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Zimele targets investment groups with new investment solution

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Investment groups also known as chamas can now track their finances transparently and get attractive investment returns on Zimele ChamaManager.

The platform also allows all members of a chama to access their account statement as well as their individual statements and even get an alert anytime a transaction is initiated from the chama account on the web-based platform.

“As a company, we have always endeavored to not only give our customers access to practical savings solutions at modest entry levels but also provide them with innovative products that are tailored to meet their savings and investment needs. Today marks another great milestone for Zimele where we are excited to enhance our product offering to chamas, which are a powerhouse in economic empowerment for Kenyans,” said Isaac Njuguna, Zimele Asset Management Chief Executive Officer.

Speaking during the launch, Capital Markets Authority Chief Executive Officer Wycliffe Shamiah backed such investment solutions to enhance financial inclusion in the country, amid persisting tough operating macro-economic environment both locally and globally.

“Kenya’s capital markets have remained stable. Zimele’s asset under management has grown tremendously by 220pc from Ksh 895 million in March 2018 to Ksh 2.9 billion as of September 2023. This is proof of Zimele’s remarkable efforts and outstanding growth,” he added.

The asset manager says the new platform  is anchored on the Zimele Savings Plan in the Zimele Unit Trust which is regulated by CMA.