The inception of Agaciro Development Fund is traced back to 2011 when Rwandans gathered at the ninth Umushyikirano (National Dialogue Council) chaired...
The inception of Agaciro Development Fund is traced back to 2011 when Rwandans gathered at the ninth Umushyikirano (National Dialogue Council) chaired by His Excellency President Paul Kagame came up with an idea to establish a sovereign wealth fund. The Fund was then launched officially by President Kagame on 23 August, 2012. The name “Agaciro” conveys the idea of “Dignity” which was embraced as Rwanda’s key moral value in its journey towards sustainable socio-economic development.
Under the visionary leadership of His Excellency President Kagame, the Fund was set up to build up public savings to achieve self-reliance, maintain stability in times of shocks to the national economy and accelerate Rwanda’s socio-economic development goals. Prosperity for generations of Rwandans is the core objective of the Fund.
In 2013, the Fund was registered with Rwanda Development Board as a corporate trust fund under registration No103050268. The Fund operates in accordance with Law No 20/2013 of 25/03/2013 regulating the creation of trusts and trustees as a sovereign wealth fund wholly owned by the people of Rwanda. When the Fund was instituted, its initial assets were contributions by Rwandans at home and in diaspora, private sector, and friends of Rwanda. At the onset, collected funds were invested in T-bonds issued by the Government and with banks in fixed term deposits.