Nipate
Forum => Kenya Discussion => Topic started by: RV Pundit on August 30, 2021, 09:37:47 AM
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31B in 8months...meaning this will dwarf NSSF in two years.
Gov has been paying 100 kshs on pension annually from taxes - because it was unfunded - but now at least maybe 15yrs from now - the public budget can be saved from paying pension - and also the funded pension can become big saving
https://www.businessdailyafrica.com/bd/markets/capital-markets/ncba-stanbic-co-op-bag-sh31-billion-pension-deal-3530798
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Kindly note NCBA is one of the banks having netted this deal. Kenyatta family busy creating the biggest private bank in Kenya.
31B in 8months...meaning this will dwarf NSSF in two years.
Gov has been paying 100 kshs on pension annually from taxes - because it was unfunded - but now at least maybe 15yrs from now - the public budget can be saved from paying pension - and also the funded pension can become big saving
https://www.businessdailyafrica.com/bd/markets/capital-markets/ncba-stanbic-co-op-bag-sh31-billion-pension-deal-3530798
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Itaenda Transcentury way after Uhuru is gone.
Kindly note NCBA is one of the banks having netted this deal. Kenyatta family busy creating the biggest private bank in Kenya.
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CBA was there before Uhuru became president, though as just another private bank. Today it is a major player due to one of its major shareholders being resident at SH. NCBA will be there even after Uhuru leaves SH.
If Ruto is becomes president in 2022 he will be offered a shareholding at the bank. Since Ruto is known to be very hungry and needs loads of cash for the brown envelopes, he will agree. The only question is how much of the bank he will want.
Itaenda Transcentury way after Uhuru is gone.
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31B in 8months...meaning this will dwarf NSSF in two years.
Gov has been paying 100 kshs on pension annually from taxes - because it was unfunded - but now at least maybe 15yrs from now - the public budget can be saved from paying pension - and also the funded pension can become big saving
https://www.businessdailyafrica.com/bd/markets/capital-markets/ncba-stanbic-co-op-bag-sh31-billion-pension-deal-3530798
There are already registered pension management schemes companies e.g zimele which could handle this. Civil servants should be given the option to select which management to handle their pension. Contributors should also be allowed to select type of scheme depending on their age and risk appetite. That way Kenya can unleash capital to invest in new businesses.
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What if they go down with civil servants pension? I know RBA does a job but allowing Cytonn is recipe for disaster. I believe Treasury should keep tight control of Public Sector Pension - because they are paying half the money - so that is public money you cannot just privatize. As long as the RBA rules apply to this Public Sector Pension fund...we could have huge fund to fund even roads, housing and such. South Africa PIC is very huge.
There are already registered pension management schemes companies e.g zimele which could handle this. Civil servants should be given the option to select which management to handle their pension. Contributors should also be allowed to select type of scheme depending on their age and risk appetite. That way Kenya can unleash capital to invest in new businesses.
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What if they go down with civil servants pension? I know RBA does a job but allowing Cytonn is recipe for disaster. I believe Treasury should keep tight control of Public Sector Pension - because they are paying half the money - so that is public money you cannot just privatize. As long as the RBA rules apply to this Public Sector Pension fund...we could have huge fund to fund even roads, housing and such. South Africa PIC is very huge.
There are already registered pension management schemes companies e.g zimele which could handle this. Civil servants should be given the option to select which management to handle their pension. Contributors should also be allowed to select type of scheme depending on their age and risk appetite. That way Kenya can unleash capital to invest in new businesses.
That's an argument for better monitoring by regulatory authority. Given options individuals over time tend to make the right decisions as it concerns their interest. Yes, we need to unleash our savings to spur more investments.
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If NCBA loses its partnership with Safaricom on Mpesa , Mshwari amd Fuliza they are Kaput.
In Kibaki era Equity rose , In Uhurus era NCBA rose. In Rutos era a new bank will arise. These are some of the reasons why Uhuru amd his Mt Kenya oligarchy are worried about.
CBA was there before Uhuru became president, though as just another private bank. Today it is a major player due to one of its major shareholders being resident at SH. NCBA will be there even after Uhuru leaves SH.
If Ruto is becomes president in 2022 he will be offered a shareholding at the bank. Since Ruto is known to be very hungry and needs loads of cash for the brown envelopes, he will agree. The only question is how much of the bank he will want.
Itaenda Transcentury way after Uhuru is gone.