Airtel Rwanda staff have contributed Rwf40 million to the national sovereign wealth fund, Agaciro Development Fund (AgDF). 

While handing over the contribution on Thursday, Teddy Bhullar, Airtel managing director, said the contribution is part of the company’s commitment toward the development of Rwanda to ensure prosperity for future generations.

"We thank our staff for this patriotic gesture, and for continuing to display a genuine commitment to the development of the country through this contribution and other national development activities that we have been participating in as a company.

"We trust that the money will be invested in sustainable projects that will further enhance Rwanda’s economy and development objectives generally,” Bhullar said.

Vianney Kagabo, the Agaciro Development Fund chief executive officer, thanked the telecom company’s staff for the contribution and assured them the money would play a significant role in the development of the country.

Kagabo said they invest the money in high-yielding ventures to ensure good returns to the fund.

"Recently, we invested Rwf18 billion in short-term bank deposits, and Rwf3 billion in the Rwf15 billion Treasury bond government issued in September.

"Another Rwf3 billion will be invested in the upcoming government Treasury bond slated for issuance this month,” Kagabo said.

Kagabo added that they are investing the money in profitable venture to ensure a prosperous future for the generations to come.

AgDF is a sovereign wealth fund contributed to by Rwandans and friends of Rwanda, one of the approaches the country is using to achieve its self-reliance goal.

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