Cogebanque adds Rwf20m toward Agaciro devt fund

The national sovereign fund, the Agaciro Development Fund (AgDF), yesterday, received Rwf20 milllion boost from Cogebanque.
Agaciro Development Fund's Kagabo (R) receives a dummy cheque from Mujyambere yesterday. (John Mbanda)
Agaciro Development Fund's Kagabo (R) receives a dummy cheque from Mujyambere yesterday. (John Mbanda)

The national sovereign fund, the Agaciro Development Fund (AgDF), yesterday, received Rwf20 milllion boost from Cogebanque.

Montfort Mujyambere, the bank’s director of business development, said the donation is in line with Cogebanque’s aspirations to associate with anything related to nation building.

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Agaciro Development Fund CEO, Vianney Kagabo speaks after receiving the cheque yesterday. 

Vianney Kagabo, the chief executive of Agaciro Fund, commended the donation as a good gesture of patriotism. He also called on other people to emulate the deed.

The bank also made a contribution of Rwf70 million last year, according to officials, while Mujyambere promised continued support.

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Agaciro Development Fund CEO, Vianney Kagabo thanks Cogebanque staff after receiving the cheque yesterday.

The AgDF was launched in 2012 as part of efforts to seek self sufficiency, and has so far raised over Rwf23.8 billion in total collections as of November 18.

The initiative is based on voluntary donations by Rwandans, well-wishers and corporate companies. And the Trust law passed June, last year, offered a leeway for the Fund to be made permanent.

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Cogebanque staff with Agaciro Development Fund CEO, Vianney Kagabo (C) pause for a group photo. (Photos by John Mbanda)

The Fund was transformed into AgDF Corporate Trust Limited last year after it became permanent.

It is currently investing some of the money in government bonds and short-term bank deposits, which earn an annual interest of between 8 and 12 per cent.

editorial@newtimes.co.rw

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