Private Equity Firm,Cytonn Investments Management Limited has opened shop in Kigali with a pledge to help attract more investment in the country and the East African Community (EAC) bloc generally.
“Cytonn Investments views the East African region as one market and, therefore, we want to facilitate firms and individuals that want to establish businesses in any of the EAC countries, including Rwanda,” Edwin Dande, the company’s managing partner and chief executive officer, said.
Dande was speaking during an investment forum hosted by the company in Kigali on Thursday.
The forum, which explored investment opportunities in the region and areas of partnerships with Cytonn Investments, brought together more than 100 individual and institutional investors.
Dande said the firm also looks to facilitate the Rwandan Diaspora to invest money back home, especially in the real estate industry.
The firm pledged to train about 10 Rwandans in investments analysis and management of real estate and private equity portfolios each year under its internship programme as part of efforts to develop local capacity. Dande revealed that Cytonn was also seeking to form a joint venture with a local firm.
Speaking at the forum, the Kenya High Commissioner to Rwanda Amb John Mwangemi, said such efforts will help strengthen and fully integrate the EAC economies.
“Governments in the EAC bloc are committed to creating an enabling investment environment because we are fully aware that this will help accelerate regional integration.
“It is, therefore, critical that companies like Cytonn Investments venture into Rwanda, a country that features highly in global economic indices as a place with ease of doing business,” said Mwangemi.
He added that the entry of Cytonn into the Rwandan market also strengthens bilateral co-operation and economic ties between the two countries. The company has also been connecting the East Africa Diaspora in the US and providing a platform for them to invest back at home.
