Kigali International Financial Centre (KIFC) officially launched a Pan-African membership Network (KIFC Club) on February 25. The club aims to create a pan-African financial community, enabling members to promote their operations and network with national and international business leaders. During a cocktail event organized by KIFC, representatives of 24 members who have completed the onboarding process and received certificates of membership convened together for the launch and networking. Nick Barigye, CEO of Rwanda Finance Limited, said; “KIFC continues to attract a number of investors and members, including African fintech leaders, financial services providers, corporate services providers, impact investors and angel investors and we hope to grow these numbers.” He added that members can explore new opportunities by forming new business and financial partnerships, while also strengthening existing networks. Rwanda Finance Limited led in the development of the incentives for the Kigali International Finance Centre, an initiative that seeks to position Rwanda as a preferred financial jurisdiction for investments into Africa, as well as reform the domestic industry. KIFC brings together institutions ranging from banks, providers of corporate services such as lawyers and accountants, private investors and family offices, financial sector regulators and the Registrar of businesses in Rwanda, among other stakeholders. Lise Arakaza, the business development manager at Rwanda Finance Limited, stressed that the type of network they are trying to build is based on opportunities, connectedness, advocacy, promotion, and promotion. Members will also get to enjoy business facilitation, special promotion packages, participation in policy dialogues, among other benefits. The 24 members are; Bank of Kigali, Flutter Wave, Admaius Capital, JurisTax, Chancen International Rwanda, Chipper Cash, Aktif Bank, Matha Capital, Mettle Limited, BK Capital Limited, Q-lana, Ethos Attorneys and Consultants. Others are; K-Solutions & Partners, Fountain Advocates, Liedekerke, NCBA Bank, Ecobank, CVL, Garnett Partners, Luma Holding, Inkomoko, Mobile Money, PanAfrican Finance Limited, RR Associates and Co Advocates. In August 2020 cabinet approved a law relating to investment promotion and facilitation which features incentives for investors joining the Kigali International Finance Centre. The new investment code allows KIFC members to expand their activities beyond Rwanda generating engagement with clients, investors, and stakeholders across the region. Other key laws critical for the development of KIFC have been gazetted including the Partnerships Law, the Company Law and the Law governing Collective Investment Schemes.
