Rwanda’s sovereign wealth fund, Agaciro Development Fund, has grown to Rwf 184 billion (US200 million) according to figures from the fund of the period that ended December 2018, up from around Rwf 46 billion in December 2017. The expansion of the fund’s investment portfolio has resulted in a year of considerable change and progress at the Fund as further detailed below. 2018 financial performance 2018 was a highly successful year for the fund and the shareholder. The fund continued to enjoy impressive and sustainable growth and the financial Performance showed a strong net income of 5.3 Billion – an increase of 37% over the previous year. Our total assets stand at 184 Billion francs, netting out the GoR transferred portfolio of companies (24 companies have completed the transfer process while 2 companies are in the process of completing the transfer). The previous year our assets stood at 55.5 Billion resulting in a growth of 9.6% when compared to 2018. The Net profit as at end 2018 is as follows: The Net assets of the fund as at December 2018: In 2019, we are expecting a second phase in the transfer of Government shares in various companies to Agaciro which will further increase the fund size. Today the fund is strong with assets of 184 Billion Francs (over$200M) and it remains well capitalized. With a balance sheet size of over $200M, we can continue to be key partners in fast tracking the development of the country and boosting the growth of the private sector. The inception of Agaciro Development Fund is traced back to 2011 when Rwandans gathered at the ninth Umushyikirano (National Dialogue Council) chaired by His Excellency President Paul Kagame who came up with the idea to establish a sovereign wealth fund.