Prosperity for Generations Agaciro Development Fund

1.The genesis of Agaciro Development Fund Since its inception, the AgDF has achieved some significant milestones Conceived during the 2011 Umushyikirano Launched on August 23rd 2012 by H.E the President The AgDF was initiated by voluntary contributions by Rwandans Aimed at achieving financial autonomy and accelerating Rwanda’s development goals The “Agaciro” spirit is more important than the contributions Point 3: talk about perceptions and knowledge So far, RWF 25 billion have been received in pledges The AgDF will continue to be governed by high levels of prudence, accountability and transparency

Amount (in million RwF) 2. Financial Pledges Component Amount (in million RwF) % Contributions from Government 15,854.7 62.2 Contributions from Corporate 3,978.1 15.6 Contributions from Business Employees (Corporate Staff) 537.4 2.1 Contributions from Diaspora 609.6 2.4 Contributions from Individuals 2,943.9 11.6 Contributions from NGOs (Churches, Political Parties & others) 182.3 0.7 Contributions from Friends of Rwanda (Mostly Local Consultants) 32.2 0.1 Cash received not pledged and reconciled 1,342.4 5.3 Contributions from SMS 3.2 <0.1 Total 25,483.8 100

3. Financial Recovery Component Amount (in million RwF) % Amount Recovered (Cash in Banks) 9,334.6 36.6 To be recovered through installment payments 6,989.2 27.4 Other recoverable (Corporate, citizens…) * 6,124.1 24.1 Teacher's pledge 2,433.4 9.5 To be recovered from Diaspora 603 2.4 Total 25,483.8 100 * SMS contributions included here amount to 3,221,975 Monitor Company ©1999 — Confidential

AgDF will be governed by Rwanda’s new Trust Law 4. Legal Framework AgDF will be governed by Rwanda’s new Trust Law “The AgDF is a trust by the citizens of Rwanda, sponsored by the GoR aimed at ensuring prosperity for generations. Under the guidance of the Board of Trustees, the fund manager(s) will invest the AgDF’s funds in select high return and high impact investments. Under the custody of MINECOFIN, the Fund will be managed competitively and will uphold the highest standards of integrity, transparency and accountability.” Agaciro Monitor Company ©1999 — Confidential

5. Resources Deployment Projects will be selected based on criteria that balance financial returns and impact Fund Investment Criteria Priority Sectors Medium-Long term: part-ownership in new innovative and/or existing high growth companies Growth potential Track record of enterprise Social benefit Employment potential Tourism Housing Education Long term: Income generating projects done in partnership with established institutions Return on investment Socio-economic impact Breadth of impact Energy Housing Cooperative Development Return potential Risks Short term-Medium Term: deposits in Treasury-bills, Term deposits and guarantee facilities Interest rate Employment potential Revenues generated Export potential ICT Tourism Manufacturing Agriculture (value added) Monitor Company ©1999 — Confidential

The more we save and invest, the wealthier we become….. 6. Sources of Funds The more we save and invest, the wealthier we become….. Segment Activation Strategy GoR (National Budget) 3-5% of tax revenues Citizens of Rwanda Print, broadcast, social media Events (Embassy/Umuganda/Concerts) Agaciro Ambassadors Business Community Tax incentives CSR Campaigns PSF Networking event Friends of Rwanda Crowd funding Capital Gains Balanced Investment Portfolio Monitor Company ©1999 — Confidential

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