A decade after its launch, Rwanda National Investment Trust’s (RNIT) flagship Iterambere Fund has grown from fewer than 1,000 investors managing Rwf1 billion in its first year to more than Rwf86 billion in Assets Under Management (AUM) and over 350,000 unit holders. The milestone, celebrated on Sunday, July 12, 2026, marks a decade of growth and the start of a new phase, with the Fund seeking to broaden participation and triple its investor base over the next 10 years. Launched in 2016, the open-ended unit trust was established to provide Rwandans with an affordable and professionally managed investment platform while promoting a culture of saving among households and institutions. ALSO READ: Savings: Government rolls out RNIT Iterambere Fund Over the past decade, the Fund has attracted about 90,000 registered investment accounts, with unit holders including students, salaried workers, cooperatives and small businesses, according to Jonathan Gatera, RNIT Chief Executive Officer. Its assets under management registered steady growth, while cumulative deposits have reached Rwf150 billion since inception. The Fund mobilised more than Rwf60 billion in new savings in 2025 alone, reflecting growing confidence in collective investment schemes. The success of RNIT Iterambere Fund belongs to every investor who chose to save for a better future. Over the last ten years, we have demonstrated that disciplined saving, professional investment management and sound governance can transform lives while contributing to Rwanda's economic development,” he said. “As we begin the next decade, our ambition is to expand financial inclusion even further, embrace innovation and make investment opportunities accessible to every Rwandan,” he added. ALSO READ: RNIT Iterambere Fund grows to Rwf14bn despite Covid-19 From humble beginnings Speaking during the anniversary celebration, Gatera said the Fund’s growth reflects a shift in public attitudes towards saving and investing. Starting was not easy, but over the last 10 years we have registered remarkable and tangible impact, Gatera said, appreciating investors and other stakeholders for making the journey walkable. He noted that when the Fund was launched, only about 920 investors had joined, contributing approximately Rwf1 billion in a year. The mindset of people has changed because of sustained awareness campaigns. More young people are embracing investment, and this gives us confidence that the future is promising, he said. The value of each investment unit has also increased steadily, with the Net Asset Value nearly tripling from Rwf100 at launch to about Rwf275 this year. In the past six years, the annual returns remained above 11 per cent. Gatera attributed the Fund’s growth to disciplined investment management, financial education and increasing public trust. Growth milestone meets Rwanda’s savings challenge However, Gatera said Rwanda still faces a challenge in raising domestic savings, despite the Fund’s growth. The country’s savings rate remains below 15 per cent of GDP, below levels typically associated with faster economic transformation. “Countries that achieve faster economic transformation often save more than 30 per cent of GDP. This means we still have a long journey ahead, he said. He pointed out that expanding financial literacy will remain central to RNIT’s strategy. A key responsibility is not only encouraging people to save but also ensuring that their savings are managed prudently and continue creating value. According to Romeo Ngarambe, Chief Executive Officer at the Capital Market Authority (CMA), RNIT’s regulator, collective investment schemes are becoming increasingly important in broadening access to investment opportunities and strengthening Rwanda’s financial sector. Our focus continues to be strengthening investor protection so that the trust of small savers is never taken for granted, Ngarambe said. We are also enhancing market transparency, promoting good governance among market intermediaries, encouraging innovation in investment products suited to different income levels, and expanding financial literacy, particularly among low- and middle-income earners. As part of its investment strategy, RNIT has allocated more than 85 per cent of its funds to Treasury Bonds and 10 per cent to fixed deposits. Impact for investors For beneficiaries, the Fund’s impact goes beyond financial returns. Ezechiel Mulisa from Kigali said he joined the scheme in 2017 after learning about it during an exhibition. Starting with Rwf2,000, he gradually built his savings through regular contributions. I attended one of RNIT meetings and realised that some people had already saved millions through the scheme. That motivated me to save consistently, he said. The money I saved helped me prepare for my wedding, and I have continued saving for other projects. I save little by little, but it has made a significant difference in my life,” he said. ALSO READ: Why you should save and invest through RNIT Iterambere Fund Next decade: RNIT targets wider participation and deeper inclusion Looking ahead, Gatera said RNIT plans to accelerate growth through digital transformation, integration with Saving and Credit Cooperatives (SACCOs) and commercial banks, introduction of new investment funds, and broader financial inclusion. The institution also plans to advance the listing of its Fund on the Rwanda Stock Exchange and increase participation among women, who currently account for about 37 per cent of investors. We will continue deepening financial literacy, strengthen digital investment platforms and ensure more Rwandans can participate in collective investment schemes, Gatera said. We hope to mobilise more savings, increase investments and contribute even more to Rwanda's economic transformation,” he noted, stressing that the Fund’s strategic plan is to triple the number of unit holders, eventually increasing assets under management.”
