The government launched a financial literacy campaign about two years ago. The campaign also has a component on deepening the savings culture in the country. The initiative also seeks to enhance deposits to reduce dependence by commercial banks on foreign funds and ensure sustainable domestic sources of development finance.

Rwanda National Investment Trust (RNIT) was established by the government with a mission to promote and manage funds, including unit trusts, with a view to augment the domestic resource mobilisation. Unit trusts are types of collective investment schemes that pool money together from many investors who have similar investment objectives.

The pooled money is managed by a professional manager (RNIT in this case) who invests it in a portfolio of securities such as bonds, money market instruments and shares or other authorised securities. This also contributes to the expansion and deepening of the capital market. The first unit trust in the country, RNIT Iterambere Fund, was launched on July 12, 2016.

The Fund’s IPO raked in over Rwf1 billion and its net asset value opened at Rwf102 on subsequent sale, and is now at Rwf102.20 (as of Thursday December 30). Currently, the Fund is invested in a mix of debt instruments.

A unit trust such as the RNIT Iterambere Fund, which is designed for safety, liquidity and return, is able to give a good opportunity for asset diversification. As an open-end product, it serves to be a near cash product, which institutions, individual investors, co-operatives, staff fund associations, among others, can invest in.

Given the nature of markets currently, the fund portfolio has been constructed as a 100 per cent debt portfolio and as such has visibility of returns. Being low on risk and having visibility of an expected return above 9 per cent annually, it is able to reduce the overall portfolio risk and helps savers or investors to achieve diversification.

There is no limitation on how much one can invest in the fund, which is either by pooling in a lump sum or by opting for the systematic investment plan. This is an easy facility that helps regular income earners, for example, public servants, and private business operators, to invest a fixed sum regularly on a given date each month, that one can implement a saving plan.

The fund offers two investment options; income option for investors who need to get their income/return as declared periodically, with a minimum investment of Rwf100,000, and the reinvestment option for investors who want their declared income to be reinvested and the minimum investment is Rwf2,000. In both options, there is no maximum limit.

RNIT Iterambere Fund opportunities

RNIT Iterambere Fund provides for ongoing repurchase, which means unit holders can redeem their units either partially or in full by filling up a repurchase form for the purpose.

Since it is the fund itself that is buying back units on a weekly basis every Thursday, investors need not wait for matching counterpart or buy orders. In cases there is no change in bank particulars, the form can even be submitted by email.

The units will be redeemed at NAV less the applicable exit load and funds would be sent by bank transfer.

Repurchase requests will be accepted on every business day and considered for processing every Thursday (with applicable NAV of next business day) on an ongoing basis, commencing on March 16, 2017.

Saving and investing in the RNIT Iterambere Fund provides a disciplined, flexible and convenient way of saving with long-term investment gains.

As Rwanda embraces the spirit of Kwigira or self-reliance as a way of life and has consistently managed to sustain economic growth, it is equally important to sustain the enthusiasm underscored in this spirit and growth rate.

Investing in RNIT Iterambere Fund is an opportunity to the investors to benefit from the growth of the Rwandan economy as consumption sustains today’s life but investment sustains future for both individual and institutional investors. RIF is open-ended to serve that purpose.

The writer is the marketing, sales and public relations manager at

Rwanda National Investment Trust (RNIT)

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12 Responses

    • mwaramutse neza Nsengiyumva? ntamategeko bisaba wowe upfa kuba ubishaka gusa, kubindi bisobanuro mwatugana aho dukorera muri cogebank building muri floor ya 6 cyangwa mukaduhampagara tukabasobanurira.

      murakoze

      • 1. Can teenagers invest?
        2. What is the minimum amount one can contribute?
        3. If you invest using the momo pay, can you still withdraw or get the money using momopay? Or we go to the office??

    • The Rwanda National Investment Trust Ltd (RNIT Ltd) has been incorporated as an investment management company on 1st August 2013 and has been licensed by CMA on 7th July 2015. The company code of RNIT Ltd is n° 103050292, with an initial share capital fully paid up by the Government of Rwanda represented by Ministry of Finance and Economic Planning.

      As a company whose 100 % shares are owned by the Government, RNIT Ltd has been established through a cabinet paper, to promote and manage funds including unit trusts with a view to encourage savings for investment in the capital market. As such the Board of Directors and the Chief Executive are cabinet appointments.

