The financial week was defined by a monumental event: the landmark pension settlement from Standard Chartered. This KES 7 billion settlement isn’t just a win for the appellants; it’s a powerful statement on financial litigation and a new benchmark for corporate accountability in Kenya. As this story unfolded, we saw other significant movements, from a surge in investor demand for Treasury Bills to strategic, inclusive innovations by banks like Absa and NCBA. Here’s a concise look at the highlights that are shaping the market right now.
Here are the highlights of the week:
Treasury Bills Oversubscribed
CBK offered KSh 24 billion in treasury bills and received KSh 38.8 billion in bids. Ultimately, KSh 28.9 billion was accepted, showing continued strong investor appetite.
Standard Chartered Pension Payout
Following a ruling by the Retirement Benefits Appeals Tribunal, Standard Chartered has begun a verification exercise for 629 pension appellants to facilitate a KSh 7 billion payout.
Strengthening Africa’s VC Ecosystem
Over 40 of Africa’s top venture capital fund managers officially joined the Africa Venture Finance Programme. Organized by the European Investment Bank’s EIB Global and supported by AfricaGrow, the programme is designed to boost Africa’s VC ecosystem and accelerate tech-driven growth.
NCBA x Water.org: Supporting Schools
NCBA, in partnership with Water.org, has empowered 100 private school owners in Naivasha with tools on green financing, asset finance, digital cash management, and bancassurance. The initiative reinforces NCBA’s commitment to innovation and sustainability in Kenya’s education sector.
Still on NCBA, the lender unveiled new PSV Asset Finance solutions.
> SACCOs: Up to 90% financing, repayment terms up to 60 months.
> Individual SACCO members: Up to 80% financing, repayment terms up to 48 months.
Alongside this, NCBA also introduced Komiut, a digital fare collection platform that could be a game-changer for PSV operations.
CBK Achieves Global Certification
The Central Bank of Kenya attained ISO/IEC 20000-1:2018 certification for its Information Technology Service Management (ITSM).
Absa Kenya Launches Sultanah
Absa Bank Kenya introduced Sultanah; the first women-only Sharia’h-compliant proposition in the country, setting a new milestone in inclusive banking.
Corporate Actions on the NSE
Key dividend book closure dates this week:
- EABL – Sept 16
- NCBA Group – Sept 18
- Absa Bank Kenya – Sept 19
- BOC Gases – Sept 20
5th Abojani Economic Empowerment Conference
We’re thrilled to have secured an anchor sponsor for this year’s conference. Expect insightful sessions, valuable learning opportunities, and networking that will reshape your financial and business journey.
October Masterclass
Our 72nd Masterclass on Personal Finance & Investing (6th–24th Oct, 7:00–8:00 pm EAT) is now open for registration. Topics include personal finance, unit trusts, treasury bills & bonds, and the stock market.
Book before 30th September and enjoy a 10% discount!
#Pension Settlement
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.
