Key Moments:
- Rwanda has enabled casinos and certain firms to accept foreign currencies such as US dollars and euros, bypassing the need for prior approval.
- The government has restarted the gambling operator licensing process after a suspension that began in June 2024.
- Licensed gambling operators in Rwanda now face a higher tax rate of 40 per cent, up from 13 percent, as legislated in May.
Regulatory Shift Welcomes Foreign Payments
The National Bank of Rwanda (NBR) has issued a directive allowing casinos, travel agencies, and authorized real estate companies to accept foreign currencies. Entities linked with the Kigali International Financial Center (KIFC) may also receive payments in dollars and euros. This measure removes the need for prior authorization. It also streamlines the acceptance of foreign currencies.
The central bank released the directive after talks with the Ministry of Trade and Industry and the Rwanda Development Board (RDB). They aimed to address unauthorized foreign currency transactions and the depreciation of the Rwandan franc.
Monetary Policy and Industry Impact
At a monetary policy meeting on 18 September 2025, central bank governor Soraya Hakuziyaremye said inspections revealed over 700 contracts in foreign currency without approval. She clarified that the new policy lists which businesses can transact in foreign currency. It also ensures that local residents cannot be forced to pay in anything other than the franc.
Officials cite casinos as key contributors to Rwanda’s tourism sector. According to a 2024 RDB report, casinos help attract international tourists and support revenue growth. Tourism analyst Jean-Paul Uwimana told local media that foreign currency payments would make Rwandan casinos more attractive to international visitors.
Operational Requirements and Enforcement
The new directive sets out specific operational protocols for businesses. All prices must be listed in both Rwandan francs and the applicable foreign currency, using the daily exchange rates provided by the NBR. Additionally, businesses are required to accept francs with no extra charges to customers.
| Infraction | Penalty |
|---|---|
| First offense | Rwf 5 million (€2,923) |
| Subsequent offenses | Rwf 10 million (€5,847) |
Review of approval applications in other sectors will occur within 20 working days, extendable by 10 additional days if necessary.
Restart of Gambling Licenses and Updated Taxation
The Rwanda Development Board reinstated gambling licenses. The process had been on hold since June 2024 during a review of legal and regulatory frameworks. The suspension was implemented amid concerns over weak law enforcement, profit under-reporting, and a rise in gambling addiction.
A 1 August 2025 statement confirmed that existing laws and ministerial orders will remain valid until new regulations are enacted. The agency also invited interested parties to submit applications for land-based casinos, online gambling, and sports betting by 30 September.
Currently, Rwanda licenses over 30 operators offering services from lotteries to sports betting. These operators are now subject to a higher tax rate of 40 per cent, replacing the previous 13 percent rate, after a parliamentary decision in May.
Gambling Industry Outlook
The global gambling sector holds a valuation of $269 billion in 2025 with forecasts pointing to growth of up to $435 billion by 2030. Rwanda wants to strengthen its position in Africa’s gaming market through new regulatory reforms. It is also engaging more with potential investors to improve oversight and support growth in the sector.
- Author
Daniel Williams
