· A $250 million investment fund called Virunga Africa Fund I will be invested in sectors capable of driving economic growth and social transformation across Africa.
· The Fund was announced by The Kigali International Financial Centre.
· The anchor investors of the fund are the Qatar Investment Authority (QIA) and Rwanda Social Security Board (RSSB).
A $250 million investment fund called Virunga Africa Fund I will be invested in sectors capable of driving economic growth and social transformation across Africa. The Fund was announced by The Kigali International Financial Centre. The anchor investors of the fund are the Qatar Investment Authority (QIA) and Rwanda Social Security Board (RSSB). An independent investment firm Admaius, will manage the Fund with Donald Kaberuka, the former President of the African Development Bank Group, acting as Non-Executive Chairman. Kigali International Financial Centre (KIFC) will act as a centralized holding presence for financial activities across Africa. Headquartered in Kigali, the other offices of the Fund will be located in Kenya, Tunisia and Côte d’Ivoire, and the United Kingdom.
The fund targets to invest in projects that will increase access to essential services including healthcare, education, digital infrastructure, and financial services to create long-term value leading to economic and social transformation. Nick Barigye, the Chief Executive of Rwanda Finance Limited, the agency leading the development and promotion of the Kigali International Financial Centre invited regional and international players to transform the investment landscape of Africa. Regis Rugemanshuro, Director General of the Rwanda Social Security Board, was confident that the Fund will unlock tremendous value and deliver real development impact across the continent.
