Abojani Investment successfully hosted the 5th Abojani Economic Empowerment Conference bringing together influential leaders from Kenya and across the region to address the pillars of sustainable wealth creation, financial empowerment, and long-term economic resilience.
This year’s Economic Empowerment Conference highlighted the urgent need for credible information, pension awareness, and digital transformation as key drivers of financial prosperity.
The event featured keynote contributions from Robert Ochieng, the founder and chief executive officer of Abojani Investment, John Keah, Retirement Benefits Authority (RBA), Dr. Diane Karusisi, CEO of Bank of Kigali who was also the guest speaker, and Raphael Agung’ Group Director, Global Markets at NCBA Group among other speakers..
Speaking at the event, Ochieng emphasized the growing challenge of navigating financial decisions in an age flooded with data.
“In today’s digital era, there is overwhelming information overload. The real need is empowerment, having the right source of information to make informed decisions,” said Ochieng’
He further highlighted the connection between mindset, relationships, and financial outcomes as most businesses thrive courtesy of relationships built over time.
“Financial capital is a result of social capital, which is a result of mental capital. You have to be in the right mindset to make the right financial decisions.”
Ochieng further highlighted the need for investment for wealth sustenance in households through equity.
“The main key thing is on the equity side. If you can own stakes in companies whose products and services you consume, that can be a great thing because it means that as you spend you are also getting wealthier and that is what we want for African households,” he added.
“There can be a challenge on household income but what we start with is information. Once you have the right information then it means that as a household once you get a lump sum or sell a piece of land you are more likely to invest it than when you don’t have information.”
On her part, Dr. Karusisi, emphasized on the importance of financial institutions being enablers of wealth creation for households.
“As banks and companies in the financial sector, our role is to enable the ownership economy and to support people to own assets. As banks we lend to people who want to buy homes, businesses that want to grow their capabilities,” Dr Karusisi said.
“Today in Africa, for you to list in the stock market you need to show sustainable growth in the past probably 5-10 years which is not the case for many businesses in Africa. So I think our regulators need to lower the barriers to entry to the capital markets and it is something we need to consider.”
During the Economic Empowerment Conference, NCBA Bank launched its offshore Investment Solutions. This is a new offering reinforces its long-term commitment to its clients by providing accessible, professionally-managed investments with access to global markets, currency diversification and sophisticated wealth-building opportunities.
“We’re utilizing our global presence, market knowledge and expertise to create a solid offshore investment setup. Our goal is to ensure it meets all regulatory standards in various markets and truly connects with our clients’ needs, helping them invest their capital safely while aiming for reliable returns,” said Kilonzo.
The Economic Empowerment Conference also featured insights from high-level business leaders including Muathi Kilonzo, the Managing Director at NCBA Investment Bank, Anthony Watare, the Head of Development at Centum Re, Steven Omamo, Head of Digital Banking at Absa Bank Kenya, Nicholas Ngumunu, the Portfolio Manager at CIC Asset Management among others.
The speakers addressed the importance of cross-border market growth, regional capital flows, and innovation in financial services in shaping Africa’s economic future.
The Economic Empowerment Conference coincided with the Retirement Benefits Authority’s 25th anniversary, a milestone that was underscored by RBA’s John Keah.
“This year marks the 25th year since the RBA’s establishment, and we are pleased that this event aligns with our anniversary celebrations and in tune with the RBA role in empowering Kenyans on retirement planning,” said Keah.
He further emphasized the role of pensions in wealth creation and the importance of this year’s conference theme as pension is also a form of wealth creation for sunset days.
Keah also provided insights on the current state of pension uptake and the need for broader inclusion and need for amendment.
“Kenya’s pension status reflects progress, but we still have a long way to go in driving wider coverage and participation. Adequacy of pensions is a big issue. Currently the law allows one to access up to 50 percent of their benefits at any given time even if they do not need it upon leaving a pension scheme,” he said.
“What we are doing is to amend the amount they can access and we have a proposal at the moment for people to only access up to 30 percent of their benefits and not 50 percent”.
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