Sanlam Targets SMEs, Informal Sector with Akiba Plus Platform
Sanlam Kenya launched Akiba Plus, a digital pension platform targeting individuals and SMEs to boost retirement savings and financial inclusion...
✨ 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.
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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.
