SBM Bank Kenya has launched the Busara Banking App, a new digital platform designed to teach children about saving, spending, and financial responsibility.

• The app allows parents to link chores to rewards, teaching children to earn and manage money in a supervised environment.
• Key figures include CEO Bhartesh Shah and Senior Vice President Shehryar Ali, who highlighted the role of technology in building financial confidence.
• Features include a prepaid multi-currency card powered by Mastercard and integration with SBM’s Mfukoni App for parental oversight.

Ndovu Wealth Limited has launched the Kibaba Multi-Asset Special Fund, a new investment vehicle providing Kenyans with diversified global exposure. The fund aims to meet the increasing demand for offshore investment opportunities among local investors.

• Minimum investment is set at Sh250,000 for the local currency option and $2,500 for the USD option.
• Key organizations involved include Ndovu Wealth Limited, the Capital Markets Authority, DTB Kenya Limited (custodian), and Kingsland Court (trustee).
• The fund invests across various global asset classes like equities, fixed income, REITs, ETFs, and commodities, with portfolio allocations adaptable to market trends.

While Kenya boasts high financial inclusion, young Kenyans struggle with wealth creation due to a lack of financial discipline, not access. The focus has shifted from knowing about financial products to adopting consistent saving and investing habits.

• Over 80% of Kenya's adult population is financially included, yet about one-third of youth aged 18-25 remain excluded, particularly rural youth.
• The article highlights findings from the 2024 FinAccess Household Survey, a collaboration between the Central Bank of Kenya (CBK), Kenya National Bureau of Statistics (KNBS), and Financial Sector Deepening (FSD) Kenya.
• Young Kenyans often use mobile money for savings, promoting liquidity over accumulation, and informal savings groups (chamas) lack formal structures for long-term growth.