Rwanda Country Summary

FATF Status

Rwanda is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The latest Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Rwanda was undertaken in 2024. According to the follow-up Evaluation, Rwanda was deemed Compliant for 5 and Largely Compliant for 14 of the FATF 40 Recommendations. It was assessed Highly effective for 0 and Substantially Effective 0 of the Effectiveness ratings.

Rwanda is recognized as one of the least corrupt countries in Africa, with the government actively prioritizing anti-corruption measures and investigating allegations against high-ranking officials. Despite this, challenges persist at lower administrative levels, where corruption remains a concern, particularly in customs and tax administration, impacting the overall investment climate.

In terms of crime resilience, Rwanda faces issues such as human trafficking, illicit trade, and cybercrime, but it maintains a stable governance structure that emphasizes crime prevention and victim support. While the judiciary is influenced by political factors and law enforcement resources are limited, the country benefits from strong territorial integrity and international cooperation against organized crime, although civil society's capacity to address these issues is hindered by significant restrictions.

Rwanda has made significant strides in enhancing its economy and investment climate over the past decade, focusing on private sector-led growth through comprehensive business reforms that simplify regulatory processes and reduce bureaucratic hurdles. The government has established initiatives such as the Kigali International Financial Centre and the Manufacture and Build to Recover Program to attract foreign investment and position Rwanda as a regional economic hub. However, challenges persist, including complex tax administration, high operational costs due to the landlocked geography, and issues related to corruption and competition from state-owned enterprises, which can deter foreign investors and complicate business operations.