Investment

Our Investment Approach

As Rwanda’s long term development focus sovereign wealth fund, Agaciro Development Fund seeks to execute commercially attractive investments that drive development in sectors aligned with National Strategy for Transformation 2 (NST 2).

Geography:

We are predominantly invested in Rwanda but have the capacity to invest up to 30% of our portfolio outside Rwanda.

Sectors

We are sectoragnostic, however our preferred sectors are in ICT, Financial Services, Transport and Logistics, Agriculture and Agro-Processing, Industrials and Manufacturing.

Asset Classes

We invest in both equity and fixed income. Under equity, we invest in private equity/Unlisted Equity. Under fixed income, we invest in sovereign and corporate debt/issuances, both listed and unlisted.

Direct and Indirect Investments

We invest both directly as Agaciro Development Fund but are also seen keen to partner with Funds to access indirect investment whether there might be strategic alignment.

Instruments

We use a broad category of instruments, ranging from Debt (Senior, Secured, Unsecured, Subordinated Debt Mezzanine, Junior Debt). Under equity, we invest in Preferred Shares, Common Equity Tier 1, Convertible Debt.