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Rwanda’s RNIT Iterambere Fund mutual fund turns to FinTech solution to democratize Savings and Investment

by Milicent Atieno
RNIT Iterambere Fund

Rwanda’s first Unit, RNIT Iterambere Fund launched in July 2016 and now boasting of worth over Rwf1.2 billion, is opening up to micro-investors via the mobile platform. [RNIT – Rwanda National Investment Trust]

RNIT Iterambere Fund wants to include small scale Rwandese investors into the investors’ bracket, by making investment simpler, quicker, and secure through a mobile phone. As it works out, the micro investors will be able to invest into the Fund from the comfort of their homes or office via mobile money. This initiative will also improve the Unit Fund’s collection and mobilization of funds to strengthen access to savings and investment vehicle.

We are working with different stakeholders and telecom firms to further ease collection of funds from investors… We are also assessing ways we can use mobile phones to save or invest with the Fund, said Andre Gashugi, the RNIT CEO. “We will install the system once the assessment is completed.”

RNIT Iterambere Fund is targeting small-scale investors because it wants “all Rwandans to benefit from the saving and investment opportunities offered by RNIT Iterambere Fund. This will also promote financial inclusion targeting, mainly people with little means,” added Gashugi.

The Rwanda’s Capital Market Authority CEO, Robert Mathu acknowledged the Trust role in helping small-scale investors take part in the financial markets. At the same time, mobilize long-term investment funds.

Through RNIT, individual investors also have access to investment advice and do not have to hire their own fund managers since all of them are aggregated and served by the Trust, said Mathu.

Justin Hirwa, a micro-investors attest that the Fund gives them a disciplined, flexible, and convenient platform for saving and investing their money. Hirwa reckons that it is important for one to have a culture of saving and investing to become self-reliant.

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