2011
Umushyikirano proposes a sovereign fund
At the ninth National Dialogue Council, chaired by His Excellency Paul Kagame, Rwandans collectively proposed a sovereign wealth fund to support national development.
Our History
Proposed by Rwandans in 2011, launched in 2012, and an investment company wholly owned by the Government of Rwanda since 2013.
Origin
Named for a value, not a strategy
The inception of Agaciro Development Fund dates back to 2011, during the ninth Umushyikirano (National Dialogue Council), chaired by His Excellency Paul Kagame, where Rwandans collectively proposed the establishment of a sovereign wealth fund to support national development.
Following this national consensus, the Fund was officially launched on 23 August 2012. The name “Agaciro”, meaning dignity, reflects a core moral value embraced by Rwandans and underscores the country's commitment to self-reliance and sustainable socio-economic development.
At its inception, the Fund's initial assets consisted of voluntary contributions from Rwandans at home and in the diaspora, as well as from friends of Rwanda.
Since 2013, the Agaciro Development Fund has operated as an investment company wholly owned by the Government of Rwanda and organised in accordance with Law N° 007/2021 of 05/02/2021 governing companies.
The Agaciro Development Fund is governed by a Board of Directors appointed by the Cabinet. The Board is accountable to the Government of Rwanda, through the Minister of Finance and Economic Planning, for ensuring that the Fund achieves its objectives of safeguarding citizens' contributions and generating returns on its investments, while upholding the highest standards of corporate governance and professional management across the organisation and its subsidiaries.
Four moments that shaped the Fund
2012
Agaciro is launched
The Fund was officially launched on 23 August 2012, seeded by voluntary contributions from Rwandans at home, in the diaspora, and from friends of Rwanda.
2013
An investment company
Agaciro began operating as an investment company wholly owned by the Government of Rwanda, organised under the law governing companies.
2021
Governed under Law N° 007/2021
The Fund is organised in accordance with Law N° 007/2021 of 05/02/2021, with a Board of Directors appointed by Cabinet and accountable through the Minister of Finance and Economic Planning.
