Reaching Across the Diaspora: An Exclusive Interview with Jack Kayonga, CEO of Rwanda’s Agaciro Development Fund

August 04, 2016 by Loch Adamson

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Jack Kayonga, CEO of Agaciro Development Fund. Rwanda, a small, landlocked country in East Africa, has few natural resources, but its government still managed to create a sovereign wealth fund in 2012 by drawing on the pride of its people. Agaciro — the name is derived from the local word for "dignity" — has attracted approximately $40 million in donations from Rwandan citizens at home and abroad since its creation four years ago. While this total may not elevate Agaciro into the ranks of the major sovereign wealth funds, it still represents a significant accomplishment in a country where citizens earn an average of just $700 per year. Jack Kayonga, who was recently appointed CEO of Agaciro Development Fund in March 2016, says the organization’s unique funding model, grounded in the savings of ordinary Rwandans and government contributions, helps promote justice and inclusivity in the process of rebuilding…

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