Staff members of Water and Sanitation Company (WASAC) Ltd on Tuesday donated Rwf50 million towards Agaciro Development Fund, as a contribution to the country’s continued efforts towards self-reliance.
This was the third time the utility body contributed towards the fund since last year and their total contribution currently stands at Rwf 120 million.
While handing over the cheque to the fund’s officials at the WASAC head office in downtown Kigali, the utility’s CEO Aime Muzola said the gesture is part of the company’s staff commitment to contribute to the fund.
"WASAC, as an institution, and its staff, are proud of the government’s vision towards self-reliance and we are committed to continue making our contribution to the fund until we are finally free from foreign aid. It is a difficult war which requires joint efforts to fight, especially by regularly contributing to the fund.
We will keep our commitment in not only contributing towards the fund but also in other development programmes, and with this spirit, I believe we can achieve more, like we always do in serving the people with clean water,” said Muzola.
Jack Kayonga, the CEO of Agaciro Development Fund thanked WASAC staff for their continued commitment to contributing to the fund and used the opportunity to call upon or corporations to rally their staff to contribute.
He said the spirit demonstrated by the employees of WASAC should be emulated by others in the corporate and business community, saying that the destiny of the country is in the hands of its people.
"We bear the same responsibility; a shared vision for our country and that can only be realised by supporting the fund to boost our journey to development. We are in the right direction towards self-reliance and we would like to encourage more companies, institutions and individuals to keep the spirit contributing regularly, like WASAC does,” he said.
He revealed the fund currently raises annual contribution of between Rwf2 and 3 billion while more awareness campaigns are running to increase the contribution raised.
So far, the fund has raised over Rwf50 billion since it was initiated in 2013, among which 30 per cent of the amount are the profits generated from different investments made by the fund, especially through the purchase of government’s treasury bonds and bills as well as lending banks.
The sovereign wealth fund was proposed under the 11th National Dialogue Council (Umushyikirano) in December 2011 with the purpose to build up savings to achieve self-reliance, maintain stability in times of shocks to the national economy and help accelerate Rwanda’s socio-economic development goals.