Faida Fund’s assets forecast to hit 70bn/- by mid-year

DAR ES SALAAM: THE Faida Fund Scheme, under Watumishi Housing Investment (WHI), is projected to record continued growth in assets under management, reflecting sustained investor interest and rising participation in collective investment schemes.

Currently, the Fund’s assets under management stand at 61bn/-, with projections indicating an increase to 70bn/- by mid-year, underscoring steady inflows and growing confidence among investors.

WHI Senior Communication Officer, Ms Maryjane Makawia, said the fund recorded particularly strong growth during the first and second quarters of the 2025/26 fiscal year following the introduction of e-Wekeza.

“The introduction of the Watumishi Portal has increased the appetite of public servants to buy units, as it provides a convenient way for employees to contribute to the fund without moving from one place to another or handling cash,” Ms Makawia said.

She attributed the increase largely to heightened public awareness and the expanded use of the Employee Self-Service (ESS) Watumishi Portal, which has made it easier for public servants to invest in the fund.

She added that the ESS Watumishi Portal has played a critical role in improving accessibility and convenience, thereby boosting participation in the Faida Fund Scheme.

“The ESS Portal has significantly increased public awareness and participation in the Faida Fund Scheme, helping to foster a culture of savings and long-term financial planning among investors,” she said.

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Ms Makawia said that by June last year, the Fund had mobilised 43.9bn/- since its establishment on January 2023, highlighting its rapid growth over a short period.

Additionally, she said that by mid last year, the fund’s Net Asset Value (NAV) stood at 132/48, with recent figures showing it has risen to 139/48 and projections indicating growth to 145/- by June this year.

She said the Faida Fund, which is part of WHI’s broader strategy, aims to provide accessible investment opportunities for public servants while promoting financial inclusion and sustainable wealth creation.