Over the past six years, we have witnessed a remarkable 265% growth in assets under management for Collective Investment Schemes (CIS) in Kenya. The figures have surged from just Sh56.6 billion as of March 2018 to an impressive Sh206.7 billion by September 2023—an unmistakable testament to resilience and growth amidst challenging global and domestic economic conditions.
Given the challenging macro-economic conditions, Kenya’s capital markets maintain their stability, as indicated by a revelation from the Capital Markets Authority. This disclosure particularly applauds the steady expansion in assets, underlining commendable performance even amidst adversity.
Zimele Asset Management unveiled its new asset management platform with emphasis from CEO Wycliffe Shamiah of the Capital Markets Authority on Kenya’s capital markets’ enduring stability. “Kenya’s capital markets,” he noted emphatically, “have remained stable; concurrently, the growth of assets under management for collective investment schemes has been consistent and robust.”
Chairman David Ndii and Capital Markets Authority CEO Wycliffe Shamiah, in their official capacity as representatives of Zimele Asset Management—a firm celebrating its 25th anniversary—have launched the Zimele ChamaManager platform: an innovative tool that revolutionizes Chamas’ operational processes. This marks not only a transformative step but also underscores their significant role in this growth.
More than a mere technological advancement, the Zimele ChamaManager platform presents itself as an innovative solution to Chamas’ persistent issue: lack of transparency and accountability. This platform sets out with a revolutionary goal—to transform Chamas’ financial transactions through the provision of a digital investment platform that enhances transparency.
Isaac Njuguna, Zimele Asset Management’s Joint CEO, underscores that Chamas grapple with a significant issue: the lack of transparent financial transaction records. In acknowledgment of this challenge, the ChamaManager platform vows to provide an effective solution—a tool empowering members not only to track their respective Chama account statements but also to receive alerts for all initiated transactions.
The launch of the ChamaManager platform, beyond merely presenting impressive statistics, underscores Zimele Asset Management’s dedication to innovation and tackling real-world issues. The firm actively embraces digital solutions in a bid to curb fraudulent activities often linked with Chamas, consequently providing an approachable—yet transparent—strategy for financial management.