East African Portland Cement and Consolidated Bank are among four companies axed after the state pension fund reported a loss of KSh19bn in June.
Kenya’s National Social Security Fund will axe at least four companies from its investment portfolio this year in an effort to prevent the fund’s earnings from plummeting further.will be the first companies to be cut from the pension scheme’s portfolio. New CEO and managing trustee David Koross tellsYears of losses
The plan comes after the pension scheme suffered huge losses via the capital markets in the past two financial years. The losses explain the need to find alternative investment avenues for NSSF to grow members’ contributions.from the increase in monthly pension contributions that began in March 2023, has continuously beenGet unlimited access to our exclusive journalism and features today.
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