Dar es Salaam. iTrust Finance Limited has consolidated its standing as a key player in Tanzania’s financial sector following impressive performance for its five mutual funds.
A statement released by iTrust Finance’s Head of Marketing, Brand & Communications, Winfrida Makuru, said iTrust Finance held its inaugural iFunds Investor Call on May 15, 2025 where the private equity firm’s executives outlines the iTrust Funds’ milestones and future outlook.
During the presentation, iTrust Finance chief executive officer, Faiz Arab, said the firm is a Tier 2 financial services provider regulated by the Bank of Tanzania and the Capital Markets and Securities Authority (CMSA).
“It is a Dar es Salaam Stock Exchange (DSE)-licenced stockbroker, a fund manager, a transaction advisory that assist clients in raising finance via debt both private and public issuances or via equity options (rights issue among others,” Mr Arab noted.
“We also do banking activities in terms of lending only. The Bank of Tanzania regulates us on that. We also offer offer shariah-compliant lending and products, particularly sukuk bonds,” Mr Arab noted.
Five iFunds
The private equity firm was the only fund manager in Tanzania to launch five funds all at once, and they all managed to get more subscriptions than they offered.
The initial public offering period ran from November 4, 2024 to December 2, 2024. The launch date was December 3, 2024.
The funds are iGrowth Fund, Imaan Fund, iCash Fund, iSave Fund and iIncome Fund.
In just five months, the funds have posted strong returns and attracted substantial investor interest.
The Imaan Fund, a Shariah-compliant investment product, led the group with a return of 22.51 percent and assets under management valued at Sh7.21 billion.
The iGrowth Fund followed with a return of 13.60 percent and AUM totalling Sh28.16 billion.
“The iIncome Fund, which will begin issuing monthly income payouts from August 2025, posted a return of 5.67 percent and managed assets worth Sh12.47 billion,” Mr Arab said.
The iSave Fund delivered a 5.17 percent return with Sh8.82 billion in assets, while the iCash Fund recorded a 4.99 percent return, overseeing assets worth Sh23.97 billion.
iTrust Finance’s growing appeal is also attributed to its emphasis on transparency, security, and investor accessibility.
“The firm assures secure custody of assets through NBC Bank, a Tier 1 financial institution,” the statement that was released by Ms Makuru reads in part.
iTrust Finance processes redemptions within three business days, updates net asset values (NAVs) daily on its website to promote transparency, and allows investors to enter most of its funds with as little as Sh100,000.
Founded in 2013 and rebranded in 2023, iTrust Finance has positioned itself as a diversified financial services provider.
Major milestones
Following its rebrand in 2023 from the Imaan Micro Finance Limited, iTrust intensified its focus on capital mobilisation through Islamic instruments.
Within that year alone, the firm successfully structured and closed eight Sukuk issuances, collectively raising Sh47.86 billion at a subscription rate of 158 percent.
In addition to Islamic finance, iTrust played an instrumental role in high-profile capital raising initiatives.
Among these was DCB Commercial Bank’s rights issue worth Sh10.74 billion and Afriprise Investments PLC’s Sh10.59 billion. Both issuances were fully subscribed, signalling sustained investor confidence.
Moreover, the firm has been active in regional investor engagements, having recently participated in the London Stock Exchange (LSE) Roadshow and facilitated Tanzania’s first Safaricom Investor Roadshow, marking a significant milestone in cross-border capital dialogue.
In a separate capital markets initiative, iTrust participated in the landmark Samia Infrastructure Bond transaction, which raised Sh323 billion for national infrastructure development.
