The Rwanda National Investment Trust Ltd (RNIT) has announced plans to list its Iterambere Fund on the Rwanda Stock Exchange (RSE), a move aimed at enhancing visibility and positioning the fund for potential market trading in the future.
The development comes amid growing investor interest in unit trust funds, driven by an improving savings culture and a rising appetite for diversified investment opportunities.
A unit trust fund is a regulated, low-risk investment vehicle that allows individuals to pool resources, earning higher returns than traditional savings accounts while maintaining liquidity.
Iterambere Fund’s assets are allocated across a diversified portfolio, including money market instruments, cash deposits, and debt securities issued by the Government of Rwanda and private sector entities.
During a session organised by the Capital Market Authority (CMA) on ‘Investing in Collective Investment Schemes in Rwanda’s Capital Market,’ RNIT CEO Jonathan Gatera revealed that the fund, currently managing Rwf43 billion in assets, has experienced heightened activity in unit repurchases.
“Rwf18 billion worth of units were repurchased, meaning this capital was reinvested into the economy,” Gatera said. “The majority of investors selling their units were redirecting funds into other business ventures, and we often see them reinvesting once those ventures take off.”
To further deepen Rwanda’s investment landscape and foster a stronger savings culture, Gatera emphasised that listing on the RSE will be a key strategic step.
“We plan to list on the stock exchange – not for immediate trading, but to boost visibility and allow investors to track performance trends, particularly through daily net asset value (NAV) updates,” he noted. “At a later stage, we aim to enhance our system to facilitate trading.”
RSE CEO, Pierre-Célestin Rwabukumba, urged more players in the collective investment schemes (CIS) sector to leverage listing for market visibility and investor engagement.
“I challenge Aguka Trust Fund (managed by BK Capital) to also consider listing. It would reinforce the momentum in the capital markets and give the public greater insight into investment opportunities,” Rwabukumba said.
Industry experts highlight that Rwanda’s capital markets are well-positioned to accommodate various CIS models, including exchange-traded funds (ETFs), pension and provident funds, real estate investment trusts (REITs), private equity and venture capital funds, infrastructure funds, and hedge funds.
With increased awareness and product diversification, the growth of unit trust funds could play a pivotal role in mobilising domestic savings and channeling capital into Rwanda’s economy.
