M a r k e t N e w s
Agaciro Fund targets Rwf1.2b from investments by June 2015
Posted on : Thursday, 20th November 2014
Agaciro Development Fund Corporate Trust Limited projects to earn over Rwf1.2 billion interest from the investments it has made by June next year, Vianney Kagabo, the Fund’s chief executive officer, has said.
Kagabo (left) receives the contribution from CSK’s Rwabuyonza yesterday. (Emmauel Ntirenganya)
Kagabo (left) receives the contribution from CSK’s Rwabuyonza yesterday. (Emmauel Ntirenganya)
Kagabo said the Fund has so far received Rwf24.1 billion in contributions, Rwf21 billion of which has been invested in government Treasury bonds (Rwf3 billion) and bank deposits (Rwf18 billion).
He added that the Fund would buy government Treasury bonds worth Rwf3 billion in the upcoming bond issue.
Kagabo was yesterday receiving a Rwf1 million contribution from Cercle Sportif de Kigali (CSK), a Nyarugenge-based sports-oriented non-profit organisation.
He noted that the Fund has been affected by restructuring exercise in the public service, saying it has slowed down contributions. “The six month restructuring exercise in public institutions has affected the performance of the Fund. We hope the situation will change after the exercise is completed,” he said. Kagabo urged Rwandans, private and public institutions and well-wishers to contribute to the Fund.
Jean Paul Rwabuyonza, the CSK board chairman, said the club contributed the money to support government efforts that are aimed at making the country self-reliant.
“We want to commend the government for coming up with the Agaciro Fund initiative because it will help improve the welfare of Rwandans besides supporting sustainable development,” he said.
He said the money was mobilised from members’ contributions.
Source : in2eastafrica.net
