Bunge Committee seeks wider participation in FAIDA Fund

DODOMA: THE Parliamentary Standing Committee on Administration, Constitution and Legal Affairs has called for intensified public education on FAIDA Fund to boost participation among public servants, saying greater awareness could help workers grow their savings, improve their financial security and prepare for home ownership.

The call follows the fund’s growth in net asset value to 168.11bn/- from its initial capital of 12bn/- at its launch in November 2022, as the Parliamentary Standing Committee on Administration, Constitution and Legal Affairs pushes for wider participation in the investment scheme.

By June 2026, a total of 4,918 public servants had joined the scheme, contributing 1.2bn/- through the e-Wekeza digital platform, which enables monthly investments through salary deductions.

Speaking during a recent visit to Watumishi Housing Investments (WHI) projects in Dodoma, the Committee’s Deputy Chairperson, Mr Edwin Swalle over the weekend said participation remained low compared with the country’s public workforce.

“Public servants have a significant investment opportunity through this fund, but many still lack sufficient information about its benefits. We appeal for more education so that more workers can participate,” he said.

Mr Swalle said the fund could help public servants build savings and strengthen their financial capacity to own homes, while mobilising resources for housing projects targeting workers.

ALSO READ: Bunge committee supports geoscientists board establishment

WHI Director of Finance and Investment, Paskali Massawe, said the fund’s unit value had risen from 100/- to approximately 157/-, while dividends had ranged between 12 and 14 per cent.

He said the fund aimed to grow investors’ capital while promoting a savings culture through regular contributions, allowing individuals to invest small amounts rather than wait until they had accumulated substantial sums.

“This approach can help public servants prepare financially for life after employment and improve their ability to meet essential needs, including housing,” he said.

Mr Massawe added that investors could contribute digitally through mobile phones, with the system linked to the government payment platform to facilitate salary deductions and reduce transaction costs.

Minister of State in the President’s Office responsible for Public Service Management and Good Governance, Ridhiwani Kikwete, said the first investment window was launched on June 23, 2025, allowing public servants to invest through monthly salary deductions.

He said the initiative was intended to strengthen workers’ financial capacity and improve their ability to purchase homes before retirement.

He urged more public servants to join, noting that participation remained low relative to the size of the workforce. Mr Massawe explained that WHI manages investment arrangements with different objectives.

While one focuses on financing housing projects, FAIDA Fund enables individuals and other investors to grow their capital and build financial capacity for future home ownership.

He said the housing investment fund mobilises resources from institutional investors, while FAIDA Fund also targets individual public servants and other investors seeking longterm investment opportunities.