Kenya's retirement benefits eroded by coronavirus Pension managers in Kenya project depressed growth of retirees’ funds due to the coronavirus pandemic that has negatively impacted the financial markets. About 17.5 per cent of retirees’ money was invested in quoted securities at the Nairobi Securities Exchange as at December 2019. This…
KENYA:July 2019 You will no longer be able to access pension contributions from your employer until retirement. In another flip-flop of the pension regulations, the National Treasury has reversed regulations that had allowed employees to withdraw up to half of pension contributions by their employers before they attained retirement age.…
Britam Asset Managers has injected 1.4 billion shillings into a private equity company dealing with energy assets in Africa; Everstrong Power, in a bid to expands its investment ventures. The funds will be used to purchase a stake in Gulf Energy’s 80MW heavy fuel in Athi River and through the…
In April of 2016, Zanzibar introduced the first government-funded universal pension in East Africa, which has proved to be a role model for the African region and the world at large in its impact and design. Zanzibar is a semi-autonomous archipelago, meaning that Tanzania exerts significant policy influence but the…
Photo Credit: Daniel Hayduk Tanzania opened an elegant new six-lane toll bridge in April across Dar es Salaam’s Kigamboni Creek, thanks in part to a $135 million investment by Tanzania’s National Social Security Fund, the state-run pension fund. The 680-meter bridge is the longest cable bridge in East Africa, and…
By Henry Neondo Everyone in Kenya over the age of 70 will be entitled to a new, guaranteed monthly income after the country’s Cabinet Secretary of Finance, Henry Rotich, announced the launch of a universal pension in January 2018. Kenya follows in the footsteps of Tanzania’s semi-autonomous island Zanzibar, which…
A Radisson Blu hotel in Nairobi, Kenya. African pension funds are beginning to show more interest in investing in hotel real estate, according to Andrew McLachlan, senior vice president of business development for Africa and the Indian Ocean at Carlson Rezidor Hotel Group. McLachlan says the hotel operator – which…
The East African region is witnessing a change in momentum post 2016, where more East Africa based pension funds have begun to put money in local GPs, Eva Warigia, Executive Director of EAVCA, has said. The East African region is witnessing a change in momentum post 2016, where more East…