On Bancassurance & Insurance
1. KCB Bank Group‘s Bancassurance Intermediary recorded the highest core insurance revenue of Ksh 726 million in the first six months of 2024. Its profits before taxes grew by 29.2% from Ksh 433 million in June 2023 to Ksh 560 million in June 2024.
2. Absa Bank Kenya‘s bancassurance unit was the most profitable with Ksh 733 million in pretax profits.
3. Co-operative Bank of Kenya‘s bancassurance unit pretax profits grew by 15% to Ksh 682.7 million
4. NCBA Group‘s bancassurance subsidiary profit before taxes grew by +51% to Ksh 206 million. The fastest growth in 1H2024 among its listed companies’ peers.
5. Stanbic Bank Kenya‘s bancassurance unit recorded a 20% growth in profits after taxes to Ksh 64 million
6. NCBA Group completed the acquisition of AIG Kenya Insurance.
7. Equity Bank Limited‘s Equity Life Assurance Kenya (ELAK) pretax profits grew by 140% to Ksh 740 million
On Asset Management
1. Standard Chartered Bank Kenya’s Standard Chartered Investment services was the most profitable with pretax profits of Ksh 652 million (+29%). Its assets under management stood at Ksh 196 billion (+10X growth from 2016).
2. NCBA Group collective investment schemes asset under management stood at Ksh 33.2 billion as of June 2024, the highest among the Nairobi Securities Exchange PLC listed banking groups.
3. Stanbic Bank Kenya recently launched its asset management unit with units trust funds in Kenya Shillings and USD. We will be monitoring the developments keenly.
4. Absa Bank Kenya‘s asset management unit has seen its assets under management grow by 11X to Ksh 11 billion between June 2022 and June 2024. Profits stood at Ksh 109 million in June 2024(+35%)
5. KCB Bank Group‘s asset management unit recorded Ksh 55 million in pre-tax profits. Co-operative Bank of Kenya‘ s fund management subsidiary saw its pretax profits surged by 34% to Ksh 143 million
CEO & Co-Founder, Abojani Investment
Robert Ochieng is a visionary entrepreneur and the co-founder of Abojani Investment, a leading financial education platform in Kenya that has empowered over 20,000 Africans to embark on their investment journeys. As CEO, he has demonstrated an unwavering commitment to financial literacy, successfully demystifying money and investments and making them accessible and relevant to individuals from all walks of life.
Running Thriving Investment Communities
Robert’s influence extends well beyond Abojani Investment’s core offerings. He has actively fostered a sense of community by running investment forums and groups with a vast following of over 300,000 Africans. These communities provide a safe space for individuals to exchange ideas, share experiences, and support each other on their investment journeys.
Vision for the Future
As co-founder of Abojani Investment, Robert envisions a financially empowered Africa. He strives to expand the reach of his financial education initiatives, enabling millions more to gain the knowledge and confidence needed to achieve their financial goals. His vision is to create a society where every individual has the tools and understanding to build lasting wealth and prosperity.
Professional Background
Robert Ochieng is a highly accomplished CEO at the helm of Abojani Investment, an investment and advisory firm in Kenya. He is a seasoned professional with over 14 years of experience in IT, Finance, and leadership.
His career includes key roles at prominent institutions such as Equity Bank, Gulf African Bank, Guaranty Trust Bank (GTBank) and Airtel.
Robert’s expertise has also been sought after by the National Treasury for consultancy on planning and budgeting systems, showcasing his exceptional knowledge and skills in the field. Passionate about driving meaningful conversations and collaborations between academia, industry, and the public sector, Robert actively engages in research projects focusing on digital transformation within the financial services sector. With his visionary leadership and strategic insights, Robert Ochieng continues to make a significant impact in the business world.
