Market News

Schemes want new investment vehicles

Sundeep Raichura
Zamara Group chief executive officer Sundeep Raichura. FILE PHOTO | NMG 

Pension scheme administrators want fresh products in the capital markets to facilitate release of Sh1.2 trillion for public infrastructure developments.

Zamara Group chief executive officer Sundeep Raichura said the pensions sector was agreeable to investing funds in public projects that benefit Kenyans once the correct incentives and regulatory interventions are available.

“The pensions industry has witnessed phenomenal growth in the last 15 years where pension assets increased from Sh80 billion to Sh1.2 trillion. This growth has had a positive impact on our national savings rate contributing to our socio-economic development as a country,” Mr Raichura said.

Speaking in Kisumu, he said infrastructure bonds and private venture financing were among avenues favoured by pension schemes. Kisumu Trade Co-operative and Marketing executive Richard Ogendo said the county was partnering with a number of pension schemes to put up affordable housing units.