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HomeDaily NewsTuesday, October 7, 2025Kenyan Financial Firms Launch Initiatives and Face Government Scrutiny - October 2025
Technology & Innovation3 stories from 1 sources

Kenyan Financial Firms Launch Initiatives and Face Government Scrutiny - October 2025

Several developments are occurring in Kenya's financial sector. The Kenyan government has launched a formal inquiry into the financial affairs and management of Qona Sacco, formerly Safaricom Sacco, following member pressure over financial concerns. The probe, authorized by a gazette notice on September 29, 2025, will investigate the Sacco's by-laws and financial conditions. Meanwhile, KCB Group is prioritizing sustainable development by screening KES 578.3 billion in loans for environmental and social risks in 2024. Sanlam Kenya has also launched Sanlam Akiba Plus, a digital pension platform aimed at addressing Kenya's retirement savings crisis by targeting SMEs and the informal sector.

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Tuesday 1:45 PMTechish Kenya

Sanlam Targets SMEs, Informal Sector with Akiba Plus Platform

Sanlam Targets SMEs, Informal Sector with Akiba Plus Platform

Sanlam Kenya has launched Sanlam Akiba Plus, a comprehensive digital pension platform aimed at addressing Kenya’s critical retirement savings crisis, particularly targeting SMEs and the informal sector.

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Key Highlights

Sanlam Kenya has launched Sanlam Akiba Plus, a comprehensive digital pension platform aimed at addressing Kenya’s critical retirement savings crisis, particularly targeting SMEs and the informal sector.

  • Only 26% of Kenya's workforce saves for retirement, leaving millions financially vulnerable, with 7 out of 10 Kenyans struggling financially after retirement.
  • The platform offers four specialized pension products: Akiba Plus Personal Pension Plan (IPP), Akiba Plus Post-Retirement Medical Fund (PRMF), Akiba Plus Employer Umbrella Plan (UPP), and an NSSF Tier II Compliant Pension Plan.
  • All contributions feature capital protection guarantees and a minimum 5% return, managed under the Retirement Benefits Act.
Monday 7:44 PMTechish KenyaFirst

Qona Sacco Faces Government Inquiry After Member Uprising

Qona Sacco Faces Government Inquiry After Member Uprising

The Kenyan government has launched a formal inquiry into the financial affairs and management of Qona Sacco, formerly Safaricom Sacco, following member pressure over financial concerns. The probe, authorized by a gazette notice on September 29, 2025, will investigate the Sacco's by-laws, financial conditions, and the conduct of its management.

Read Story

Key Highlights

The Kenyan government has launched a formal inquiry into the financial affairs and management of Qona Sacco, formerly Safaricom Sacco, following member pressure over financial concerns. The probe, authorized by a gazette notice on September 29, 2025, will investigate the Sacco's by-laws, financial conditions, and the conduct of its management.

  • Qona Sacco, with over KES 12 billion in assets, acknowledged a KES 26 million loss provision related to its financial exposure to the struggling Kenya Union of Savings and Credit Co-operatives (KUSCCO).
  • The inquiry is led by Assistant Director of Co-operative Audit Silars Okoth Dede, appointed by Commissioner for Co-operative Development David K. Obonyo.
  • The formal investigation was triggered by a member vote at a Special General Meeting (SGM) on May 31, 2025, following issues raised at the AGM on March 1, 2025.
Tuesday 1:57 PMTechish Kenya

KCB Group Doubles Down on Green Finance with $578 Billion Loan Screening Program

KCB Group Doubles Down on Green Finance with $578 Billion Loan Screening Program

KCB Group, East Africa's largest commercial bank, is significantly reorienting its operations to prioritize climate action and sustainable development, screening an astounding KES 578.3 billion in loans for environmental and social risks in 2024. This strategic shift includes embedding environmental and social governance into its core operations and risk management frameworks.

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Key Highlights

KCB Group, East Africa's largest commercial bank, is significantly reorienting its operations to prioritize climate action and sustainable development, screening an astounding KES 578.3 billion in loans for environmental and social risks in 2024. This strategic shift includes embedding environmental and social governance into its core operations and risk management frameworks.

  • KCB Group disbursed KES 53.2 billion in green loans last year, increasing its green-tagged lending from 15% in 2023 to 21.32%.
  • The bank aims to reach 25% green-tagged lending by 2025, channeling funds into renewable energy, e-mobility, and the blue economy.
  • KCB has designated climate-related risk as a principal risk, and Deloitte is independently auditing its forward-looking approach, a first for a Kenyan financial institution.
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