Rwanda Finance (RFL) and the East Africa Venture Capital Association (EAVCA) have partnered to enable private investment in Africa through their respective mandates.
The RFL-EAVCA partnership will provide a platform for Rwanda to increase its competitiveness as a business and financial hub for private equity through the Kigali International Financial Centre (KIFC).
EAVCA’s core mandate is to advance East Africa as a private capital destination while ensuring a favourable environment for trade for the business and financial sector.
Commenting on the partnership, Nick Barigye, CEO of Rwanda Finance, noted, “Private equity and other types of alternative funding are undisputedly shaping the growth of the private sector alongside standard debt financing. This unique partnership will be at the forefront of building an enabling environment for future capital deployment and long-term savings in the region for both private and public institutions.”
The East Africa Private Equity and Venture Capital Association (EAVCA) is the trade association for private capital providers, including private equity and venture capital firms. Over the last 8 years, the association has grown in its membership to represent over 90 companies representing DFIs, PE and VC fund managers, asset managers, and advisory firms.
Esther Ndeti, Executive Director of the EAVCA stated, “The advancement and promotion of East Africa as a private capital destination while ensuring a favorable environment for trade for the business and financial sector, is at the core of what EAVCA does. We are proud to work with KIFC to strengthen its position as an International Financial Centre and a domicile for investment funds. This partnership will further facilitate increased capital flows, while also bringing long term economic benefits to the region.”