Local pension fund administrator Enwealth Financial Services Limited plans to expand its financial services business across Africa and into the US and UK markets.
The pension firm, which was, until last week, known as Liberty Pension, already serves more than 100 corporate customers in Kenya, managing a fund valued at over Sh40 billion.
It plans to tap into the new markets with new products such as diaspora and expatriate pension plans.
“Expatriates who work in Kenya and move back to their countries, especially in consulates, will enjoy their pension by becoming members of the fund,” said Enwealth managing director Simon Wafubwa on phone, “We will target the US, UK, and Africa.”
Mr Wafubwa added that it will operate in foreign countries through agreements that fit into the social security regulations of the chosen countries.
“In Tanzania for instance, we have had inroads and have been working with social security regulatory authorities.”