Enwealth pension fund up 49pc to Sh1.056bn
NAIROBI, Kenya, Sept 29 - The Enwealth Umbrella Pension Fund has reported a 49 percent increase in assets under management, marking one of the strongest Kenya breaking news | Kenya news today |..
✨ Key Highlights
The Enwealth Umbrella Pension Fund significantly increased its assets under management by 49 percent to Sh1.056 billion in 2024, marking a strong performance in Kenya's retirement savings sector.
- The fund's assets grew from Sh724 million in the previous year, driven by improved equity and fixed-income returns.
- Kennedy Mwonyoncho, Director at Enwealth Financial Services, attributed the growth to prudent investment strategies.
- The Retirement Benefits Authority (RBA) reported total pension assets in Kenya are valued at Sh2.25 trillion, with pension coverage at approximately 26% of the working population.
- George Kamau, Portfolio Manager at ICEA Lion Asset Management, projected strong returns for 2025, supported by an anticipated 5.3 percent GDP expansion and appreciation of the Kenyan shilling.
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Shri Krishana Issues Profit Warning While Unga Group and Enwealth Report Growth - September 2025
Packaging material manufacturer Shri Krishana Overseas Limited (SKL) has issued a profit warning, anticipating a drop of more than 25 percent in its 2025 full-year earnings. The company, newly listed on the Nairobi Securities Exchange, saw its half-year net profit for H1 2025 plummet by 70.4% due to surging borrowing costs associated with its Kisaju expansion project. In contrast, Unga Group Plc has returned to profitability, reporting a KSh 222.1 million net profit for the year ended June 30, 2025, after two consecutive years of losses, driven by stronger sales and reduced finance costs. Additionally, the Enwealth Umbrella Pension Fund reported strong performance, increasing its assets under management by 49 percent to Sh1.056 billion in 2024.
