Agaciro Development Fund is Rwanda's sovereign wealth fund, investing national savings for long-term resilience, national prosperity, and sustainable value creation.
FRW456bn
Assets under management
Proposed at the 2011 Umushyikirano and launched on 23 August 2012, Agaciro grows a self-sufficient fund with a long-term horizon — investing on a commercial basis to build up public savings and catalyse economic impact in Rwanda.
More on our history456bn
FRWAssets under management25
Portfolio companies and strategic national investments7
Investment sectorsFour commitments shape how we steward national savings and judge every opportunity.
Mission and visionAgaciro means dignity. The Fund was proposed by Rwandans and seeded by Rwandans, at home and in the diaspora.
We maximise return over the long term so as to reduce Rwanda's debt burden and secure a better Rwanda for future generations.
We invest on a commercial basis in market leaders and defensible niche players, and evaluate every opportunity on its own merits.
A Board appointed by Cabinet, accountable to the Government of Rwanda through the Minister of Finance and Economic Planning.
Twenty-five holdings across seven sectors, from banks and exchanges to cassava, coffee, tin and connectivity.
Explore the portfolioThe Development Bank of Rwanda is Rwanda's national development finance institution. It provides long-term and inclusive financing to support priority sectors such as agriculture, energy, housing, education, exports, and infrastructure.
Financial Services
Bank of Kigali is one of Rwanda's leading commercial banks, providing banking and financial services to individuals, businesses, and institutions. It plays an important role in financial sector development, savings mobilization, and access to finance.
Financial Services
Rwanda Stock Exchange is Rwanda's national securities exchange. It provides a regulated marketplace for listing, buying, and selling financial instruments, supporting capital mobilization and long-term investment in Rwanda.
Financial Services
I&M Bank Rwanda is a commercial bank offering personal, business, institutional, and corporate banking services. The bank supports Rwanda's financial sector through banking products, digital services, and financing solutions.
Financial Services
TDB Group is an African regional development finance institution established to finance trade, regional integration, and sustainable development. Agaciro became an institutional shareholder in TDB, strengthening regional investment diversification.
Financial Services
GTBank Rwanda is part of Guaranty Trust Holding Company and provides retail, corporate, digital, and business banking services. It supports financial access and modern banking solutions for individuals and enterprises.
Financial Services
Rwanda National Investment Trust promotes collective investment and savings through fund management products such as the RNIT Iterambere Fund. It supports Rwanda's capital market development and savings culture.
Financial Services
BSC is an ICT and broadband connectivity company providing internet, connectivity, cloud, and digital infrastructure solutions for citizens, businesses, and institutions.
Telecommunications, Media and Technology
Irembo is Rwanda's digital public service platform, enabling citizens and businesses to access government services online. It supports digital transformation, service efficiency, online payments, and improved access to public services.
Telecommunications, Media and Technology
AOS is a Rwanda-based ICT service provider and operator of the National Data Center. It offers services such as cloud hosting, web and mail hosting, server colocation, cybersecurity, backup, and IT consulting.
Telecommunications, Media and Technology
KT Rwanda Networks is a 4G LTE infrastructure company providing wholesale mobile broadband network services. It supports national connectivity, digital inclusion, and Rwanda's ambition to become a regional ICT hub.
Telecommunications, Media and Technology
Rwanda Printery Company Ltd is a printing company owned by the Government of Rwanda under Agaciro Development Fund Corporate Trust Ltd, established by the Cabinet meeting held on 27 November 2013 as a result of merging three independent printeries previously managed separately by the National Electoral Commission, Rwanda Education Board, and Rwanda Biomedical Centre.
Telecommunications, Media and Technology
Kinazi Cassava Plant is a leading cassava-processing company based in Rwanda's Southern Province. It processes fresh Rwandan cassava into high-quality cassava flour for local, regional, and international markets.
Agriculture and Agro-Processing
Rwanda Farmers Coffee Company is a coffee roasting and packaging company producing Rwandan coffee under the Gorilla's Coffee brand. It promotes value addition in Rwanda's coffee sector by sourcing quality coffee from Rwandan farmers and cooperatives.
Agriculture and Agro-Processing
Africa Improved Foods is a nutrition-focused food manufacturing company producing high-quality fortified foods. Its work supports nutrition, local sourcing, job creation, and the fight against malnutrition.
Agriculture and Agro-Processing
The East Africa Exchange is a regional commodity exchange legally registered throughout East African Community partner states and currently established with a head office in Kigali, Rwanda.
Agriculture and Agro-Processing
Rwanda Interlink Transport Company is a public-private transport company providing reliable, safe, and affordable public transport services. It improves connectivity between communities and supports mobility across Rwanda and the region.
Transport and Logistics
Prime Economic Zones supports Rwanda's industrial and investment infrastructure through the development and operation of economic zone facilities. It contributes to industrial growth, manufacturing, logistics, and business competitiveness.
Transport and Logistics
Trinity Metals is a responsible producer of tin, tungsten and tantalum, employing eco-conscious and ethical practices in every area of its business operations.
Mining
Zaria Court is an urban lifestyle and hospitality destination focused on sports, entertainment, culture, and local creativity. It supports Rwanda's growing hospitality, tourism, sports, and creative economy ecosystem.
Hospitality
Agaciro means dignity. National savings invested with purpose and self-reliance.
A long-term horizon that reduces Rwanda's debt burden and secures a better Rwanda for future generations.
Investing on a commercial basis, without undue risk, so returns build up public savings.
We are sector-agnostic, with preferred sectors in ICT, financial services, transport and logistics, agriculture and agro-processing, and industrials.
Banks, development finance institutions, and capital market infrastructure that mobilise savings and widen access to finance in Rwanda and the region.
View holdingsConnectivity, digital public services, and data infrastructure supporting Rwanda's ambition to become a regional ICT hub.
View holdingsValue addition close to the farm — processing Rwandan cassava, coffee, tea, rice and fortified foods for local, regional and international markets.
View holdingsPublic transport and economic zone infrastructure that connect communities and move goods across Rwanda and the region.
View holdingsIndustrial infrastructure, inputs, and commodity trading platforms that raise domestic value addition and business competitiveness.
View holdingsResponsible extraction and processing of Rwanda's mineral resources under ethical and eco-conscious practices.
View holdingsDestinations supporting Rwanda's growing hospitality, tourism, sports, and creative economy ecosystem.
View holdings
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