Since its creation in 2020, the Kigali International Financial Centre (KIFC) has driven Rwanda’s emergence as one of Africa’s fastest-rising financial hubs. As the journey has unfolded, reforms and an investor-focused regulatory framework have strengthened Kigali’s competitiveness and international alignment.
In just five years, Rwanda has attracted more than $1 billion in targeted investment commitments through the KIFC, signaling strong investor confidence and expanding Kigali’s position as a credible gateway for capital into Africa.
The Global Financial Centres Index (GFCI 38) ranks Kigali as the third-best International Financial Centre in Africa and second in Sub-Saharan Africa, underscoring its rapid rise and growing significance on the global financial stage.
The new five-year strategy for KIFC will be unveiled, celebrating its fifth anniversary on December 10, 2025, at Kigali Convention Centre. As the milestone approaches, KIFC reflects on five years of rapid evolution that have transformed Kigali into one of Africa’s most promising financial gateways.
KIFC CEO Hortense Mudenge highlighted that in just five years of operation, Kigali has emerged as a credible Financial Centre.
"The progress we have made reflects the commitment of our ecosystem and partners, whose collaboration and expertise have been central to our journey. The confidence that investors continue to place in Rwanda demonstrates the strength and potential of the environment we are building together,” she stated.
The CEO added that accelerating momentum and attracting more diverse financial players will drive sustainable and inclusive growth.
"This next phase strengthens our commitment to making Kigali one of Africa’s most competitive financial services hubs.”
Positioning Rwanda as Africa’s Preferred Financial Jurisdiction
KIFC was created to position Rwanda as a preferred financial jurisdiction for investments into Africa by offering an attractive, competitive, and fully compliant environment aligned with international best practices. It builds on Rwanda’s long-standing strengths: security, political stability, ease of doing business, strong infrastructure, and a vision for economic diversification.
Its establishment came at a critical time for Rwanda’s economic ambitions. The financial services sector currently contributes less than 3 per cent to national GDP yet achieving the country’s goal of becoming a high-income economy by 2050 will require this share to increase substantially. Government targets envision the sector contributing 5.2 per cent by 2035 and 11.8 per cent by 2050.
Five years of growth and ecosystem building
Over the past five years, Rwanda has established an enabling environment and its ecosystem partners have worked to create an enabling environment for asset consolidation, fund domiciliation, and regional investment expansion. This effort involved targeted policy reforms, investor promotion, and the identification of niche growth areas such as fintech and sustainable finance.
The financial centre now hosts a diverse mix of entities, including investment funds, holding companies, fintechs, foundations, trusts, and professional service providers, to mention a few.
Investment attraction and increasing global visibility
Since its launch, KIFC has evolved into a platform that not only facilitates global capital flows but also supports broad-based economic transformation through capital mobilization, and job creation.
Pan-African investment entities domiciled in KIFC include the Fund for Export Development in Africa (FEDA), the Virunga Africa Fund, the Timbuktoo Foundation, Chancen International, among others.
Gerhard Visagie is the Founder and CEO of Paladin Africa, an Africa-focused investment firm with a charitable purpose. It specializes in private equity and public equities investment management. He highlighted the following:
"Our experience with the KIFC has been exceptional. Rwanda’s efficiency, regulatory clarity and genuine commitment create an environment where committed long-term investors can thrive. KIFC has become an ideal regional base for Paladin Africa’s pan-African investment ambitions,” Visagie said.
Emma Msowoya, Country Head Rwanda, Apex Group Ltd – a global financial services provider – said "KIFC's commitment to supporting its members, alongside Rwanda's pro-investment policies and favorable business environment, were significant factors in Apex Group’s decision to establish operations in Kigali.”
"This move underscores Kigali’s status as a credible hub for fund domiciliation and capital deployment within Africa, with the city offering a robust environment for business expansion and growth,” she observed.
Firm creation and international diversity
Rwanda has registered a growing number of entities, including holding companies, Fintechs, investment funds, special purpose vehicles (SPVs), trusts, and foundations. This growth demonstrates not only the competitiveness of its legal framework but also its operational appeal for both regional and international firms.
As of 2025, KIFC hosts entities from more than 20 countries across Africa, Europe, and Asia. This diverse participation reflects Kigali’s emergence as a continental anchor for globally mobile capital, especially for fund managers, fintech platforms, and impact investors seeking efficient access into African markets.
A competitive and investor-friendly environment
Over the past five years, Rwanda has established a growing number of market-enabling financial laws to underpin KIFC’s regulatory strength. This legal architecture forms a comprehensive foundation aligned with international standards, positioning Kigali as a competitive and trusted domicile for cross-border finance.
This wave of reforms has effectively transformed Kigali into a next-generation financial centre, combining flexibility, institutional oversight, and regulatory certainty. Rwanda’s legal system now rivals those of more mature jurisdictions, while maintaining adaptability for fast-changing markets.
The Financial Center value proposition is further reinforced by a flexible, tax-efficient framework designed to attract a wide range of global investors and an open market that allows for unrestricted foreign ownership and capital repatriation.
Rwanda’s expanding network of Double Taxation Treaties, with partners such as Qatar, Singapore, China, and Mauritius to name but a few, further supports KIFC’s competitiveness by facilitating smoother cross-border capital flows.
The road ahead: KIFC’s next five years
With its foundations firmly established, KIFC is now poised to transition from proof-of-concept to a scaled platform. The next strategic cycle will focus on attracting more global institutions, strengthening Rwanda’s position as the preferred gateway for capital into Africa, and advancing its role as a continental hub for sustainable finance and Fintech.
The expansion of the funds industry and continued investment in specialist talent are expected to anchor the next phase of growth.