Dar es Salaam. The Minister of State in the President’s Office (Public Service Management and Good Governance), Ridhiwani Kikwete, has called on young Tanzanians to invest in the Faida Fund, highlighting its remarkable growth and the long-term financial benefits it offers. The fund’s assets now stand at Sh43.9 billion, a clear sign of its strength and sustainability.
Speaking on 17 January 2025 during the third Annual General Meeting of the Faida Fund Investment Year, organised by Watumishi Housing Investments (WHI), Kikwete stressed the importance of raising awareness about the fund, particularly among young people.
*Many young Tanzanians are financially successful, yet they lack guidance on safe and sustainable investment options,” he said. “Targeted investment education will encourage more youths to participate in the fund, which is savings-based and offers long-term value.”
The minister pointed to the fund’s strong performance, noting that management reports up to June 2025 show an increase in value from Sh25 billion the previous year to Sh43.9 billion. He added that over 200 companies have already invested, with the number of individual investors continuing to grow.
“Management should keep engaging institutions so that both Tanzanians and companies become key stakeholders in this fund,” Kikwete said.
Despite the fund’s growth, Kikwete revealed that only 1,200 government employees have invested so far, a figure he described as low compared with the total number of public servants. He urged public servants to take advantage of the fund to build savings, achieve financial independence, and prepare for retirement.
He also called on the fund’s management to intensify promotion and public education efforts to ensure more Tanzanians benefit from this investment opportunity.
WHI Board Chairman Fortunatus Magambo said the fund’s continued growth is a positive sign for national development. He reported that the number of investors has risen from 8,000 to 12,000, with a significant proportion being young people.
Magambo said that WHI is strengthening financial and investment education initiatives to attract even more investors, aligning with the Minister’s call for greater youth participation.
The Faida Fund offers young people a secure platform to grow their savings while contributing to national development. Its impressive growth demonstrates not only its viability but also the financial opportunities available to those who invest early and consistently.
