Investment

Developmental Impact and ESG

Agaciro 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.

Developmental Impact

For each investment, the Primary Impact Indicators and two Supporting Impact Indicators will be established and monitored to track alignment and overall development impact (ex-ante and ex-post). Indicative development impact indicators consistent with NST2 objectives may include employment creation, export growth and foreign exchange generation, domestic value addition and industrial development, and infrastructure capacity expansion. These indicators are intended to guide impact assessment at a high level while maintaining flexibility across sectors and investment types.

We measure the developmental impact of our underlying portfolio companies through specific sector assigned matrices which they are expected to meet.

Our investment outcomes are aligned to the United Nations Sustainable Development Goals (UNSDGs)

Environmental, Social and Governance (ESG)

Agaciro employs responsible investing practices that take into account environmental, social and governance (ESG) factors to manage risk and generate sustainable, long-term returns.

Agaciro is committed to assessing and mitigating ESG-related risks and impacts within its investment portfolio. Accordingly, ESG-related risks and considerations will be incorporated across the investment process. Where appropriate, Agaciro may commission specialist external ESG consultants to support with the ESG Policy, Due Diligence and Monitoring related processes.

Furthermore, Agaciro will not invest in activities that are inconsistent with internationally recognized Environmental, Social, and Governance standards. In particular, the Fund will apply the IFC Exclusion List as a baseline screening tool and will refrain from investing in sectors or activities prohibited under this framework. This ensures that the portfolio avoids investments associated with significant environmental harm, illegal activities, or unacceptable social impacts.