12 May 2017

Rwanda: Chinese Gaming Company Donates Rwf5m to Agaciro Development Fund

Lin and Gao Limited, a Chinese Casino Company yesterday donated Rwf5 million to Agaciro Development Fund.

Sam Akankwasa, the managing Director of Lin and Gao said the donation was aimed at contributing to Rwanda's development .

"We were so impressed to hear that this fund was started by president Kagame. You have a president who has his country at heart and people that have their country at heart," he added.

Akankwasa lauded the Fund as a tool for development.

Receiving the donation, Charles Mugabe, the Investments manager at Agaciro Fund expressed gratitude to the private sector for their contributions which account for over Rwf3.7 billion, representing 10 percent of all the contributions in the fund.

"And we hope that they will still continue," he said.

"It is great when we see foreign companies working for the development of the country. When they develop Rwanda, they also develop. And they are not alone but many local companies are also contributing," he added.

According to Mugabe, the fund currently has accumulated Rwf43 billion, 6.3 billion of which is income got from investments that the fund has carried out.

"The fund has grown and is still growing. Our contributors have done such a great job that in just 4 years we are here. It is a great achievement," he said.

Agaciro Development Fund was mooted at the 2011 National Dialogue and was launched in August 2012 to mobilize public savings to achieve self-reliance and accelerate socio-economic development.

It gets its contributions from the private sector, civil society, government, friends of Rwanda abroad.

Rwanda

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