s vision of becoming a leading international financial center and hub of Fintech innovation.
The Chief Executive Officer of CMA Mr. Romeo Ngarambe noted: “The Authority is pleased to admit this innovation into the Fintech Regulatory Sandbox. A successful test will pave the way for millions of Rwandans who are already mobile money and bank customers to conveniently access capital market investment products through technology.”