Tanzania’s CMSA approves five new investment schemes to spur wealth creation

Tanzania’s CMSA approves five new investment schemes to spur wealth creation

Dar es Salaam. The Capital Markets and Securities Authority (CMSA) has approved the prospectuses and operational agreements of five collective investment schemes with iTrust Finance Limited.

The announcement was made yesterday by CMSA CEO, Mr Nicodemus Mkama, who emphasised that the primary objective of these funds is to enable small, medium, and large investors to pool their resources and capitalise on opportunities within the financial sector, particularly in the capital markets.

“By approving these collective investment schemes, we are encouraging investments and boosting capital flow, which is vital for economic growth,” Mr Mkama said.

He further noted that the approval allows a broader segment of the population to access financial products, diversify their investments, and stimulate economic activity.

According to Mr Mkama, fostering a more active and transparent financial market will lead to increased investor confidence, improved economic stability, and potentially higher returns on investments.

He noted that such initiatives often result in job creation, infrastructure development, and better resource allocation across various sectors, further contributing to overall economic growth.

The chief executive of iTrust Collective Investment Fund, Prof Mohamed Warsame, elaborated on the launch of the iTrust Collective Investment Fund, a pooled investment scheme designed to allow multiple investors to combine their capital and invest in a diversified portfolio that includes equities, bonds, bank deposits, and other securities.

“This launch marks a significant step towards providing both individual and institutional investors in Tanzania with access to a professional investment management system aimed at growing their wealth while reducing risk,” Prof Wasame explained.

He outlined that the iTrust Collective Investment Fund operates in five key areas, including fundraising, where capital is sourced from individuals, groups, institutions, and organisations to create a sizable fund for investment.

A professional fund manager will oversee the fund’s portfolio, making informed decisions to ensure a balanced mix of investments.

“The fund is diversified across various asset classes, which helps to minimise risk and increase the likelihood of generating stable returns,” he added.

Prof Warsame further explained that the fund will generate earnings from its holdings, including interest on bonds and capital gains from appreciating equities.

These returns will be distributed to investors in proportion to their share of the fund, enhancing the value of their investments.

Key benefits for investors include diversification, which minimises risk and maximises potential returns by spreading investments across various asset types.

By diversifying the portfolio, the fund aims to mitigate the impact of poor-performing assets on overall investment performance.

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Tanzania's opposition party ACT Wazalendo honours veteran politician under new policy
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Tanzania’s opposition party ACT Wazalendo honours veteran politician under new policy

Unguja. Opposition party ACT Wazalendo today officially bids farewell to its former Chairman, Juma Duni Haji, also known as Babu Duni, as part of a new policy designed to honor retired senior leaders at a ceremony held at Kiembesamaki, Zanzibar.

The initiative highlights the party’s commitment to recognizing and supporting individuals who have served with dedication and integrity.

Babu Duni, who stepped down earlier this year, was succeeded by Othman Masoud, now the First Vice President of Zanzibar.

The policy aims to provide ongoing respect and support to retired leaders, ensuring their continued recognition and contribution to the party’s development.

“Recognizing their significant contributions to the development and prosperity of the party, this policy ensures that retired leaders continue to be acknowledged and respected by both the party and the community,” the policy states.

To benefit from this policy, leaders must not have left or been expelled from the party. They must have served the party with honor and dedication. The national leadership committee will determine whether a leader has fulfilled these criteria.

The policy seeks to honor retired leaders, protect their dignity, acknowledge their contributions, leverage their ideas for the party’s growth, and support them to the best of the party’s ability.

In honoring these leaders, the party will provide a vehicle, the type of which will be determined by the national leadership committee. Additionally, they will receive a monthly allowance, with the amount also set by this committee.

Other benefits include health insurance. If a leader does not own a home, the party will cover their rent at a rate decided by the committee.

The leadership committee may also grant special recognition based on the leader’s contributions. Retired leaders will participate in decision-making meetings according to procedures outlined in the party’s constitution.

Depending on the party’s resources at the time, the policy may also apply to retired deputy chairpersons for both the mainland and Zanzibar, the Secretary-General, Deputy Secretary-General for both mainland and Zanzibar, and the party’s Attorney General.

Additionally, leaders, executives, or members with exceptional contributions to the party’s protection, advocacy, and defense may also benefit, as determined by the leadership committee.

Currently, those who are eligible for benefits under this policy include Juma Duni Haji (retired party Chairman) and Zitto Kabwe (retired party leader).Continue Reading

‘No Marburg Confirmed In Tanzania’, But Mpox Remains ‘Public Health Emergency’
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‘No Marburg Confirmed In Tanzania’, But Mpox Remains ‘Public Health Emergency’

‘No Marburg Confirmed In Tanzania’, But Mpox Remains ‘Public Health Emergency’

Monrovia — The Director General of the African Centers for Disease Control, Jean Kaseya, has said the center stands ready to support Tanzania and other countries in the region where suspected cases of the infectious Marburg Virus Disease have been identified. The World Health Organization earlier this week issued an alert warning of a possible outbreak in the country, although the Tanzanian Health Ministry has said tests conducted on available samples did not show the existence of Marburg in the East African nation.

“As of the 15 of January 2025, laboratory results from all suspected individuals were negative for Marburg Virus,” Tanzanian Health Minister Jenista Mhagama said in a statement. This would have marked the country’s second experience with the highly infectious disease that recently killed over a dozen people in neighboring Rwanda. Tanzania previously reported an outbreak of Marburg in 2023 in the  Kegara region, said to have been the epicenter of the new suspected cases.

At the Africa CDC online briefing on Thursday, Kaseya also said another infectious disease, Mpox, “remains a public health concern”. He said that while in December 2024, the disease had afflicted 20 countries, a new country – Sierra Leone – has been added to the number after recent outbreak there. Sierra Leonean health authorities said on January 10 that two cases of Mpox had been confirmed in the country and dozens of contacts are being traced.

With thousands of confirmed cases of Mpox across Africa and more than 1000 people having died of the disease  – mainly in Central Africa – Kaseya emphasized the need to increase testing, a theme he’s heralded before. The Africa CDC boss said over the next few months the continental health watchdog will deploy additional epidemiologists and community health workers to areas considered hot spots of infectious diseases in the region.

Source: allafrica.com

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