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FRANCE RWANDA

Finance is key to Franco-Rwandan rapprochement

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“Finance and security, the main vehicles of Kagame's diplomacy”

RWANDA

Finance and security, the main vehicles of Kagame's diplomacy

For several years President Paul Kagame has been trying to strengthen Rwanda's position on the continental and international scene via two of the country's key sectors: finance and the army. The teams at Kigali International Financial Center (KIFC) have been travelling abroad more regularly, with a view to making the city Africa's financial hub. Meanwhile, the armed forces' emissaries are exporting Rwanda's military know-how. President Kagame has also being making the most of his connections beyond the continent, particularly those in Qatar, to position himself at the heart of the great game of nations. [...]

Although relations between France and Rwanda remain dependent on the highly contentious issue of historical responsibility for the genocide, public investment bank Bpifrance is taking an active interest in the new Kigali International Financial Centre being set up by the government of Paul Kagame. [...] (598 words)

Issue dated 20/11/2020 Reading time 3 minutes

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Finance

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RWANDA
AfricInvest
Agaciro Development Fund
Agence française de développement
Augustin de Romanet
Bank of Kigali
Bpifrance
CDC Group
Covid-19
Crédit suisse
Emmanuel Macron
European Union
Francois Mitterrand
Jérémie Blin
Julie d'Andurain
Kigali International Financial Centre
Louise Kanyonga
Nicolas Sarkozy
Paris Europlace
Paul Kagame
Rwanda Development Board
Rwanda Finance
Rwanda Social Security Board
Tidjane Thiam

Kigali goes green to seduce Luxembourg financiers

After having seduced Doha and Singapore, the Kigali International Finance Centre is turning towards Europe with a new pitch: Rwanda is reinventing itself as the leading player in green finance on the African continent. [...]

The Kigali International Finance Centre delegation visiting Luxembourg 16-17 November 2021, here with representatives of the Luxembourg Financial Intelligence Unit. © Kigali International Financial Centre/Twitter

Rwanda Finance CEO Nick Barigye with Qatar Financial Centre CEO Yousuf Mohamed Al-Jaida. © @QFCAuthority/Twitter

Spotlight

QATAR RWANDA 23/09/2021

Kigali aspires to become home to QIA's Africa fund

Qatar Airways is already active in Rwanda, and Doha is now considering basing its Africa fund there after first studying the Ivorian option. [...]

WEST AFRICA 20/08/2021

Financial lobby group Paris Europlace to train francophone Africa's top regulators

Paris Europlace, the body which promotes Paris as a financial centre, is setting up a training programme for West African financial regulators and civil servants. It will be run in partnership with Paris Dauphine University and the World Bank's International Financial Corporation. [...]

WEST AFRICA 17/06/2021

Bpifrance partners with Islamic Development Bank to extend Africa reach

The French investment bank has teamed up with the Jeddah-based organisation in order to diversify and expand on the continent. [...]

RWANDA 09/06/2021

New financial hub still wooing investors despite launch delay

Rwanda Finance, the state entity behind Kigali's new financial centre, is ramping up efforts to convince investors to settle in Rwanda. Even though the official launch was postponed again, the agency has been setting up bilateral meetings. [...]

MAURITIUS RWANDA 04/06/2021

Afreximbank's new export fund straddles Kigali and Port Louis

An investment fund created by Afreximbank to promote inter-African trade registered an entity in Mauritius last month. The institution itself is due to set up its headquarters in Kigali. [...]

Breaking newsFRANCE RWANDA 01/06/2021

Macron shares with Kagame his choice for the future French ambassador to Rwanda

Breaking news published on 01/06/21, 12:20 p.m. - In Kigali on May 27 and 28, Emmanuel Macron announced the imminent appointment of a French ambassador to Rwanda, after going for six years without one. Emmanuel Macron has revealed his choice to the Rwandan president, and is waiting for his green light. [...]

French President Emmanuel Macron (left) received by his Rwandan counterpart Paul Kagame in Kigali on 27 May 2021. © Ludovic Marin/AFP

RWANDA FRANCE 27/05/2021

Tidjane Thiam joins Macron's Kigali delegation

The former CEO of Credit Suisse, Tidjane Thiam, is part of the official delegation accompanying President Emmanuel Macron to Kigali on 27 May, alongside a few ministers and hand-picked business leaders. [...]

RWANDA FRANCE 15/04/2021

France denies citizenship to daughter of Félicien Kabuga

French authorities have informed one of the daughters of Félicien Kabuga, the alleged financial mastermind of the 1994 genocide in Rwanda, that her application for French nationality has been rejected. She has been living in France for 27 years. [...]

RWANDA FRANCE 06/04/2021

Macron could visit Kigali in May

The French presidency is making plans for Emmanuel Macron's possible trip to Kigali in May, although it has not been confirmed. [...]

RWANDA 16/03/2021

Kigali International Finance Centre headhunts among Rwandan diaspora

Faced with a shortage of qualified personnel for its new finance centre, the state-run Rwanda Finance has mounted a drive to recruit Rwandans living abroad, including in Belgium, the UK, Germany and the Netherlands. [...]

TOGO 16/03/2021

Faure Gnassingbé to visit Emmanuel Macron on 1 April

Faure Gnassigné will meet French president Emmanuel Macron at the Elysée Palace on 1 April at the start of an official visit lasting several days. [...]

