In a major landmark cross-border collaboration aimed at unlocking patient capital across Africa ahead of the Formula 1 African Grand Prix, Asian multi-family office Raffles Family Office has signed a strategic investment promotion agreement with the Rwanda Development Board to channel foreign private investment into hospitality, real estate, and infrastructure projects across the nation.
In a significant move that underscores the growing interest of global private wealth in emerging African markets, Asian multi-family office Raffles Family Office (RFO) has officially signed a strategic capital mobilisation and investment promotion agreement with the Rwanda Development Board (RDB). The alliance is structured to expand private sector participation throughout Rwanda by linking international private investors with the country’s growing commercial project pipeline.
Through this strategic collaboration, Raffles Family Office will leverage its established network of ultra-high-net-worth individuals, wealthy families, and private investor bases spanning both Asia and Africa. The initiative aims to mobilise hundreds of millions of dollars in new private foreign investment over the coming years, facilitating long-term funding into commercially viable developments designed to generate lasting economic value.
The announcement comes on the heels of Rwanda’s ten-year agreement with Formula 1 to host the Formula 1 African Grand Prix, presented by Visit Rwanda, starting from the early 2030s. The upcoming African Grand Prix is set to be hosted at a new purpose-built circuit constructed near Rwanda’s new international airport in Bugesera. While the sporting marquee serves as a primary international focal point, the broader investment framework extends well beyond the motor racing circuit to encompass wide-ranging regional developments.
Targeted investment opportunities identified under the partnership span several crucial economic sectors, including Airport City, hospitality, luxury tourism, entertainment, real estate, major infrastructure, and essential supporting services. Geographic priorities for these prospective investments cover key regions across the country, most notably Bugesera, Kigali, and Musanze.
Chi Man Kwan, Group Chief Executive Officer of Raffles Family Office, highlighted the structural value of combining wealth advisory networks with sovereign development support:
“We are pleased to work with RDB on this exciting project. This strategic collaboration creates a compelling channel for our clients to explore Rwanda’s priority growth opportunities, including across sports, entertainment and infrastructure projects. By combining RFO’s cross-border investor network with RDB’s institutional support and project pipeline, we aim to channel long-term, patient capital into one of the continent’s most ambitious development stories.”
From the perspective of the Rwandan government institution, the partnership represents a critical stepping stone toward enabling sustainable private sector growth, enhancing public-private partnerships, and expanding job creation. Jean-Guy Afrika, Chief Executive Officer of the Rwanda Development Board, emphasised that the country’s sovereign ambitions extend into comprehensive commercial ecosystems:
“Formula 1 is a catalyst for a much broader investment ambition for Rwanda. Private sector participation is central to our approach, with opportunities extending well beyond the circuit into aviation, hospitality, tourism, entertainment, real estate and services. This partnership with Raffles Family Office brings an established private sector partner into our investment mobilisation efforts. We welcome further private sector participation in building businesses, creating jobs and generating lasting economic value beyond the race weekend.”
To support its operational execution and enhance direct engagement on the ground, Raffles Family Office established its dedicated Rwanda representative office in Kigali earlier this year. This physical presence strengthens RFO’s footprint within the region as it actively engages prospective global investors and organises dedicated delegation visits to Rwanda, allowing private capital holders to inspect local project sites and connect directly with potential project partners.
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