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Rwanda Energy Group to renew momentum to support Agaciro Development Fund

Published: Monday, 06 March 2017


From left Emmanuel Kamanzi-MD EDCL, Jean Bosco Mugiraneza-REG-CEO, Jean Paul Ntambara fundraising manager Agaciro Development Fund and Maj. Eng. Jean Claude Kalisa- MD-EUCL.

Rwanda Energy Group Limited (REG) Staff and its subsidiaries has committed to renew their support to Agaciro Development Fund. The pledge was made on Friday, 3rd March 2017 during the meeting at Hilltop Hotel that gathered members of the REG Holding, Energy Utility Corporation Limited (EUCL), Energy Development Corporation Limited (EDCL) and Agaciro Development Fund.

The meeting was held under a joint auspices to share the Fund’s achievements and reflect on strategies for the continued growth and sustainability of the Fund. Speaking at the meeting, Jean Bosco Mugiraneza, the Chief Executive of Rwanda Energy Group thanked the staff for their vital willingness to support to Agaciro Development Fund. 

“We find it important to contribute to the Fund since it is for the country’s development.” Jean Bosco Mugiraneza said. The CEO stated that the government acknowledges their enthusiasm in Rwanda’s journey towards ownership and fast-tracking of its development.

So far, the Fund has extended to 41 Rwf billion from 35 Rwf billion contributions, this means that 6 Rwf billion has been generated from the interests invested in different sectors; Jean Paul Ntambara, the Agaciro Development Fund, fundraising manager said. The Fund’s assets are composed of voluntary contributions, Government contributions and returns from its investment

The Fund’s current focus is on maintaining existing investment platforms. In the near future the Fund plans to diversify investments in other sectors with safety and high returns.

Members of the REG and its subsidiaries were appreciative of the progress and pledged to support continuously the Fund. The chief executive officer said that together with the utility members efforts are going to be renewed to support Agaciro Fund. Every staff will contribute 1% of his/her net salary per month.

REG/EUCL/EDCL Staff during the meeting

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