Taarifa Rwanda

Agaciro Development Fund Investments Hit Rwf51 Billion

Agaciro Development Fund has registered Rwf51.5 billion of investments in six years according to its Chief Investment Officer, Charles Mugabe.

Agaciro Development Fund was mooted during the 2011 National Dialogue and was launched in August 2012 to mobilize public savings to achieve self-reliance and accelerate socio-economic development.

Mr Mugabe said that this investment was achieved by buying shares and giving loans to banks which in turn earned Agaciro Development Fund interest.

He says that investments worth Rwf51 billion are equivalent to 70 percent.

“Now the Fund has slightly over Rwf51billion of which 70% is in value bonds to be loaned to banks; 30% are in shares that we buy from different markets.”

Mugabe assures that “Agaciro Development Fund” is well managed.

“There is hope because the Fund is well managed. We don’t invest money anyhow. We first conduct a study of where we are going to invest, assess risks we may encounter and how much money we will invest,” he said, adding that they also look at how the investment profitability after which they take investment decision.

Mugabe added that the fund started with Rwf18.5 million. Now, it has more than Rwf50 billion.

“I think you probably know that when the fund started in 2011 and officially approved in the following year, it had Rwf18.5 million. Now, we are at Rwf51 billion. So, we have earned more than Rwf10 billion in six years. Obviously, a big effort was made in investing money.

Efforts were also invested to increase Agaciro Development Fund assets. Mugabe says that the government is still doing its best to grow the Fund.

“You heard that the government entrusted Agaciro Development Fund with all the shares it has in all the companies. The fund will be managing all the government shares. This shows that the fund has the potential to multiply its assets. In two or three years from now, it will be a prominent fund in Africa.” he said.

Rwandans are encouraged to continue putting money into the Fund in order to boost it and keep up the momentum. Supporting this fund means supporting the sovereignty of Rwandans.

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