The milestone event, held at the Kigali Convention Centre, brought together senior government officials, regulators, global partners, and industry leaders to reflect on the Centre's achievements in its mission to position Rwanda as a financial hub and to outline its next phase of growth.
Over the past five years, KIFC has undergone a rapid ascent on the global financial stage. Kigali now ranks as Africa's third-best financial centre and second in Sub-Saharan Africa, a recognition attributed to the country's strong governance, predictable regulatory environment and coordinated institutional support.
Since its inception in 2020, the Centre has mobilised more than $1 billion in targeted investment commitments and licensed over 250 entities, signalling growing confidence among global investors structuring capital through Rwanda.
In her address, KIFC CEO Hortense Mudenge described the anniversary as both a celebration and a defining moment for the Centre's long-term vision. She emphasised that Rwanda's next phase will focus on consolidating gains and steering the financial hub toward three priority segments: asset management, climate finance, and fintech.
'Success depends on capital, credibility and confidence,' Mudenge said, outlining how KIFC aims to make Rwanda the easiest and most efficient jurisdiction for investors choosing an African base.
She noted that asset management will anchor the Centre's strategy by positioning Rwanda as a gateway for both foreign and domestic capital mobilisation. Climate finance will shape the policy direction, supporting Rwanda's ambition for a carbon-neutral economy by 2050, while fintech will serve as the accelerator, enabling faster, more transparent and more accessible financial services.
The CEO also recognised the strong collaboration across government ministries, regulators and development partners that has enabled KIFC's progress, extending special appreciation to Luxembourg for its support in the development of the Centre's next five-year strategy.
Minister of Finance and Economic Planning, Dr. Yusuf Murangwa, reaffirmed the government's commitment to the Centre's next phase. He praised the rapid progress made so far, saying KIFC had 'proven beyond doubt that Rwanda can build a credible, competitive, and internationally respected financial centre.'
Murangwa emphasised that KIFC is now entering a decisive scaling phase. 'The Government of Rwanda remains fully and unequivocally committed to this initiative. KIFC will continue to be a catalyst for prosperity, not only for Rwanda, but for Africa at large.'
Luxembourg's Chargé d'Affaires, Charlotte Helminger, commended Rwanda's momentum, observing that 'some achieve more in five years than others do in 50,' which, she said, reflects the impressive strides KIFC has made in such a short time.
She cited ongoing joint initiatives, including the Luxembourg Green Exchange's support to the Rwanda Stock Exchange Green Window, the establishment of the FinTech Centre, development of industry-wide API standards, and work on training and fiduciary-agent curricula, as examples of the 'ambitious and forward-looking collaboration' driving the Centre's next phase.
KIFC executives highlighted the building blocks behind the Centre's growth, including policy reform, global promotion and talent development. Over the last five years, Rwanda has enacted more than 23 international-standard financial laws, expanded its double-taxation treaty network to 17 countries and fully aligned its regulatory frameworks with OECD and FATF expectations. These measures have strengthened investor protections, enhanced transparency and positioned Rwanda as one of Africa's most credible jurisdictions for fund structuring.
The Centre has also invested heavily in talent, establishing the Financial Sector Skills Council and training over 1,000 professionals in partnership with CISI, ICAEW, CFA Society and others. Rwanda's adoption of the Sustainable Finance Roadmap and the launch of the Rwanda Green Taxonomy, the second in Africa, further underscored the country's commitment to responsible and climate-aligned finance.
During a panel discussion at the event, Capital Markets Authority (CMA) CEO Thapelo Tsheole highlighted Kigali's unique edge as a nascent financial hub, free from the entrenched legacy systems that often slow innovation in established centres.
'The honest truth is that when you're building a new financial centre, you don't have the luxury of legacy baggage, and that's actually an advantage. We can design rules that are modern from day one,' Tsheole said.
He emphasised benchmarking against global leaders like Singapore and Luxembourg while adapting to African contexts, alongside voluntary compliance with OECD peer reviews and FATF assessments to build trust.
Panellists from PwC Rwanda, the Rwanda Social Security Board (RSSB), MoneyPhone, and Liedekerke echoed the sentiments, hailing Rwanda's collaborative ecosystem and regulatory agility as drivers of surging interest from international private equity, venture capital, and infrastructure funds.
'We had this very fast-track recognition of the advantages of funds, which was a very pleasant surprise. During the general solicitation process, we were meeting with very capable and technical experts from the CMA, and that was a very pleasant experience,' remarked Louise Verstraete from Liedekerke.
As KIFC marks five years, its ambitious strategy in asset management, climate finance, and fintech is expected to translate into tangible growth for Rwanda's financial ecosystem, further shaping the country's engagement in regional and global markets.
Wycliffe Nyamasege
