ATM cards 'soon to be manufactured in Rwanda'

Jun 08, 2011

Individuals living in Rwanda could soon have access to locally-produced Visa chip cards for use at ATM machines.

Currently, it takes between three and four months for people to receive the items once ordered, with the waiting time sometimes stretching even further, East African Business Week reports.

However, Government and private sector consortium SIMTEL has claimed it is in the final stages of a project to start producing the cards in Rwanda.

It is hoped this will reduce waiting times and turn the country into a regional financial hub, thus improving ebanking services.

Sigrid Bruch, Chief Executive Officer at SIMTEL, said: "We are in talks with banks."

No word was given on when production of the cards will begin, although equipment for their manufacture has already been installed.

Other attempts are also being made to improve access to finance for Rwandans, as the Urwego Opportunity Bank launched a new mobile banking scheme earlier this year, the New Times reported.