Rwanda enlists Asian wealth manager Raffles to channel capital into real estate
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Raffles Family Office has signed an agreement with the Rwanda Development Board to mobilise hundreds of millions of dollars in private investment, with real estate among the target sectors.
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, 22 October, is intended to connect international investors, particularly wealthy individuals and families across Asia and Africa, with investment opportunities in the country. RFO established a representative office in Kigali earlier this year and in September appointed Rwanda's former Minister of State for Infrastructure, Jean de Dieu Uwihanganye, as its Principal for Emerging Markets and Business Development, focused 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 the race expected from the early 2030s at a purpose-built circuit near the planned new international airport in Bugesera. The investment drive extends beyond the 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.
"Private sector participation is central to our approach, with opportunities extending well beyond the circuit into aviation, hospitality, tourism, entertainment, real estate and services," RDB chief executive Jean-Guy Afrika said, adding that the partnership would support efforts to attract businesses, create jobs and generate lasting economic value.
RFO group chief executive Chi Man Kwan said the partnership would give the firm's clients a channel to explore Rwandan opportunities. "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 begun engaging prospective investors and planned to organise visits to Rwanda so they can assess opportunities and meet potential project partners.