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Agaciro supports Rwanda's national development objectives and aligns its investment activities with the priorities of the National Strategy for Transformation 2 (NST2). Investments will seek to generate sustainable financial returns while contributing to sustainable livelihoods and Rwanda's long-term economic transformation.
Investment
For each investment, one Primary Impact Indicator and two Supporting Impact Indicators are set and tracked before and after the investment, to measure alignment and overall development impact.
Agaciro invests responsibly: environmental, social, and governance (ESG) factors are built into every stage of the investment process to manage risk and generate sustainable, long-term returns. Where appropriate, the Fund commissions specialist external ESG consultants to support the ESG policy, due diligence, and monitoring.
Furthermore, Agaciro will not invest in activities that are inconsistent with internationally recognized Environmental, Social, and Governance standards. In particular, the Fund will apply the IFC Exclusion List as a baseline screening tool and will refrain from investing in sectors or activities prohibited under this framework. This ensures that the portfolio avoids investments associated with significant environmental harm, illegal activities, or unacceptable social impacts.
Investment outcomes are aligned to the United Nations Sustainable Development Goals (UN SDGs), and each portfolio company is measured against sector-specific impact matrices it is expected to meet.
At a high level, Agaciro Development Fund seeks to invest in market leaders or defensible niche players that generate economic impact including via export orientation or import substitution, domestic value addition and employment creation.
Read the full pageAs Rwanda's long-term development focused sovereign wealth fund, Agaciro Development Fund seeks to execute commercially attractive investments that drive development in sectors aligned with the National Strategy for Transformation 2 (NST2).
Read the full pageWe have a rigorous top-down and bottom-up investment approach which follows a multi-stage screening and two-stage approval process that extends from the investment team to the board investment committee.
Read the full pageAgaciro tracks risk investment by investment, checking that each position performs and that every risk taken is adequately compensated for.
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