Rwanda’s apex bank has expressed concern over a growing reluctance among businesses to accept low-denomination coins, warning that all coins remain legal tender and must be honored in transactions.
- BNR warns businesses against rejecting small-denomination coins, especially the Rwf20, reminding them all coins remain legal tender.
- The rise of digital payments has led many merchants to neglect keeping coins for cash transactions.
- Large retailers such as pharmacies and supermarkets still withdraw coins, but smaller businesses often don’t.
- Digital payment fraud cases dropped from 5,000 to 3,000 year-on-year, thanks to awareness campaigns like Bimamatwi.
The issue came to light during the Monetary Policy and Financial Stability Committee press briefing held on February 19, after a journalist raised complaints from citizens who say some merchants refuse to take smaller coins.
According to these reports, several businesses reject Rwf20 coins when customers make cash payments. In some cases, merchants ask for a Rwf50 coin instead, or fail to return change altogether. For instance, when a buyer owes Rwf1,170, sellers allegedly reject Rwf20 and demand Rwf50, then neglect to return the Rwf30 balance.
“The Rwf20 coin is still legally accepted”
Chantal Kasangwa, Executive Director for Markets and Banking Operations at the National Bank of Rwanda (BNR), confirmed that the central bank is aware of the challenge and reaffirmed the validity of all coins currently in circulation.
“I would like to reassure the reporter that the Rwf20 coin is still legally accepted on the market,” The New Times quoted her as saying.
Kasangwa said six coin denominations remain active, Rwf1, Rwf5, Rwf10, Rwf20, Rwf50, and Rwf100, and are readily available through the central bank’s reserves.
Digital payments reshape cash habits
Kasangwa linked the shift in behavior to Rwanda’s rapid embrace of digital payments. As businesses increasingly rely on mobile money and other cashless platforms, fewer prioritize keeping coins on hand for small transactions.
“One of the reasons businesses tend not to accept those coins is that, due to the growing use of technology, a business or salesperson rarely anticipates giving lower denominations as change,” she explained.
“This results in them not going to banks or other financial institutions to request those coins.”
Africa, the explosive growth of mobile money which now drives about most of global transactions, has reshaped payment habits, making coins increasingly rare in urban commerce, even as cash remains vital in informal and rural markets.
While Rwanda continues its push toward a cashless economy, Kasangwa stressed that coins still play a crucial role in everyday commerce, particularly for low-value transactions.
She noted that large retailers such as pharmacies and supermarkets are among the few businesses that consistently withdraw coins, while many smaller enterprises assume most customers will pay digitally.
“We want to especially encourage big businesses,” she said. “We will speak with banks to encourage their clients to use coins so that they can reach citizens.”
Digital payment fraud cases decline
Beyond cash usage, the apex bank also highlighted encouraging trends in digital payment security. Reported fraud cases dropped from about 5,000 in December 2024 to around 3,000 in 2025, with mobile money remaining the most affected channel.
Moise Bigirimana, Acting Executive Director for Financial Sector Development and Conduct at BNR, attributed the decline to nationwide awareness initiatives, including Bimamatwi campaigns and digital payment education drives, that help users spot and avoid scams.
“These campaigns ensure that financial service consumers remain informed as fraudsters continuously adapt their tactics,” Bigirimana said.