      RNIT Ltd falls under the objectives of the Government of Rwanda of promoting the culture of savings. To this effect, RNIT Ltd designs and launches products that suit various investment needs to catalyze wider participation in capital market as well as augment the domestic resource mobilization.

      Although it is demonstrated that Rwanda is on a growth trajectory, no country can insulate itself fully from external shocks. A resilient domestic market serves as a cushion to absorb the shocks and quickly come on course to steer the economy to growth.

      Structure of RNIT Iterambere Fund is as follows :

      As can be seen from the diagram, RNIT Iterambere Fund has been created through a Trust Deed. RNIT Ltd, as an investment management company fully owned by the Government of Rwanda is the Promoter / Investment Manager and has appointed a Trustee comprising of five independent members forming a Board of Trustee.( Dr Joseph Nzabonikuza, DG Special Guarantee Fund, Mr. Eugene HAGUMA, CEO Horizon Group, Mrs. Jacqueline MUGWANEZA, CEO Rwanda Bankers’ Association and Mr. Herbert ASIIMWE, Director of Banking and Non Banking Sector, MINECOFIN, Mrs. Alice MUSANIWABO, Director of Fixed Income Investments, RSSB).

      Trustees represent the unit holders and protect their interest in the Fund. National Bank of Rwanda (BNR) is the Custodian of the Fund.

      The unit holders invest in the Fund and receive returns net of fees / expenses. The Fund is a pass- through vehicle, which directly invests in approved securities through the capital market. Moreover being open – ended fund it sells and repurchases units on a continuous basis. Unlike a stock exchange, the unit holder does not have to wait for matching of trade by a counterparty as the fund undertakes to create or extinguish units based on the sale or repurchase request.

      Investing directly with RNIT in three simple steps:

      1. Fill the application form ( Click here to download it or visit our office)

      2. Pay the desired amount either by payment order, cheque (The payment order or cheque should be drawn in the name of ‘RNIT ITERAMBERE FUND’)or by bank transfer payable to custodial account no. 1000033185 of RNIT ITERAMBERE FUND at BNR (SWIFT Code : BNRWRWRW)

      3. Submit the filled application form with payment details and requisite documents to RNIT office against a receipt or scan it and email to : iterambere.fund@rnit.rw

      Care: Please do not handover cash to any person other than the designated collecting bank For more details, Please refer to the Offering Document of RNIT Iterambere Fund.

      Invest from abroad

      Investing while you are based outside Rwanda is also simple:

      1. Fill the application form (Click here to download it)

      2. Pay the desired amount either by bank transfer payable to custodial account no. 1000033185 of RNIT ITERAMBERE FUND at BNR (SWIFT Code : BNRWRWRW)

      3. Scan the filled application form with payment details and requisite documents to RNIT office by email at : Iterambere.fund@rnit.rw

      Care: Please do not handover cash to any person other than the designated collecting bank For more details, Please refer to the Offering Document of RNIT Iterambere Fund.

      • NibyizA kuba mwadushyiriyeho iki kigega.

        Nabazaga :

        Ukoze investment ya 2000rwf ,wungukirwa gute?

        Ese ushobora kwifashisha imigabane ufitemo usaba inguzanyo haba mukigega ubwacyo Cg igafatwa nkigwate muyandi mabank?

        Bibaye ngobwa ko uvamo Cg nyirimigabane yapfuye bigenda bite?

        Munsobanurire neza uburyo / steps bisaba ngo utangire wizigamiremo.

        Murakoze

      • Hi, mwambwira nkumuntu utaba mu gihugu ibisabwa NGO afungure , ikindi inyu ngu Ku mwaka zihagaze zite nkumuntu abitsemo 100000 Rwandan francs nyuma yumwaka ayakeneye yabona angahe ,thank uu

  1. 1.nonese inyungu uyibona mugihe ??kingana gute ex: ushoye nka 50000rwf
    2. kuyabikuza ubigenza gute ??
    3.nkiyo uyishyuye kuri bank nyuma yaho bigenda bite??

    • hello? amafaranga ushoye yunguka buri munsi, naho kuyabikuza nigihe ushakiye urayaka ukayahabwa, iyo uyishyuye kuri bank tubibona muri system yacu akaza kuri compte yikigega ntakibazo.

      murakaza neza muri RNIT Iterambere fund

      murakoze

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