Kigali International Finance Centre last week signed a pact with Bpifrance, the French public investment bank edging closer to realizing its ambitions of positioning Rwanda as a business and financial hub in Africa.
The latest agreement, signed last week on October 7, will see the two institutions partnering to enhance the competitiveness of the business sector in both countries.
The cooperation agreement which was signed by Pascal Lagarde, Bpifrance’s Executive Director in charge of International, Strategy, Studies and Development, and Nick Barigye, Chief Executive Officer of Rwanda Finance Limited, sets the path for the two public institutions to support and promote business exchanges and economic cooperation between the two countries.
Amongst the features of the agreement includes working together to contribute to the development of a vibrant financial and pro-business ecosystem in Rwanda.
The agreement also outlines areas of cooperation to include promoting the business development of French SMEs and midcaps operating or interested in Africa by structuring through the Kigali International Financial Center.
The two institutions also agreed to jointly develop projects, missions, and events in order to optimize the linkage between Bpifrance, Rwanda Finance Limited and other financial institutions in Rwanda in order to create business partnerships.
Kigali International Finance Centre’s new partner is France’s largest public investment bank that is dedicated to direct and indirect investments, these includes partnership with sovereign funds and major international institutional investors. This enables the financier to offer a range of international actions to foreign institutions
Bpifrance has enough experience in carrying out support operations with States and foreign institutions in Africa, Europe and Eurasia which allows them create and also develop their own tools for financing their economies.
Kigali International Financial Centre (KIFC), an initiative by the Government that seeks to position Rwanda as a business and financial hub in Africa as well as reforming the financial services.
KIFC is also involved in the reform of the financial services sector.
The reforms are under three key pillars; laws and regulations within the financial service sector, the tax policy as relates to the financial sector, and skills and capacity development as relates to the financial service sector.