RWANDA – The Kigali International Financial Centre (KIFC) has announced a US$250 million Virunga Africa Fund I to invest in vital sectors that will drive economic and social transformation across the African continent.
“Virunga Africa Fund I affirms our belief that international investors are increasingly seeing the huge opportunities Africa offers,” Regis Rugemanshuro (pictured), Director General of the Rwanda Social Security Board, said.
The Fund’s targeted investments will deliver tangible change for Rwandans and for people across the continent.
It will produce a more dynamic private sector in Africa and make the continent more self-reliant by reducing the need for foreign imports. Investment projects will increase access to essential services including healthcare, education, digital infrastructure, and financial services.
The Fund will leverage strong in-house and industry sector expertise to guide businesses through digital transformation and create long-term value, capitalising on post-Covid opportunities, strong demographic tailwinds, and secular growth trends.
“For investors of such standing to choose the Kigali International Financial Centre to host their fund sends a great signal. It shows that the KIFC is a compliant and attractive jurisdiction for Pan-African investment,” Nick Barigye, CEO of Rwanda Finance, the agency leading the development and promotion of the Kigali International Financial Centre, said.
“Investors see that Rwanda offers them strategic advantages; these include good governance, high levels of connectivity, efficiency, transparency, and an ease of doing business which has been internationally recognised.
The KIFC was recently recognised as one of the financial jurisdictions likely to become more significant by the Global Financial Centres Index (GFCI).