Prime Minister Anastase Murekenzi has tipped a new fund under the Rwanda National Investment Trust Ltd (RNIT) as a vehicle that will deliver Rwanda to middle income status. He said this Tuesday as he launched the ‘Iterambere Fund’ which is intended to foster savings culture and as well mobilize resources domestically to spur economic growth. “I encourage all people and entities both government and private to take advantage of this opportunity to promote a savings culture not only for economic development but also for a promising future for all,” the Premier said. The Fund will be working with commercial banks and stockbrokers in a bid to help investors. The Fund has two options: income option (with minimum investment of Rwf100,000) and growth option (minimum investment of Rwf2,000), with no maximum limit. According to André Gashugi, the RNIT CEO, people who have invested in the Fund will be able to sell their units six months after the Initial Public Offer. During the initial the initial sale period, the units can be acquired through RNIT office or branch of collecting agents, which include banks and stockbrokerage. Currently, the banks include Bank of Kigali, Banque Populaire du Rwanda, Crane Bank, Ecobank, GT Bank and Umwalimu SACCO. For stockbrokers, they include offices of African Alliance, Baraka Capital, CDH Capital, Core Securities, MBEA brokerage and SBG Securities. editorial@newtimes.co.rw
