In August 2024, the African Economic Research Consortium (AERC) released the Development of the Digital Financial Ecosystem in Rwanda: Drivers, Lessons and Way Forward (hereinafter referred to as "the Report"). The Report provides a detailed analysis of the development trajectory of Digital Financial Services (DFS) in Rwanda between 2011 and 2021, evaluating the impact of policy drivers, technological innovations, and financial inclusion on DFS growth. Additionally, the Report explores the opportunities and challenges related to improving internet connectivity, enhancing digital financial literacy, increasing interoperability between different service providers, and strengthening cybersecurity. Through a comprehensive assessment of Rwanda’s digital financial ecosystem, the Report presents a series of actionable recommendations aimed at further advancing DFS development.