Raffles Family Office (RFO), an Asian wealth management firm, has partnered with the Rwanda Development Board (RDB) to mobilise hundreds of millions of dollars in private investment for Rwanda over the coming years, with opportunities spanning tourism, aviation, real estate and infrastructure.

The agreement signed on Thursday, October 22, is intended to connect international investors, particularly wealthy individuals and families across Asia and Africa, with investment opportunities in the country.

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Raffles Family Office established a representative office in Kigali earlier this year. In September, it appointed Rwanda&039;s former Minister of State for Infrastructure Jean de Dieu Uwihanganye as its Principal for Emerging Markets and Business Development, with a focus on strengthening investment links between Africa and Asia.

The partnership comes as Rwanda prepares to host the Formula 1 African Grand Prix under a 10-year agreement with Formula 1. The race is expected to take place from the early 2030s at a purpose-built circuit near the planned new international airport in Bugesera.

However, the investment drive extends beyond the race circuit, with opportunities identified in aviation, hospitality, tourism, entertainment, real estate, infrastructure and related services in Bugesera, Kigali, Musanze and other parts of the country.

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Jean-Guy Afrika, the Chief Executive Officer of RDB, said private investment would be important in ensuring that the economic benefits associated with hosting Formula 1 extend beyond the race weekend.

"Private sector participation is central to our approach, with opportunities extending well beyond the circuit into aviation, hospitality, tourism, entertainment, real estate and services,” Afrika said.

He added that the partnership would support efforts to attract businesses, create jobs and generate lasting economic value.

Chi Man Kwan, the Group Chief Executive Officer of Raffles Family Office, said the partnership would give the firm's clients a channel through which to explore investment opportunities in Rwanda.

"By combining RFO’s cross-border investor network with RDB’s institutional support and project pipeline, we aim to channel long-term, patient capital into one of the continent’s most ambitious development stories,” he said.

Raffles Family Office said it had started engaging prospective investors and planned to organise visits to Rwanda to allow them to assess opportunities and meet potential project partners.