Draft:Fred Msemwa

Fred Msemwa (born 14th June 1972) is a Chief Executive Officer of Watumishi Housing Investment (WHI), a state-owned real estate and fund management firm based in Dar es salaam, Tanzania. He is an auditor, business person, and author of the Swahili book Usimamizi wa Biashara na Fedha (Business and Finance Management). He is known for his contribution in advancing access to affordable housing, board governance and leadership, youth empowerment and advocating for small business development in Tanzania.

Early Life and Education
Msemwa was born and raised in Mbeya in the southern part of the United Republic of Tanzania. He attended primary school at Idweli Primary and Mbeye One Primary schools. He then joined Iyunga Secondary School for ordinary level studies and at Kibaha Special High School for A levels. Thereafter he joined and graduated in Accountancy at the Institute of Finance Management (IFM) in Dar Es Salaam Tanzania. In 1998 Msemwa qualified as a Certified Public Accountant (CPA) and then in 2022, he graduated with MBA in Finance with Distinction at Birmingham City University, United Kingdom. He holds PhD in Business Administration from the Open University of Tanzania and is a Certified Director of the Board by the Institute of Directors of Tanzania.

Career
Msemwa is the Chief Executive Officer of Watumishi Housing Investments (WHI), an investment company based in Tanzania responsible for real estate development and fund management. He started his career as an accountant at the PUMA (then BP Tanzania) and then joined National Housing Corporation (NHC); a state-run real estate management firm. At NHC he co-led a team for transforming NHC to full adoption of International Financial Reporting Standards. At the age of 32 years he was appointed Deputy Principal and Acting Principal for National College of Tourism in Tanzania. It is during this time that the college launched the first Diploma program in Travel and Tourism and introduced entrepreneurship courses for tourism students hence empowering them to start and run their businesses upon graduation. Msemwa was later appointed Director of Audit and became a member of the first management team for operationalization of the Energy and Water Utilities Regulatory Authority (EWURA) based in Tanzania. He successfully set up and provided leadership to the Internal Audit Division at EWURA hence being part of a successful Team which built EWURA to become a respected water and utilities regulator in Africa. At WHI, Msema has been involved in starting and setting up the first real estate investment trust (REIT) in East Africa. WHI has operationalized a replicable system for building and giving access to affordable homes to public servants and employees in the private sector in the United Republic of Tanzania delivering more than 1,000 affordable housing units in early years. In 2023, WHI launched FAIDA Fund which received an overwhelming response from investors registering a record oversubscription of 173%. FAIDA Fund has been named as one of the most inclusive digital collective investment scheme in East Africa allowing small investors including peasants, hawkers, students, employees etc with as low starting capital as 4USD, to open an investment account and continue investing on an incremental basis with amount as low as 1.5USD using their mobile phones without having to undergo any paperwork. The fund attracted more than 15,000 investors with a fund size now crossing 8 Mil USD in a course of one year.

Board Leadership
Msemwa once served as a Chairman of Tanzania Association of Accontants[TAA] also known for his contribution in diverse boards which he continues to serve. He serves in the Board of CRDB Group; the largest banking group in Tanzania. He chairs the Board of CRDB DR Congo, a newly established banking subsidiary in the Democratic Republic of Congo. He previously served in the National Board of Accountants and Auditors (NBAA) of Tanzania and the then TIB Corporate Bank. Other Board he serves include the boards of Dar es salaam Water and Sanitation Authority (DAWASA), Business Registration and Licensing Agency (BRELA), Southern Agriculture Corridors of Tanzania (SAGCOT) and Agape Schools Board.

Awards and Recognition
Msemwa’s contributions spanning from his career and devotion to small business and youth empowerment has been recognised by the community. He is a recipient of the Tanzania Association of Accountants (TAA) AWARD for Promoting Growth of Small Businesses ( the KUZA Biashara Campaign) and he is also a recipient of the MAYODA Award for outstanding contribution in youth mentorship. Fred is also a recipient of the Government Parastatals CEO of the Year Award 2022 from the Africa Company of the Year Awards.