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South Africa : SIGN OF Dignity- ADF.

Agaciro Development Fund, Late last month, Rwandans launched, a move set to raise more domestic resources to help accelerate economic development.

Less than fifteen days ago, over Rwf 5 billion has been raised, since its launch.

The Fund would not replace the traditional sources of state revenues, including donor aid, although it will supplement them instead.

The solidarity fund has been initiated by Rwandans to improve the level of financial autonomy of the nation which is the first of its kind in Africa, emphasized by John Rwangombwa, Minister of Finance and Economic Planning.

"Africa needs to think about home-grown solutions to their problems,"said by Nkurunziza, a businessman based in Kigali.

Rwangombwa recently after the official launch, observed "Rwandans have shown the world that they can work together to drive their own development; giving the entire population a higher level of direct ownership in the nation's projects."

African countries depend largely on foreign aid, this has made Rwanda to stand out of the crowd and reduce dependency on foreign donor support.

Rwanda has always viewed goal to become aid independent and valued the partnership shared with many of donors.

To build more autonomous and sustainable Rwandan economy for the future, the fund will work in tandem with all development policies.

Currently at the launch, Agaciro fund got off to a roaring start where Rwandans and friends of Rwanda raised over Rwf1.2 billion ($2 million) on a single day.

During the National Dialogue (Umushyikirano), in 2011, the idea was floated and a two day annual event, hosted by the President where ideas are openly exchanged and progress examined with national and global participation with the use of modern technology.

"People are committed; they are contributing in groups like at the district level, in Banks via Agaciro fund accounts and our task is to collect the money."said by Mr. Ronald Nkusi, Director of External Finance in the Ministry of Finance.

some government agencies - through their employees have contributed hundreds of millions to the fund, since its inception.

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Publication:Mena Report
Geographic Code:6RWAN
Date:Sep 3, 2012
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