Kigali International Financial Centre angles to grow investments

Rwanda’s International Financial Centre (KIFC) is making significant strides in attracting foreign investments and fostering a conducive business environment for companies looking to set up operations in the country. With 40 new entities registered in the center, KIFC aims to position itself as a key player in the African financial landscape. Antonny Mukulu Nshimye, the Company Secretary of KIFC, highlighted some of the major achievements and future plans during a recent interview with CNBC Africa. In 2023, KIFC focused on key areas such as talent development, fintech innovation, sustainable finance, and strategic partnerships to enhance its appeal to investors. One of the notable milestones was the establishment of the Financial Sector Skills Council to ensure the availability of skilled professionals in the financial sector. Additionally, KIFC successfully hosted a global fintech forum, incorporating 12 fintech companies to drive innovation in the industry. The center also launched Rwanda's taxonomy during COP28, emphasizing environmental, social, and governance aspects in finance. This commitment to sustainable finance is a cornerstone of KIFC's strategy to attract investments aligned with green principles. Moreover, strategic partnerships with countries like Qatar and the Astana International Financial Centre in Europe have been instrumental in expanding KIFC's reach and capabilities. These partnerships aim to facilitate seamless incorporation of entities across jurisdictions, ultimately boosting investment flows. Looking ahead to 2024, KIFC is optimistic about attracting more investments, with assets under management exceeding 1 billion US dollars. The center plans to continue promoting KIFC as an attractive investment destination and remains committed to supporting the aspirations of all investors seeking opportunities in Rwanda.