Raffles Family Office (RFO) has signed a strategic agreement with the Rwanda Development Board (RDB) to attract international private investment into Rwanda, with a focus on infrastructure, tourism, hospitality and commercial developments linked to the country’s wider economic ambitions. The partnership aims to connect RFO’s network of ultra-high-net-worth individuals, families and private investors across Asia and Africa with investment opportunities in Rwanda.

Through the collaboration, both parties intend to mobilise hundreds of millions of dollars in new private foreign investment over the coming years. The agreement comes as Rwanda prepares for the planned arrival of the Formula 1 African Grand Prix in the early 2030s. Under a 10-year agreement with Formula 1, the race, presented by Visit Rwanda, is set to take place at a purpose-built circuit near the country’s new international airport in Bugesera.

However, the investment initiative extends beyond the race itself, with opportunities expected across several sectors, including aviation, tourism, entertainment, real estate, infrastructure, and supporting services. Potential projects will be located in Bugesera, Kigali, Musanze and other parts of Rwanda, creating opportunities for investors to participate in commercially viable developments intended to support long-term economic growth.

Chi Man Kwan, Group Chief Executive Officer of Raffles Family Office, said the agreement would provide the firm’s clients with a channel to explore Rwanda’s priority investment areas, particularly in sports, entertainment and infrastructure. By combining RFO’s international investor network with RDB’s institutional support and project pipeline, the partnership aims to attract long-term capital to support the country’s development plans.

Jean-Guy Afrika, Chief Executive Officer of the Rwanda Development Board, said Formula 1 was part of a broader investment strategy rather than an isolated sporting project. He noted that private sector participation would be essential to developing opportunities across aviation, hospitality, tourism, entertainment, real estate and related services. The objective is to encourage businesses to establish operations, create employment and generate lasting economic value beyond the race weekend.

RFO has also strengthened its presence in the country, having established a representative office in Kigali earlier this year. The office is intended to support its engagement with investment opportunities in Rwanda and the wider African market. Following the agreement, RFO has begun engaging prospective investors and plans to organise visits to Rwanda. These visits will allow interested parties to assess potential projects and meet prospective local partners.