For Immediate Release
SINGAPORE & HONG KONG, 22 October 2026 – Raffles Family Office (“RFO”), a leading Asian multi-family office, today announced that it has signed a strategic capital mobilisation and investment promotion agreement with the Rwanda Development Board (“RDB”) to expand private sector participation in Rwanda.
Through the partnership, RFO will engage its network of ultra-high-net-worth individuals, families and private investors across Asia and Africa, with the aim of mobilising hundreds of millions of dollars in new private foreign investment over the coming years.
The collaboration follows Rwanda’s ten-year agreement with Formula 1 to host the Formula 1 African Grand Prix, presented by Visit Rwanda, from the early 2030s. The African Grand Prix will take place at a new purpose-built circuit near Rwanda’s new international airport in Bugesera.
Investment opportunities will span Airport City, hospitality, tourism, entertainment, real estate, infrastructure and supporting services in Bugesera, Kigali, Musanze and across Rwanda. The partnership connects international private capital with Rwanda’s project pipeline and creates opportunities for investors to participate in commercially viable developments that support long-term economic growth.
Chi Man Kwan, Group Chief Executive Officer of Raffles Family Office, said: “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.”
Jean-Guy Afrika, Chief Executive Officer of the Rwanda Development Board, said: “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.”
Earlier this year, RFO established its Rwanda representative office in Kigali, strengthening its presence in the country and its engagement with investment opportunities across Africa.
RFO has begun engaging prospective investors and plans to organise investor visits to Rwanda to explore opportunities and engage with potential project partners.
(From the right) Chi Man Kwan, Group Chief Executive Officer of Raffles Family Office, and Jean-Guy Afrika, Chief Executive Officer of the Rwanda Development Board, at the RFO Annual Forum in Singapore.
Rendering of the planned African Grand Prix circuit in Bugesera, near Rwanda’s new international airport. The race, presented by Visit Rwanda, is expected to join the F1 calendar in the early 2030s. The circuit is part of a wider sports, tourism, infrastructure and commercial development.
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About Raffles Family Office
Raffles Family Office (RFO) is a multi-family office, providing wealth management services to ultra-high-net-worth individuals and families. Its integrated platform offers advisory and investment solutions across a broad range of asset classes, suppoted by an international network of financial institutions partners. With dual headquarters in Hong Kong and Singapore, RFO’s presence includes Bangkok, Beijing, Shanghai, and Taipei. For additional information, visit https://www.rafflesgroup.co.
About the Rwanda Development Board
The Rwanda Development Board (RDB) is a government institution mandated to accelerate Rwanda’s economic development by enabling private sector growth. RDB promotes and facilitates investment, supports export and tourism development, advances public-private partnerships and works to improve the business environment. Through its investment promotion, facilitation and aftercare services, RDB supports domestic and international businesses to establish, operate and expand in Rwanda. For more information, visit www.rdb.rw
Media contact: [email protected]
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