The CEO of WHI, Dr Fred Msemwa, said the target was to collect Sh7.5 billion from the sale of units, which started in November and continued through December last year. Due to great response, the value of a unit has increased to Sh100.54 from the initial Sh100, and is expected to rise further.
According to Dr Msemwa, in a period of two months, a total of 3,800 investors have registered with the fund, out of which 800 have made investments as applications continue to flow. He also mentioned that the use of the Government Electronic Payment Gateway (GePG) has also contributed to the fund exceeding its target.
The fund manager stated in addition to the money invested, the fund has invested in government bonds in an effort to expand and boost revenues. He has reassured investors that their money is safe and that the fund is managed by experienced professionals with a proven track record.
Dr Msemwa added that the investors came from four groups: individuals, groups, children under 18 years and various institutions, including bodabodas, farmers, food vendors, fishermen, and public servants. He emphasized that the fund is open to all, regardless of their background or financial situation.
Prime Minister Kassim Majaliwa is expected to officially launch the Faida Fund on Saturday. He added that the fund will be very profitable as charges are low, and it aims to help small investors who are unable to invest in the capital markets due to a lack of capital.
The head of Capital Markets and Financial Services at CRDB, Mr Masumai Hemed, said that the bank is happy to be the custodian of the fund because it has had a great response. He added that the bank has 15 years of experience managing investors’ deposits, so the funds are safe because there are good systems that ensure the records and calculations are safe all the time.
“This fund has many advantages, as investors can use it as a guarantee to apply for bank loans,” said Mr Hemed.
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Africa: Rwanda Gets a Grip Of Marburg, But Mpox ‘Not Yet Under Control’
Monrovia — The Rwanda Minister of State responsible for Health, Dr. Yvan Butera, cautioned that while the country is beginning to see positive signals in its fight against the Marburg virus, the outbreak is “not yet over”. He, however, expressed hope that “we are headed in that direction”. The minister said the epidemiology trend, since the disease was first discovered in the country more than a month ago, is moving towards fewer cases.
Dr. Butera, who was giving updates during an online briefing yesterday, said in the past two weeks, only two deaths were recorded while 14 people recovered from the disease. He said Rwanda was expanding its testing capacity with 16,000 people already inoculated against the disease.
The priority right now, Butera said, is “rapid testing and detection”.
Marburg is a highly virulent disease transmitted through human-to-human contact or contact with an infected animal. The fatality rate of cases, which has varied over the period, is more than 50%, according to the World Health Organization. WHO said the highest number of new confirmed cases in Rwanda were reported in the first two weeks of the outbreak. There’s been a “sharp decline” in the last few weeks, with the country now tackling over 60 cases.
At Thursday’s briefing, a senior official of the Africa Centers for Disease Control, Dr. Ngashi Ngongo, said mpox – the other infectious disease outbreak that countries in the region are fighting – was been reported in 19 countries, with Mauritius being the latest country to confirm a case. He said although no new cases have been recorded in recent weeks in several countries where outbreaks occurred previously – including Cameroon, South Africa, Guinea, and Gabon – Uganda confirmed its first Mpox death. This, he said, is one of two fatalities reported outside Central Africa.
Dr. Ngashi revealed that there was an increase in cases in Liberia and Uganda. He said mpox cases were still on an upward trend.
“The situation is not yet under control.”
Source: allafrica.com
East African Community Bloc Dismisses Fake Common Currency
The secretariat of the East African Community (EAC) regional bloc has dismissed a post on X, formerly Twitter, which claimed that the bloc’s member countries have launched a common regional currency.Continue Reading
Tanzania readying to talk to British developer over Zanzibar land lease revocation
Dar es Salaam. British firm Pennyroyal Limited has said it will sue the Tanzanian government over leasehold revocation in Zanzibar, but the Attorney General has confirmed that they are preparing to meet with the investor.Continue Reading
