Rwanda allows casinos accept foreign cash as licences restart
Rwanda has now allowed casinos and other specific companies to take foreign currency payments. At the same time, following a more than year-long pause, the government has started to licence gambling operators again.
Reportedly, casinos, travel agencies, authorised real estate companies, and businesses associated with the Kigali International Financial Center (KIFC) will be allowed to accept payments in foreign currencies like US dollars and euros without prior authorisation, according to a directive issued by the National Bank of Rwanda (NBR).
The decision followed consultations between the central bank, the Ministry of Trade and Industry, and the Rwanda Development Board (RDB). Officials said the new rules were designed to address problems linked to unauthorised foreign transactions that had weakened the Rwandan franc.
Move to attract foreign money?
At a monetary policy meeting on 18 September 2025, central bank governor Soraya Hakuziyaremye said inspections had uncovered more than 700 contracts concluded in foreign currency without approval. She explained that the directive clarifies which businesses can transact in foreign currency while ensuring that Rwandan residents are not obliged to pay in anything other than the local currency.
Casinos are seen as key to Rwanda’s tourism industry. A 2024 RDB report highlighted their role in attracting foreign visitors and generating revenue. Tourism analyst Jean-Paul Uwimana told local media that allowing casinos to accept foreign currency would make them more appealing to international clients.
However, the new directive also places obligations on casinos and other businesses. Prices must be displayed in both Rwandan francs and foreign currency, using the NBR’s daily exchange rate, and all establishments must accept francs without additional charges.
Non-compliance could result in fines of Rwf 5 million (€2,923) for a first offence and Rwf 10 million (€5,847) for repeat offences. Applications for approval in other sectors will be reviewed within 20 working days, with a possible 10-day extension.
Resumption of gambling licences too
Alongside the directive, the RDB has officially resumed issuing gambling licences, which were suspended in June 2024. The agency said the pause was necessary to review the legal and regulatory regime as major issues such as weak enforcement, under-reporting of profits and rising cases of gambling addiction were flagged.
In a statement on 1 August 2025, the RDB confirmed that former gambling laws and ministerial orders remain in effect until new regulations are implemented. Potential investors, particularly those interested in land-based casinos, online platforms and sports betting, have been invited to submit expressions of interest by 30 September.
Rwanda currently has more than 30 licenced operators offering services ranging from sports betting to lotteries. These businesses will now operate under a higher tax rate of 40 per cent, up from 13 percent, as approved by parliament in May.
Globally, the gambling industry is valued at $269 billion in 2025 and projected to grow to $435 billion by 2030. Rwanda trusts that its updated regulatory system and investor outreach will solidify its position in Africa’s expanding market while ensuring tighter control over the sector.
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