UTT AMIS Increases Investors to Over 500,000, Commends Government for Creating a Conducive Investment Environment





Dar es Salaam —


 The Chief Executive Officer of UTT Asset Management and Investor Services (UTT AMIS), Simon Migangala, has said that the year has been a successful one for the institution following an increase in the number of investors to more than 500,000, a milestone that reflects growth and rising confidence among Tanzanians in collective investment schemes.

Migangala made the remarks during the UTT AMIS Annual General Meeting, where he also commended the Government and relevant authorities for continuing to create a supportive and enabling investment environment, which has significantly contributed to the growth of the financial sector and capital markets in the country.

He noted that despite the achievements recorded, the institution acknowledges that it has not yet reached many Tanzanians, particularly those living in rural areas and abroad, prompting UTT AMIS to strengthen its service expansion strategies.

According to Migangala, UTT AMIS has successfully attracted more than 150,000 new investors, a result of expanding its offices across various regions and adopting modern technology in service delivery.

He explained that these efforts are aimed at ensuring investors can easily access services wherever they are, including Tanzanians living abroad.

“At present, we are focusing more on the use of technology and institutional growth to reach a larger number of investors, including integrating our systems with all major banks in Tanzania,” Migangala said.

He added that collective investment schemes play a significant role in the national economy by channeling citizens’ funds into the formal financial system, a move that stimulates economic growth and enhances transparency in the circulation of money.

Migangala emphasized that UTT AMIS will continue to work closely with the Government and other stakeholders to further develop the investment sector and cultivate an investment culture among citizens for present and future development.

On his part, the Chairman of the Board of Directors of UTT AMIS, Professor Faustin Rweshabura Kamuzora, said that investment institutions in the financial sector play a crucial role in fostering national economic growth, noting that UTT AMIS continues to strengthen itself to enhance investment value for Tanzanians.

He further stated that UTT AMIS currently manages seven investment funds and has plans to improve the performance and returns of these funds with the aim of maximizing benefits for its investors.

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