Agaciro Development Fund
Agaciro Development Fund is Rwanda's sovereign wealth fund, wholly owned by the people of Rwanda, managing national savings and investments in Government T-bonds and commercial bank term deposits to build self-reliance and economic stability. Founded in 2012, it serves Rwandan citizens and the diaspora.
- Company typePrivate
- Founded2012
- HeadquartersKigali, Rwanda
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Agaciro Development Fund does
Agaciro Development Fund (AGDF) is Rwanda's sovereign wealth fund, established to build public savings, maintain economic stability during external shocks, and accelerate the country's socio-economic development. It was initiated by Rwandans at the 9th Umushyikirano (National Dialogue Council) in December 2011 and officially launched by President Paul Kagame on 23 August 2012. The fund is wholly owned by the people of Rwanda, registered with the Rwanda Development Board as AGDF Corporate Trust Ltd, and operates under Law No 20/2013 of 25/03/2013. AGDF's beneficiaries are Rwandan citizens at home and abroad, who can make voluntary contributions without minimum or maximum limits, alongside government allocations.
AGDF's core operational activity since 2014 has been investment in Government T-bonds and commercial bank term deposits, pursuing an asset allocation strategy that optimizes expected risk-adjusted returns over time. After 10 years of operation, the fund reached an asset value of 269 billion FRW (approximately $250M+ USD). The fund is governed by a Board of Trustees drawn from different sectors of the economy, approved by the Cabinet, and adheres to international sovereign wealth fund governance standards through full membership in the International Forum of Sovereign Wealth Funds (IFSWF) and voluntary adherence to the Santiago Principles.
AGDF has no commercial technology product, software offering, or fee-based pricing model. As a sovereign trust vehicle, it does not generate revenue in the traditional commercial sense; rather, it generates investment returns on its managed portfolio. Its distribution model relies on direct voluntary contributions, public communications (website, Facebook, Twitter, YouTube, Flickr), and participation in national forums such as Umushyikirano and the Inclusive FinTech Forum. The fund is headquartered at BPR PCD Towers, 7th Floor, Street No. KN 67, Kigali, Rwanda, with an estimated headcount of 11-50 employees.
Agaciro Development Fund firmographics
Firmographics- Name
- Agaciro Development Fund
- Legal name
- Agaciro Development Fund
- Website
- https://agaciro.rw
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Agaciro Development Fund is Rwanda's sovereign wealth fund, wholly owned by the people of Rwanda, managing national savings and investments in Government T-bonds and commercial bank term deposits to build self-reliance and economic stability. Founded in 2012, it serves Rwandan citizens and the diaspora.
- Ownership category
- akta.pro rank
Agaciro Development Fund industry classification
Industry- Product category
- Sovereign Wealth Fund
- NAICS
- Other Investment Pools and Funds (5259)
- SIC
- Federal & Federally-Sponsored Credit Agencies (6111)
- akta.pro primary industry
- Development Finance, Guarantees & Blended Finance Programs (BPADABAM)
Keywords
Where Agaciro Development Fund is headquartered
LocationHeadquarters
- HQ city
- Kigali
- HQ country
- Rwanda
- HQ region
- Africa
Offices1 record
Markets served
Agaciro Development Fund business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Others
Distribution channels1 record
Marketing channels4 records
Agaciro Development Fund product offering
Product offeringCore offering
Agaciro Development Fund is Rwanda's sovereign wealth fund that pools voluntary contributions from Rwandans at home and abroad to build public savings. It invests its assets primarily in Government T-bonds and commercial banks' term deposits to generate returns, while preserving capital to provide fiscal capacity during economic shocks and finance national socio-economic development priorities.
Product overview
Agaciro Development Fund operates as a sovereign wealth fund for Rwanda, not a technology product company. It does not offer software products, modules, or technology services. The organization manages a national investment fund focused on Government T-bonds and commercial banks' term deposits, with the stated purpose of fostering Rwanda's self-reliance and advancing economic development for future generations.
Differentiator
Problem solved
Functional benefit
Products and services
- Voluntary National Savings Contributions
- Government T-bond Investment Portfolio
- Commercial Bank Term Deposit Investments
Companies that use Agaciro Development Fund
Customer profileSegments1 record
Ideal customer profiles2 records
Agaciro Development Fund technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Agaciro Development Fund partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- CROSAPF (Co-investment Roundtable Of Sovereign And Pension Funds)coreCROSAPF was established in 2014 as a practical platform for sovereign and pension funds to identify, build trust, and successfully collaborate and co-invest. The platform facilitates communication through sharing potential co-investment opportunities, investment-related information, research, and know-how.
