Kigali International Financial Centre (KIFC) has mobilised more than Rwf600 billion since it was established in 2021, Prime Minister Justin Nsengiyumva told Parliament on Friday, October 2.

Most of the funds came from new investors who established companies and introduced different investment vehicles in the country, Nsengiyumva said.

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"Since this institution was established six years ago, it has already mobilised assets worth more than Rwf600 billion,” he said.

He said the mobilisation of capital is part of Rwanda’s efforts to develop Kigali as a regional financial hub and attract more investment.

The Prime Minister said the government will continue promoting Kigali as a regional financial centre through KIFC, while also seeking to expand the capital market.

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"More companies will continue to be encouraged to register on the capital market, issue shares and bonds,” he said.

The number of companies on the market increased from one in 2017 to 10 in 2025, comprising five domestic companies and five foreign companies.

The value of assets on the capital market rose from about Rwf3 trillion in 2017 to nearly Rwf7 trillion in 2025.

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The number of investors also increased from 13,000 in 2017 to more than 117,000 in 2025.

Nsengiyumva said government considers the capital market an important source of long-term financing and will continue working to expand it.

The government also plans to encourage more companies to list and issue shares and bonds, while strengthening Kigali’s position as a regional financial centre.

The development of KIFC comes as Rwanda’s wider financial sector has expanded. Total financial-sector assets increased from Rwf4 trillion in 2017 to Rwf16 trillion in 2025, while their share of gross domestic product rose from 53 per cent to 68 per cent.

However, the Prime Minister said there are still challenges, including the cost of finance, low domestic savings, limited access to finance for small and medium-sized enterprises and the need to further develop the capital market.

The average cost of finance stood at 15.79 per cent in June 2026, down from 17.2 per cent in 2017.

Nsengiyumva said government will continue promoting long-term savings through banks, insurance, pension schemes and the capital market to turn domestic savings into investment.