Watumishi Housing Investment (WHI) says assets under management in its Faida Fund have exceeded TZS100 billion, nearly four years after its launch, reflecting growing investor confidence in the collective investment scheme amid rising interest in alternative savings and investment products.
The fund, which was established in 2022 with an initial capital of TZS12 billion, has also maintained annual returns of more than 13 percent, according to WHI Chief Executive Officer, Eng. Sephania Solomon.
Speaking during a visit to the WHI pavilion at the 49th Dar es Salaam International Trade Fair (Sabasaba) on Wednesday, Solomon said the fund's rapid growth demonstrates increasing public trust in professionally managed investment products.
"Faida Fund has grown from TZS12 billion at its inception to more than TZS100 billion. We have continued to deliver annual dividends of over 13 percent, and we encourage Tanzanians from all walks of life to take advantage of this opportunity to build long-term wealth," he said.
He said the fund's digital investment platform enables investors to register, invest and monitor their portfolios remotely without visiting WHI offices, making the product more accessible across the country.
Alongside promoting the investment fund, WHI used the trade fair to showcase its affordable housing programme, which targets public servants and other homebuyers.
Solomon said construction of 66 housing units in Dodoma is expected to be completed by February 2027, with a further 120 homes planned in the next phase.
Prospective buyers can reserve homes and begin making payments while construction is ongoing.
WHI is also preparing to launch a new housing project comprising more than 250 units at Mbezi Beach in Dar es Salaam as part of its nationwide expansion strategy.
The institution has so far completed more than 132 houses for public servants and plans to build another 132 this year, increasing the total number of completed units to over 264.
"Our objective is to expand access to quality and affordable housing for public servants while creating investment opportunities that help Tanzanians improve their financial wellbeing," Solomon said.
He added that WHI plans to extend its housing developments to other parts of the country, including Kigoma, Serengeti, Ukerewe and Mafia, as it seeks to increase the supply of affordable homes beyond major urban centres.
WHI is participating in this year's Sabasaba exhibition to raise public awareness about its investment products, home ownership schemes and other financial services.
