The Kigali International Financial Centre (KIFC) has announced the establishment of the Virunga Africa Fund I, a $250 million fund that will invest in crucial sectors driving Africa’s economic and social transformation.
The fund will support key sectors that will help Africa achieve economic and social transformation.
The Kigali International Financial Centre is a financial centre that will transform Rwanda into an international financial destination for investors seeking opportunities across the African continent.
The top two anchor investors in Virunga Africa Fund which would be headquartered in Kigali are Qatar Investment Authority (QIA) and Rwanda Social Security Board (RSSB). Admaius, an independent investment firm with a highly skilled pan-African investment team will manage the fund.
The fund seeks to make investments that will have a positive impact on Rwandans and others on the continent. This contributes to the development of a vibrant private sector in Africa that is self-reliant while reducing dependence on foreign imports.
Investment projects will expand access to essential services like education, healthcare, digital infrastructure, and financial services, while also guiding businesses through digital transformations that create long-term value while taking advantage of post-Covid opportunities, secular growth trends, and strong demographic tailwinds.
“For investors of such standing to choose the Kigali International Financial Centre to host their fund sends a great signal. It shows that the KIFC is a compliant and attractive jurisdiction for Pan-African investment,” Nick Barigye, CEO of Rwanda Finance, the agency leading the development and promotion of the Kigali International Financial Centre, said.
“Investors see that Rwanda offers them strategic advantages; these include good governance, high levels of connectivity, efficiency, transparency, and an ease of doing business which has been internationally recognised.
“KIFC looks forward to the success of the Virunga Africa Fund I and welcome more regional and international players who wish to transform the investment landscape of Africa.”
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