Everyday News Update

Retirement body in list for top award in Africa – Daily Nation

By JAMES KARIUKI
More by this Author

A Johannesburg-based international investment research and communications group has nominated Kenya’s Retirement Benefits Authority (RBA) for its 2017 top award.

The Ai Capital Market Index Series Awards look at Africa’s best bourses and the role played by individual pension regulatory agencies in promoting investments within their countries.

Judges consider how investments by various entities support the development of Africa’s capital markets, promotion of pension fund investments in Africa as well as stimulating increased pensions fund investments and membership.

Africa investor (Ai) nominated RBA for the African Pension Fund Initiative of the Year award, which will be presented to the authority on September 18 in New York during the Ai CEO Institutional Investment Summit.

RBA’s acting chief executive Nzomo Mutuku said in a statement that Kenya had been recognised for its innovative role in redefining the pensions’ space that enabled schemes to invest in real estate, government bonds and at the Nairobi Securities Exchange.

“The nomination is an affirmation of RBA’s consolidation of its position as an innovator in the pension industry. We are facilitating reforms that have enabled pension schemes to invest in diversified portfolio of capital markets products,” she said.

The pensions industry in Kenya controls nearly Sh1 trillion in member funds, with investments in real estate, equity and State papers.

Currently, RBA is considering the possibility of pooled pension schemes’ investments in government-led infrastructural projects which could unlock local funds for public projects, thereby helping reduce government reliance on donor funds.

RBA is also looking at the possibility of pension schemes coming together to fund the estimated Sh10 billion Nairobi-Nakuru-Mau Summit Super Highway.

Retirement body in list for top award in Africa – Daily Nation

Leave a Reply

Featured Links

    Search Archive

    Search by Date
    Search by Category
    Search with Google

    Photo Gallery

    @2012 Designed By Quick News Update