By Cece Siago
GenAfrica Asset Managers is expanding beyond its traditional institutional client base to tap into the retail investment market as Kenya’s workforce increasingly shifts from formal employment to small and medium-sized enterprises (SMEs).
The firm marked its 30th anniversary during its Ninth Annual Investment Conference held in Diani, Kwale County, under the theme “Bridging Tradition and Innovation: Broadening Horizons Through Alternatives and Infrastructure Investments.”
The move into the retail market will see the company offer investment products directly to individual investors, SMEs, SACCOs, schools, and other community-based organizations.
Speaking during an interview, GenAfrica Asset Managers Managing Director Patrick Kariuki said investor needs are continually evolving, prompting the company to innovate and develop new financial solutions.
“The number of salaried and formal payroll employees has declined significantly, while Kenya has become a largely SME-driven economy. We therefore have to provide people with opportunities to save for retirement and meet their investment needs,” he said.
GenAfrica Asset Managers Managing Director Patrick Kariuki speaking during an interview. Photo by CeCe Siago
Kariuki noted that the company remains committed to offering a diverse range of products tailored to clients’ investment goals while accelerating its expansion across Africa.
“While our promise has remained the same for 30 years, the needs of investors continue to evolve. Our responsibility is to keep innovating and developing solutions that enable more people to participate in wealth creation and secure their financial futures,” he added.
Unlike institutional investors, who collectively invest billions of shillings, retail investors typically commit smaller amounts. However, they represent a rapidly growing market segment as more Kenyans embrace self-employment and entrepreneurship.
Chairperson of the President’s Council of Economic Advisors, Dr. David Ndii, who delivered the keynote address at the conference, praised GenAfrica’s contribution to wealth creation, investment management, and economic development over the past three decades.
“Thirty years is a significant milestone. GenAfrica was among the pioneers in an industry that was still new at the time. The sector has evolved considerably, and the fact that GenAfrica now manages assets worth about KSh 800 billion is a remarkable achievement, not only for the company but also for the country,” said Dr. Ndii.
Chairperson of the President’s Council of Economic Advisors Dr David Ndii gives a keynote speech at GenAfrica Annual Investment Conference in Diani. Photo by Cece Siago
GenAfrica Asset Managers Board Chairman Andrew Mukite Musangi said the firm’s assets under management have grown to KSh 870 billion, highlighting its role in creating long-term value for clients over the years.
He noted that the pension sector remains a key growth area, driven by Africa’s youthful and expanding workforce.
“The pension funds sector will continue to grow because Africa has a large young working population. Encouraging pension savings is central to our growth strategy, and we will continue innovating to respond to changing global realities,” he said.
GenAfrica’s investment portfolio includes the Batian Property Fund, the Milele Income Drawdown Fund, the Kivuli Umbrella Fund, and the GenAfrica Money Market Fund, which was launched in 2022 to meet growing demand from individuals and SMEs seeking accessible and professionally managed investment solutions.
The company plans to deepen its presence across Africa while exploring new opportunities in alternative investments and infrastructure development.
