Kenyans urged to invest their idle cash in efforts to beat inflation

Nov 11, 2023 - 17:31

KUZA Assets Management CEO James Mose (center) and other board members during the official launch and strategic direction unveiling at a Nairobi hotel on Thursday November 9, 2023.

Nairobi,

Saturday November 11, 2023

KNA by Sinigi Rhoda/ Juma Nalami

Kenyans have been urged to invest their idle cash in secure and liquid collective funds management companies which will enable them beat the rising inflation by earning a decent return on investment.

KUZA Assets Management company CEO James Mose said that the company saw a market potential whereby there was an alarming amount of idle deposits sitting in commercial banks, yet they can be invested in such a way that they do not break a schedule, but work towards preserving the capital.

Speaking during the KUZA Assets Management launch of its strategic plan, Mose said that as an investment company they have come up with strategies on how to make sure that people’s investments are well taken care of and well managed so as to bring about benefits to the investors in the future.

“The company which is located in Nairobi was founded in 2021 and we offer bespoke investment solutions. The company is licensed by the Capital Market Authority (CMA) and the Retirement Benefits Authority (RBA) as a fund manager,” explained Mose.

He said that currently the company has funds under management totaling to Sh650 million and based on their projections, they see themselves hitting the Sh.1 billion mark before the end of this year.

Mose said that collective investment schemes in Kenya all combined at the end of June 2023 was Sh.176 billion which is not even ten percent of the idle cash sitting in banks.

He continued: “We need to do better to get funds under management reaching at least Sh.1 Trillion.”

Mose said that since about 11 percent of the Kenyan population is Muslim, the company has come up with a Sharia compliant program available for all Muslims and non-Muslims.

He explained that KUZA specializes in offering various investment options that are expertly crafted to address different client profiles, while taking time to understand their key needs such as capital preservation, capital growth and diversification among others.

Courtesy; KNA