Togolese President Faure Gnassingbé at the Elysee Palace in 2019 with his counterpart Emmanuel Macron and his wife Brigitte Macron. © Sebadelha Julie/Abaca Press/Reuters

Inner circles

FRANCE AFRICA 05/03/2021

AFD head mobilises his networks to boost agency's foreign policy profile

As the Agence Francaise de Dévelopement prepares to have its financial capacities increased by recently adopted development legislation, its head, Rémy Rioux, is putting his connections to work to convince African financial institutions to put greater emphasis on climate change in their development strategies. [...]

RWANDA 17/02/2021

Kigali International Financial Centre determined to open in June

Rwanda's offshore finance centre, originally slated for a December 2020 launch, is now set to get off the ground in June. Rwanda Finance, the state agency behind the centre, is working on attracting its first clients. [...]

RWANDA DRC BURUNDI 16/02/2021

Energie des Grands Lacs already onto groundwork for Ruzizi IV dam

Construction has not yet started on the 147-MW Ruzizi III hydropower plant but that hasn't stopped the Economic Community of the Great Lake Countries' initiative Energie des Grands Lacs (EGL) from looking at the idea of a Ruzizi IV. [...]

Spotlight

AFRICA RWANDA 14/01/2021

Major players in African finance to set up shop at Kagame's offshore centre in Kigali

The Kigali International Financial Centre is attracting many major law and fiduciary firms already present in Africa to open branch offices there. [...]

CAMEROON 23/12/2020

Paul Biya plays hard to get with French ambassador

France's ambassador in Yaoundé used to meet the Cameroonian president on a regular basis. But not any more. Here's why. [...]

French President Emmanuel Macron and his Cameroonian counterpart Paul Biya. © Christophe Morin/IP3 PRESS/MaxPPP

Spotlight

RWANDA ZIMBABWE 03/12/2020

Marc Holtzman, African leaders' favourite financier

In the starting blocks for the future offshore Kigali Financial Centre, US financier Marc Holtzman has secured several key financial positions in Rwanda and Zimbabwe. [...]

SOUTHERN AFRICA 02/12/2020

Botswana, Mauritius and Zimbabwe put on best show to impress money-laundering watchdog

From 24 November to 4 December, the reputation of Botswana, Zimbabwe and Mauritius will lie in the hands of the Eastern and Southern Africa Anti-Money Laundering Group, a body of the global money laundering watchdog FATF. [...]

Spotlight

RWANDA 24/11/2020

Bank of Kigali positions itself as financial centre's entry point

The country's largest bank, which is controlled by the state, is carving out an important role for itself in the capital's upcoming international finance hub. [...]

RWANDA 11/11/2020

UK's CDC Group turns to Rwanda to structure offshore investments

The Rwandan government's new Kigali International Financial Centre appears to have won over the British public development agency CDC Group. [...]

AFRICA 16/10/2020

Bpifrance's new 'fund of funds' sparks interest from private equity firms

The state-owned Bpifrance is set to finance leading African asset managers into its Averroès IV 'fund of funds.' [...]

Philippe Le Houérou (left) at the Aid for Trade Global Review in Geneva, July 2019. © World Trade Organization/CC BY-SA 2.0

Spotlight

AFRICA 18/08/2020

Candidates queue up for top IFC job

The imminent departure of the chief executive of the International Finance Corporation, the arm of the World Bank that lends to private businesses, has prompted a flurry of interest across the continent, and several high-profile figures have already thrown their hats into the ring. [...]

WEST AFRICA 06/05/2020

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RWANDA
AfricInvest
Agaciro Development Fund
Agence française de développement
Augustin de Romanet
Bank of Kigali
Bpifrance
CDC Group
Covid-19
Crédit suisse
Emmanuel Macron
European Union
Francois Mitterrand
Jérémie Blin
Julie d'Andurain
Kigali International Financial Centre
Louise Kanyonga
Nicolas Sarkozy
Paris Europlace
Paul Kagame
Rwanda Development Board
Rwanda Finance
Rwanda Social Security Board
Tidjane Thiam

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Finance is key to Franco-Rwandan rapprochement

Finance and security, the main vehicles of Kagame's diplomacy

This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

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create a free account

Receive free prompts for these topics

Kigali goes green to seduce Luxembourg financiers

Kigali aspires to become home to QIA's Africa fund

Financial lobby group Paris Europlace to train francophone Africa's top regulators

Bpifrance partners with Islamic Development Bank to extend Africa reach

New financial hub still wooing investors despite launch delay

Afreximbank's new export fund straddles Kigali and Port Louis

Macron shares with Kagame his choice for the future French ambassador to Rwanda

Tidjane Thiam joins Macron's Kigali delegation

France denies citizenship to daughter of Félicien Kabuga

Macron could visit Kigali in May

Kigali International Finance Centre headhunts among Rwandan diaspora

Faure Gnassingbé to visit Emmanuel Macron on 1 April

AFD head mobilises his networks to boost agency's foreign policy profile

Kigali International Financial Centre determined to open in June

Energie des Grands Lacs already onto groundwork for Ruzizi IV dam

Major players in African finance to set up shop at Kagame's offshore centre in Kigali

Paul Biya plays hard to get with French ambassador

Marc Holtzman, African leaders' favourite financier

Botswana, Mauritius and Zimbabwe put on best show to impress money-laundering watchdog

Bank of Kigali positions itself as financial centre's entry point

UK's CDC Group turns to Rwanda to structure offshore investments

Bpifrance's new 'fund of funds' sparks interest from private equity firms

Candidates queue up for top IFC job

Covid-19: Paris works closely with NGOs to develop its health diplomacy

What Sarkozy and Kagame said to each other in Paris

Elysee awaits invitation from Kigali

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