NAIROBI, Kenya, Nov 30 – Absa Bank Kenya has unveiled an offshore investment proposition targeting clients in need of capabilities to manage their financial commitments across multiple countries and regions.
The proposition is in response to the growing pool of High-Net-Worth individuals in Kenya that are actively diversifying their investment portfolio beyond local markets.
Speaking while launching the proposition, Absa Bank’s Interim Managing Director Yusuf Omari said the bank is actively expanding its product portfolio towards becoming a holistic financial services group in line with customers’ evolving financial needs.
“As a fully-fledged financial services group, we are leveraging our global footprint, market intelligence, and expertise to set up a well-structured offshore investment infrastructure that not only meets regulatory standards across different markets but also resonates with the needs of clients looking to invest their capital with minimal risk and assured returns,” said Omari.
The Absa Offshore Investments proposition will be managed via Absa Asset Management Limited (AAML), a fully-fledged subsidiary of Absa Bank, after receiving the green light from the Capital Markets Authority (CMA) to set up locally.
Absa Bank Kenya Head of Premier and Liabilities Simon Gachahi reassured potential investors of a data and insight-driven investment process guided by investment advisors with credible wealth management experience.
Research by Knight Frank Kenya indicates that the number of High Net Worth Individuals in Kenya is set to increase by 27 per cent in the next five years, presenting a significant opportunity for financial institutions to provide private wealth management solutions.
