Experts call on Kenyans to grow wealth through equity ownership, not cash savings

Panelists during the 5th Abojani Economic Empowerment Conference in Nairobi/ HANDOUT

Kenyans are being encouraged to grow their wealth by investing in the companies whose products and services they use daily, a strategy financial experts say can help households build long-term financial stability.

Financial Experts who spoke during the fifth Abojani Economic Empowerment Conference in Nairobi, said equity ownership remains one of the most effective but underutilised paths to wealth creation for ordinary citizens.

Abojani Investment CEO Robert Ochieng said many households still miss investment opportunities because they lack reliable financial information, leading them to make short-term or risky decisions.

“The key thing is on the equity side. If you can own stakes in companies whose products and services you consume, that can be a great thing because it means that as you spend, you are also getting wealthier,” Ochieng said.

Ochieng added that many Kenyans continue to make poor financial decisions due to misinformation and limited understanding of investment options.

The conference focused on the rising need for credible financial information, improved pension awareness and the role of digital transformation in shaping household wealth.

“We are living in a period of information overload. What people really need is reliable guidance to make the right financial choices,” he said, adding that mindset and social networks often influence wealth outcomes.

The meeting coincided with the Retirement Benefits Authority’s 25th anniversary. RBA’s John Keah said pension uptake in Kenya remains low despite progress in sector reforms.

“Adequacy of pensions is a big issue,” Keah said, noting that the regulator is proposing amendments to limit early access to benefits. “We want people to only access up to 30 percent of their savings rather than the current 50 percent.”

He said reducing early withdrawals would help preserve retirement savings and improve long-term financial security.

Bank of Kigali CEO Diane Karusisi said expanding asset ownership should be a key priority for financial institutions, while also calling for lower barriers to entry for companies seeking to list on African stock markets.

NCBA Investment Bank Managing Director Muathi Kilonzo announced the launch of the bank’s offshore investment solutions, saying the offering would give Kenyan investors access to global markets and diversified wealth-building options.

Other speakers, including representatives from Centum Re, Absa Bank Kenya and CIC Asset Management, discussed capital flows, digital banking and the opportunities for cross-border investment in East Africa.

The Abojani Economic Empowerment Conference, now in its fifth year, continues to serve as a forum for educating Kenyans on practical approaches to savings, investment, and long-term economic stability.