One thing that never ceases to amaze in this country is the use of unconventional means to achieve extraordinary things. At first sight, Rwanda’s system of governance and economic policies could be described as pure capitalistic. But a quick glance at its social protection programs and it could rival any socialist nation. Who would have thought that by simply donating a cow to a poor villager, with firm instructions to pass on its first calf to another poor neighbour (who does the same act of passing forward a calf) would drastically reduce malnutrition and remove over a million people out of poverty? That is the same story with Agaciro Development Fund (AgDF) that has just been admitted into the International Forum of Sovereign Wealth Funds (IFSWF), barely four years old. It came about when donors attempted to arm-twist the country by threatening to withhold aid. Then, during a national meeting, the idea of setting up a sovereign fund was mooted and set in motion. Within no time at all, Agaciro (Dignity), was born. Rwandans dipped into their pockets and gave generously towards the fund. It has been used to widely invest in government bonds and other financial placements that have seen the fund’s portfolio grow to over Rwf 30.5 billion and it is still growing. That is another advantage of thinking big that has come to illustrate this government, and it is hoped that they have come out of the 13th National Leadership Retreat with even more “outrageous” ideas to propel this country forward.
