KIGALI — For more than a week, customers of GTBank Rwanda have struggled to access their own money, as a system upgrade triggered widespread disruptions across the bank’s digital and branch services.

Mobile banking codes failed. Transfers stalled. Some accounts were debited without funds reaching their destination.

Across Kigali and other parts of the country, long queues formed at bank branches as customers sought answers.

The disruption, which began in the third week of March, has lingered longer than many expected — fueling frustration among clients who rely on the bank for daily transactions, including urgent payments such as taxes.

The bank says the problems stem from a planned migration to a new core banking platform.

Real-World Consequences

GTBank Rwanda, a subsidiary of Nigerian lender Guaranty Trust Holding Company Plc, recently transitioned to the Infosys Finacle system, a widely used banking platform designed to improve digital services and efficiency.

But in the days following the migration, customers reported being unable to access accounts through USSD (*600#), mobile apps, and internet banking.

Some transactions failed or were delayed, with reports of accounts being debited while recipients did not receive funds immediately. Others said customer care lines were difficult to reach at the peak of the disruption.

“I have funds but I can’t use them,” one customer wrote on social media, reflecting a broader wave of complaints that intensified over several days.

‘Your Money Is Safe’

The bank has acknowledged the disruption and attributed it directly to the system transition.

In public responses, GTBank Rwanda has repeatedly assured customers that their funds are secure and that the issues are temporary.

“We sincerely apologize for any inconvenience caused,” the bank said, adding that the migration had been completed and services were being restored.

By late March, the bank indicated that key services — including USSD — were back online.

However, some customers continued to report lingering issues into the following week.

The bank has urged affected users to contact its support channels or visit branches for individual case resolution.

Under Pressure

The disruption comes at a time when GTBank Rwanda remains financially stable, though relatively small in Rwanda’s banking sector.

The bank operates about 14 branches nationwide and competes with larger institutions such as Bank of Kigali, Equity Bank and I&M Bank.

As of mid-2025, it reported assets of about Frw 188.6 billion and a profit after tax of Frw 2.38 billion in the first half of the year.

Its capital position is particularly strong, with a core capital ratio of around 43 percent, far above regulatory requirements.

Its strategy has traditionally been conservative, with a significant share of assets invested in government securities rather than aggressive lending — a model that prioritizes stability but limits market share.

Ownership and Regional Strategy

GTBank Rwanda is majority-owned through a regional structure linked to its parent group.

About 96.38 percent is held by Guaranty Trust Bank Kenya Limited, while 3.62 percent is owned by Rwanda’s Agaciro Development Fund.

Its parent, GTCO, operates across multiple African markets and has been rolling out digital upgrades across its subsidiaries in recent years, including similar system migrations in other countries.

Digital Push

Large-scale banking system migrations are complex and often come with temporary disruptions. But when outages stretch over several days, they can test customer trust.

In Rwanda, where digital banking adoption has grown rapidly, reliability is increasingly critical — especially for customers making time-sensitive payments.

Some customers have called for stronger communication and quicker resolution, while others have appealed to regulators to ensure accountability.

By early this week, GTBank Rwanda said most services had returned to normal, though the trend on social media shows little or nothing has changed.

There is no indication of deeper financial or regulatory problems at the bank. The disruption appears tied specifically to the migration process.

But for customers affected over several days, the episode has underscored a simple expectation.

In banking, access is everything.

And when access is interrupted — even temporarily — trust can be harder to restore than systems themselves.