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Raffles Family Office and RDB sign agreement to bring Asian private capital to Rwanda

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Boardroom with a long table and a panoramic view of Kigali FDI in Rwanda
Boardroom with a long table and a panoramic view of Kigali

The Singapore and Hong Kong multi-family office will introduce investors to projects in Bugesera, Kigali and Musanze linked to the planned Formula 1 African Grand Prix.

Raffles Family Office (RFO), a multi-family office with headquarters in Singapore and Hong Kong, signed a strategic capital mobilisation and investment promotion agreement with the Rwanda Development Board (RDB) on 22 October 2026, RDB said.

RFO will introduce its network of high-net-worth individuals, families and private investors in Asia and Africa to projects in Rwanda, with the aim of mobilising hundreds of millions of dollars of foreign private investment over the coming years. Opportunities named include Airport City, hospitality, tourism, entertainment, real estate, infrastructure and related services in Bugesera, Kigali, Musanze and elsewhere.

The agreement follows Rwanda's ten-year deal with Formula 1 to host the Formula 1 African Grand Prix from the early 2030s, at a new circuit near the international airport in Bugesera. RDB chief executive Jean-Guy Afrika said opportunities extend "well beyond the circuit" into aviation, hospitality, tourism, entertainment, real estate and services.

RFO opened a representative office in Kigali earlier in 2026 and plans investor visits to Rwanda. The Cabinet approved the framework agreement between the Government of Rwanda and Raffles Family Office at its meeting on 26 October.

Foreign private capital inflows to Rwanda rose 23.9% to US$1,098.5 million in 2024, with foreign direct investment up 21.8%, according to the latest Foreign Private Capital census by the National Institute of Statistics of Rwanda.

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