- IFSWF (International Forum of Sovereign Wealth Funds)coreIFSWF is a voluntary organisation of global sovereign wealth funds committed to promoting good governance and investment management practices through dialogue, research and self-assessment. Agaciro Development Fund is a full member and voluntarily upholds the Santiago Principles (Generally Accepted Principles and Practices for governance, investment and risk management).
- King Baudouin Foundation BelgiumminorAgaciro Development Fund conducted a study and benchmarking visit to Belgium with King Baudouin Foundation, engaging in exchanges regarding fund management and best practices.
Scale indicators2 records
Recent moves9 records
Expansion highlights4 records
Agaciro Development Fund competitors and assessment
Company assessmentBroad incumbents
- GIC (Singapore): Singapore's sovereign wealth fund managing the country's reserves. Comparable as an IFSWF peer benchmark for governance practices under the Santiago Principles, even though significantly larger and more globally diversified.
- Government Pension Fund Global (Norway): The world's largest sovereign wealth fund managed by Norges Bank Investment Management. Relevant as the global SWF benchmark and fellow IFSWF full member, though vastly larger and more diversified than Agaciro.
Direct peers
- Nigeria Sovereign Investment Authority (NSIA): Nigeria's sovereign investment authority managing three funds (Future Generations, Stabilization, Infrastructure). Directly comparable African SWF with similar mandate pillars of savings, stabilization, and development financing.
- Ghana Investment Authority (GIA / Petroleum Revenue Investment): Ghana's vehicle for managing petroleum revenues and stabilizing the budget. Comparable as an African sovereign vehicle performing a dual stabilization and development savings role.
- Sovereign Fund of Mauritius: Mauritius's national investment vehicle focused on strategic investments supporting the country's economic transformation. Comparable as an Eastern/Southern African SWF with development investment objectives.
- FONSIS (Senegal): Senegal's sovereign strategic investment fund designed to mobilize financing for national development. Directly comparable as a West African SWF with similar development-finance mandate.
- Pula Fund (Bank of Botswana): Botswana's long-standing sovereign wealth fund established in 1994, often cited as an African SWF benchmark. Directly comparable as a national savings and stabilization vehicle investing in fixed income and similar instruments across Sub-Saharan Africa.
- Fundo Soberano de Angola (FSDEA): Angola's sovereign wealth fund established in 2012 with a focus on stabilizing the economy and supporting long-term development. Comparable as a Lusophone-African SWF of similar vintage to Agaciro.
Regional players
- Uganda's Presidential Investors Roundtable / Strategic Investment vehicle: Uganda's closest regional counterpart in East Africa pursuing national savings and investment objectives. Comparable as a neighboring East African sovereign vehicle with similar development-oriented mandate.
Market position
Strengths5 records
Weaknesses3 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
Agaciro Development Fund social profiles
Digital presenceAgaciro Development Fund financial estimates
Financial estimateRevenue estimate
Valuation estimate
Agaciro Development Fund leadership team
Management profileNumber of profiles
Profiles1 record
Agaciro Development Fund funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Agaciro Development Fund M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Agaciro Development Fund
What does Agaciro Development Fund do?
Agaciro Development Fund is Rwanda's sovereign wealth fund that pools voluntary contributions from Rwandans at home and abroad to build public savings. It invests its assets primarily in Government T-bonds and commercial banks' term deposits to generate returns, while preserving capital to provide fiscal capacity during economic shocks and finance national socio-economic development priorities.
Is Agaciro Development Fund a public or private company?
Agaciro Development Fund is a private company. It is classified as state government owned and is currently operating.
When was Agaciro Development Fund founded?
Agaciro Development Fund was founded in 2012. It employs 11 to 50 people.
Where is Agaciro Development Fund based?
Agaciro Development Fund is headquartered in Kigali, Rwanda, in the Africa region.
Who are Agaciro Development Fund's main competitors?
Broad incumbents on record are GIC (Singapore) and Government Pension Fund Global (Norway). Direct peers are Nigeria Sovereign Investment Authority (NSIA), Ghana Investment Authority (GIA / Petroleum Revenue Investment), Sovereign Fund of Mauritius, FONSIS (Senegal), Pula Fund (Bank of Botswana) and Fundo Soberano de Angola (FSDEA). Uganda's Presidential Investors Roundtable / Strategic Investment vehicle is listed as a regional player.
Does Agaciro Development Fund have an API?
No public API is recorded for Agaciro Development Fund.
What industry is Agaciro Development Fund in?
Agaciro Development Fund's product category is Sovereign Wealth Fund. Its primary akta.pro industry code is BPADABAM, Development Finance, Guarantees & Blended Finance Programs. Its NAICS code is 5259 and its SIC code is 6111.