Faida Fund is an open-ended scheme, which seeks to create wealth to Tanzanians particularly to middle and low-income groups through investments in units to obtain competitive return through capital growth; and enhance the culture of savings in the financial assets. Faida Fund has attracted all categories of investors ranging from small investors like bodaboda, students, workers, retirees, peasants etc. to big investors. The Fund has been registered with Capital Markets and Security Authority (CMSA).

The fund is run by the WHI as a Fund Manager with professionals approved by CMSA. The scheme preserve the capital and offer high return through its investments policy.

Investment exclusively in safer short-term instruments such as treasury bills, certificates of deposit commercial paper and inter-bank call account money

Residents and non-resident Tanzanians, which includes individual (including minors) as well as non-individual investors like Pension Funds, Banks, Government Organizations, Regulatory Authority, Armed Forces, NGOs and other Corporate Bodies e.t.c.

Minimum amount to be invested during initial sale is TZS 10,000/= and subsequent additional investment TZS 5,000/=

No Maximum Investment Amount

The proceeds will be invested in money markets and debt securities with very low risk.

The scheme shall charge neither the entry load nor the exist load, thus investor shall be allowed to purchase as well as redeem units at the prevailing applicable NA.

Scheme units to remain open for repurchase on all business days;

Note: Repurchase to commence after a lock in period not exceeding 3 months from the initial sale closure date.

The repurchase will processed within 1-3 days of the receipt of the investors request by the Manager. Repurchase amount shall be directly credited into a unit holder’s back account or registered mobile telephone number.

As per current law, income distribution is exempted from income tax in the hands of investors. There is no tax deduction at source on the repurchase, irrespective of repurchase amount.

Units are sold or repurchase at the prevailing applicable Net Asset Value (NAV). Investors are advised to consider the NAV per unit of the fund at the time they contemplate buying the units.

Every eligible investor desirous of participating in the Scheme can be registered through the following:

1. By completing the application online via three options:

    (a) WHI website by clicking here

    (b) Mobile application through USSD using any Mobile Network:

           Dial *152*00#
           Select 1. Malipo
           Select 6. WHI
           Select 1. Tengeneza Akaunti ya Binafsi
           Then follow the procedures for registration.

    (c) Mobile application through the WHI Wekeza Mobile App.

2. by filling the manual application forms:

    (a) available at the WHI Main Offices or office branches

    (b)  by downloading from the website by clicking here

The timetable for the Initial Sale of ‘FAIDA FUND’ Units to the public is as follows: –

a)   Opening of the Offer:01st November, 2022
b)   Closing of the Initial Sale:31st December, 2022
c)   Scheme to open for Subsequent Sale02nd January, 2023
  1. Approval of unit Holder’s Register by CMSA:           05th January, 2023
  2. Notification of Results:                                                10th January, 2023
  3. Official launch:                                                               14th January, 2023
  4. Opening of repurchase operations on:                       01st April, 2023