For nearly a decade after starting his legal career in 2010, Moise Nkundabarashi diligently saved for the future, believing that setting aside part of his income each month would secure his family's financial wellbeing. The nature of the economy we live in today does not allow us to consume everything we earn. Every day we grow older, and retirement is inevitable, he said. But after years of saving, Nkundabarashi, a lawyer at Trust Law Chambers and President of the Rwanda Bar Association (RBA), realised that keeping money in a bank account was not enough. I spent many years saving without investing. That meant my money was sitting idle instead of generating more income, he told The New Times. From saving to investing About four years ago, Nkundabarashi learnt about the RNIT Iterambere Fund, a collective investment scheme managed by the Rwanda National Investment Trust (RNIT). After carrying out due diligence, he decided to invest. The first thing we did was conduct due diligence on RNIT and what it offers, he said. Since then, he has consistently reinvested all his returns instead of withdrawing them. The money I invested continues to earn returns, and every interest payment is reinvested. I have never withdrawn a single franc because I have a long-term vision. I am looking ahead to retirement, he said. He declined to disclose the size of his investment, saying it is a private matter shared with his wife. His key lesson is simple: saving should go hand in hand with investing. If you save money and leave it in a dormant account, inflation will gradually erode its value. Your money should be working for you. Encouraging others Convinced of the benefits, Nkundabarashi encouraged fellow lawyers, friends and relatives to invest in the fund. As interest grew, the Rwanda Bar Association decided to invest part of its annual membership subscriptions to strengthen its financial position. Each year, we approve a budget and set aside part of our membership contributions because we want to build the association's financial capacity, he said. Today, the association has invested about Rwf1.3 billion through the RNIT Iterambere Fund. According to Nkundabarashi, the investment has generated between Rwf250 million and Rwf300 million in compound returns, which are exempt from corporate income tax. Rather than cashing out, the association reinvests all earnings, allowing compound interest to continue growing the fund. Our goal is to become financially self-sustaining so we can finance both our operations and support our members using our own resources, while also contributing to the country's economy through investments, he said. The association is also exploring other long-term investments, including establishing a Lawyers' Savings and Credit Cooperative (SACCO), investing in real estate and, eventually, setting up a bank. Discipline is key Nkundabarashi believes the biggest obstacle to saving and investing is not income, but mindset. Most people say what they earn is not enough to cover their expenses. That can only change through discipline. It is the only way out, he said. He argued that financial independence requires consistent saving, disciplined investing and a long-term outlook. You cannot claim to be independent if you are not financially independent. Financial independence is about taking control of your life. RNIT marks a decade of growth Nkundabarashi's experience mirrors the growth of the RNIT Iterambere Fund over the past decade. Launched in 2016 as Rwanda's first collective investment scheme, the fund has grown into one of the country's leading investment vehicles, driven by rising public confidence in collective investments and capital markets. Its assets under management have increased from Rwf1 billion at launch to Rwf86 billion as of July 12, 2026, when it celebrated its 10th anniversary. The fund now has about 90,000 investment accounts, representing more than 350,000 unit holders, including students, young professionals, salaried employees, cooperatives, small businesses, families and institutional investors. RNIT says it aims to triple its investor base over the next decade. The fund has delivered annualised returns of more than 11 per cent, while its Net Asset Value (NAV) per unit has risen from Rwf100 in 2016 to Rwf274 in 2026, reflecting sustained growth in investor wealth.
