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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.
Investment
We back mid-stage growth companies in Rwanda and beyond that are profitable, generate cash, and can declare and pay a dividend in the short to medium term. We also partner with fund managers who have established track records.
We avoid greenfield investments unless they are significantly de-risked through contracted offtake or supply arrangements. We look for strong management and governance, meaning a constituted board and audited financial statements, and for companies that can scale and crowd in capital alongside the Fund.
Under fixed income, we invest in high quality yielding assets with significant downside protection, assessed against the cash flow the business generates.
As 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 pageAgaciro 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.
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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