The Cabinet approved the Presidential Order demonetizing old Frw 500, Frw 1000, Frw 2000 , and Frw 5000 banknotes.
This decision involves the withdrawal of these old currency notes from circulation. The notes that are being phased out include Frw 500 notes printed in 2004 and 2013, Frw 1000 notes printed in 2004 and 2015, Frw 2000 notes printed in 2007, and Frw 5000 notes printed in 2004 and 2009.
The deadline for the use of these old notes is set for 12 months. After this period, these notes will no longer be valid for transactions in Rwanda.
In addition to the demonetization, the Cabinet was briefed on the new public transport model designed to improve the efficiency, reliability, and environmental sustainability of transportation in Kigali. This system is intended to make urban mobility more convenient for residents, with plans for possible expansion to other urban areas in Rwanda.
Another significant topic discussed was Rwanda's updated Nationally Determined Contribution (NDC 3.0), which outlines the country's climate action plan. This plan focuses on reducing greenhouse gas emissions and boosting climate resilience across the nation.
The Cabinet also approved a partnership agreement between the Government of Rwanda and Aegle Onco Care Center Ltd to establish nuclear medicine services at the National Cancer Center.
Several draft laws were discussed and approved by the Cabinet, including the draft law governing the National Bank of Rwanda.
Another significant approval was the draft law ratifying the loan agreement between the Government of Rwanda and the Export-Import Bank of China for the Giseke Irrigation Project.
The Cabinet also ratified a draft law approving the Grant and Credit Facility Agreement between the Government of Rwanda and the French Development Agency (Agence Française de Développement), which will support the development of technical and vocational education and training (TVET) in Rwanda.
The Cabinet also approved several appointments within key government ministries and institutions. Notably, Ms. Madeleine Nirere was reappointed as the Chief Ombudsman.
Ambassador Fidelis Mironko was appointed as the Permanent Secretary of the Ministry of Foreign Affairs and International Cooperation, while Mr. Jean Marie Vianney Ndayizigiye was appointed as the Permanent Secretary of the Ministry of Health.
Amb. Mironko is an experienced career diplomat with expertise in bilateral relations and international representation.
He has served in key foreign missions across Europe, the Middle East, and North America, strengthening Rwanda's diplomatic ties.
Notable roles include Ambassador to Türkiye (2020â€"2023), First Counsellor at Rwanda's High Commission in London (2015â€"2020), and Second Counsellor at the Embassy in Washington DC (2010â€"2015).
He holds a Master of Arts in Political Science (International Relations) from Western Illinois University and a Bachelor of Arts in International Relations from St. Cloud State University.
Meanwhile, Ndayizigiye is a seasoned Internal Auditor and Fraud Examiner with over 10 years of expertise in audit engagement, risk management, governance, fraud investigation, and financial control across diverse sectors, including public institutions, universities, banking, and energy.
He has a proven track record of strengthening internal audit systems, enhancing compliance cultures, and helping institutions achieve unqualified audit opinions.
His notable roles include serving as the Head of Internal Audit at Rwanda Energy Group (Oct 2021 prior to new appointment), Unguka Bank Plc (Apr 2019â€"Oct 2021), and the University of Rwanda (Jul 2016â€"Feb 2019). He holds a Master of Science in Accounting from the University of Rwanda (2015) and a Bachelor of Accounting Sciences from the National University of Rwanda (2008).
The Cabinet also approved several other policies, programs, and strategies. These included the consolidated financial statements for the Government of Rwanda for the year 2024/2025, the approval of applications for mineral licenses, and the endorsement of Rwanda's Sustainable Land Management Investment Framework (SLM-IF).
Furthermore, the Cabinet approved the Agrément for several new diplomats representing Rwanda and international organizations. These included ambassadors from Qatar, Spain, Switzerland, Malta, and several other countries.
In addition to these approvals, the Cabinet was informed about upcoming events such as the 16 Days of Activism against Gender-Based Violence, which will run from 25 November to 10 December 2025.
The International Day for Persons with Disabilities, on December 3, 2025, and International Anti-Corruption Day, on December 9, 2025, will also be marked by various initiatives across the country.
The Cabinet also ratified the Treaty between Rwanda and Brazil on the transfer of sentenced persons and also ratified an agreement with the Government of Hongkong Special Administrative Region of the People's Republic of China regarding the elimination of double taxation and prevention of tax evasion.
IGIHE
Source : https://en.igihe.com/news/article/cabinet-approves-presidential-order-demonetizing-old-banknotes
