GenAfrica marks 30 years as assets under management grow to over Ksh.776B

GenAfrica Asset Managers is celebrating 30 years in business, marking a milestone that has seen the investment firm grow from managing a single offshore fund worth USD 100 million (Ksh.12.9 billion) to overseeing assets exceeding USD 6 billion (Ksh.776 billion) across pension and non-pension portfolios.

The company marked the anniversary during its 9th Annual Investment Conference held in Diani, Kwale County, under the theme "Bridging Tradition and Innovation: Broadening Horizons through Alternatives and Infrastructure Investments."

The conference focused on the evolving investment landscape and the growing role of innovation and alternative assets in wealth creation.

According to GenAfrica, the firm currently serves more than 110 clients across the region, including pension funds, institutional investors, corporates, SACCOs, schools, religious institutions and individual investors.

The company said its growth mirrors the transformation of Africa's financial markets, which have experienced deeper capital markets, stronger pension industries and increased investor sophistication over the past three decades.

Speaking during the event, Chairperson of the President's Council of Economic Advisors Dr. David Ndii commended the firm's contribution to wealth creation and investment management in Kenya.

“30 years is a very important journey because GenAfrica is one of the pioneers. The industry was new, it has evolved over the years, but the fact that GenAfrica is now who they are with assets under management of up to Ksh.800 billion, that’s a very significant achievement and not just for the company but for us as a country,” said Ndii.

GenAfrica Managing Director Patrick Kariuki said the anniversary reflects both the trust clients have placed in the company and its ability to adapt to changing market conditions.

“This is a reflection of the trust our clients have placed in us and our ability to evolve with changing markets while remaining true to our purpose. We are proud of the institution we have built and the impact we have had in helping clients achieve their financial goals,” said Kariuki.

The company highlighted several investment products that have contributed to its growth, including the Batian Property Fund, the Milele Income Drawdown Fund, the Kivuli Umbrella Fund and the GenAfrica Money Market Fund.

The latter, launched in December 2022, has recorded significant growth amid rising demand for professionally managed retail investment products.

Kariuki noted that investor needs continue to evolve, adding that the firm's focus remains on developing solutions that enable more people to participate in wealth creation and secure their financial futures.

As it enters its fourth decade, GenAfrica said it will focus on strengthening its market position, expanding its presence across Africa and identifying new investment opportunities that support long-term value creation for clients.