Wealth is not born from big, dramatic moments, but rather it grows from small, disciplined, consistent decisions consumers to wealth builders. That was Victor Waruingi’s message during his keynote speech at the 5th Abojani Economic Empowerment Conference 2025, held at Radisson Blu, on November 22.
Waruingi, the Acting Head of Global Markets Sales at Absa Bank Kenya, urged delegates to rethink how they earn, spend, and invest, reminding them that ownership begins not with large sums of money, but with daily habits and intentional choices.
The theme of this year’s conference was: “The Ownership Economy & Self-Sustenance for African Households and Businesses”.
Also read: Making Home Ownership a reality: A practical guide for first-time buyers
Victor said that ownership is Africa’s next frontier, the shift that will move people from being passive consumers to active creators, investors, and asset-holders. He emphasized that ownership isn’t limited to land or big investments; it begins with the very next financial decision a person makes.
He emphasized that wealth is built through habits, not windfalls.
Victor broke down the journey toward financial ownership into three life stages.
1. In Your 20s: Build the habit before the wealth
For early-career earners, income may feel small or inconsistent. However, this is the best time to build the foundation, so start small and be consistent.
Investing Ksh. 5,000 – Ksh. 10,000 in tools like money market funds begins the discipline of saving. Many institutions, including Absa, offer such funds.
With time and consistency, even small amounts compound significantly. In your 20s, your greatest asset isn’t money – it’s time.
2. In Your 30s: Diversify and grow
As income increases and family responsibilities emerge, the investment strategy must evolve.
Victor encouraged diversification through:
- Bonds with stronger returns
- Unit trusts offering mixed asset exposure
- Equities and shares, which can generate strong capital gains
- Endowment and education policies that combine savings with protection
3. In Your 40s and Beyond: Accelerate and protect
This life stage is about securing what you’ve built.
Strategies include:
- Laddered bond portfolios generating regular income
- High-quality, dividend-paying stocks
- Offshore investment options for higher-risk investors
- Estate planning to protect assets for the next generation
Victor noted that estate planning is often overlooked, yet it is crucial in ensuring the continuity of wealth across generations.
Embracing modern investment opportunities
Victor also highlighted emerging products shaping Kenya’s investment landscape:
- Gold-backed ETFs, which allow investors to tap into global gold markets without holding physical gold
- Tech-focused ETFs, like the Satrix MSCI Index, giving Kenyans access to global companies in AI, tech, education, and healthcare
- The growing field of digital assets
These opportunities reflect Africa’s growing integration into global financial markets and the need for Africans to position themselves early.
Victor said that instead of asking “What should I invest in?”, Victor urged people to ask a better question: “What can I afford to risk?”
Risk tolerance varies by age, income, family obligations, and personality. Aligning risk with personal goals, timelines, and responsibilities ensures smart, intentional investing.
Five Principles to guide every investor
Regardless of age or income level, Victor shared five timeless rules:
- Pay yourself first: invest before you spend.
- Automate your investments: consistency beats willpower.
- Diversify: spread risk across different asset classes.
- Remove emotions from investing: markets move in cycles.
- Review your portfolio annually: life changes, so should your strategy.
