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KIFC establishes $250,000,000 Virunga Africa Fund I for pan-African businesses

The Virunga Africa Fund I is targeted at businesses in sectors having the capacity to accelerate the growth of Africa through economic and social transformation



Kigali International Financial Centre, Virunga Africa Fund I
Kigali International Financial Centre

Kigali International Financial Centre (KIFC) has announced the establishment of a $250,000,000 Virunga Africa Fund I to be invested in pan-African businesses.

Major investors in the Virunga Africa Fund I include Qatar Investment Authority (QIA) and Rwanda Social Security Board (RSSB). Admaius, an independent investment firm with a highly experienced pan-African investment team is the Fund manager. 

Included in the senior leadership team are Donald Kaberuka, former President of the African Development Bank Group, Marlon Chigwende, Davinder Sikand, Amine Allam, Maty N’diaye and Anita Umulisa, the CFO of the firm.

Headquartered in Kigali, the Virunga Africa Fund I serves as a centre for financial activities across Africa and has branch offices in Kenya, Tunisia and Côte d’Ivoire, and the United Kingdom.

Also, the Fund will invest in projects with the potential to increase access to essential services such as healthcare, education, digital infrastructure, and financial services.

The Fund will leverage strong in-house and industry sector expertise to guide businesses through digital transformation and create long-term value, capitalizing on post-Covid-19 opportunities, strong demographic tailwinds, and secular growth trends,” the firm wrote.

Nick Barigye, the chief executive of Rwanda Finance Limited, the agency leading the development and promotion of the Kigali International Financial Centre said the investment preference of KIFC is proof of compliance and attractiveness of the jurisdiction for Pan- African investment.

Investors see that Rwanda offers them strategic advantages; these include good governance, high levels of connectivity, efficiency, transparency, and ease of doing business which has been internationally recognised. KIFC looks forward to the success of the Virunga Africa Fund I and welcomes more regional and international players who wish to transform the investment landscape of Africa,” he said.

Regis Rugemanshuro, director-general of the Rwanda Social Security Board, said the Fund will unlock tremendous value and deliver real development impact benefitting people across the continent – at a time when economies are trying to recover from the Covid-19 pandemic. 

We appreciate the Qatar International Authority partnering with RSSB as cornerstone investors in this historic project which will improve the lives of people in Rwanda, and across Africa,” he said.

​Joan Aimuengheuwa is a content writer who takes keen interest in the scopes of innovation among African startups. She thrives at meeting targets and expectations. Contact: [email protected]

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