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How Kenya’s Abojani is revolutionising personal finance through economic empowerment programs

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Abojani Investment Ltd, a Kenyan digital personal finance management company is revolutionising personal finance and investment by offering training and consultancy services to busy professionals and entrepreneurs.

Founded by Robert Ochieng, Abojani Investment Ltd is a financial and investment advisory firm that champions financial conversations. The company prides itself on its ability to connect with retail investors in a relatable manner while relaying financial and investment advisory and content through digital media.

According to 2021 report by EFG Hermes, Kenya still suffers from chronic low savings rates due to financial illiteracy ,the report indicated that Kenya’s savings rate was at 13 percent, which is way below Africa’s average rate of 17 percent.

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Abojani believes that everyone can benefit from independent financial advice and that personal finance should be personalised to meet the needs and learning style of everyone.

According to the company, financial awareness, micro-investing, and saving will help millions of Kenyans achieve financial freedom.

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Since inception, the company says over $500K has been invested by the community members across different asset classes, with over 5,000 total number of users in Abojani Communities and those who have gone through masterclasses.

Besides, the company runs online communities with over 100,000 learners on Facebook, Twitter, WhatsApp, and Instagram.

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Abojani also holds annual Economic Empowerment Conferences aimed to guide and empower their members.

On Saturday, the 25th, the company held its third  annual Economic Empowerment Conference which brought together stakeholders and experts in finance, investment, pension, and wealth.

Themed “Creating Long Lasting Wealth and Living in Your Generation,” the Abojani conference focused on topics such as Saccos, Money Market Funds, the Stock Market, Retirement, and Skills for the Future.

According to  Robert Ochieng’, the CEO and  Founder at Abojani, the goal has always been to empower people and ensure this goal is achieved.

Among  the keynote speakers were Mary Wangari Wamae, Executive Director of Equity Group who shared on Succession Planning and Estate Administration.

Wamae emphasized the need for individuals to plan their estates early, register their beneficiaries, and update them often to avoid being challenged in court in cases where the owner dies without a proper will.

She also encouraged participants to endeavor to live in a challenging environment and be consistent in savings.

Linus Gitahi, Chairman of Tropikal Brands Africa spoke on Building Wealth through Long-term Investments. He said,’ Whatever you are doing now or earning now is what will determine your tomorrow. Sacrifice today has to be moment by moment, week after week, month after month, and year after year.”

He added, that  people who succeed are disciplined about what they want to have. Do it like your life depends on it. Look back 10 years later and say it was worth it.”

Eunice Kinyanjui, Head of Small Businesses at I&M Bank  spoke on managing finances as an SME and an entrepreneur,she  said,’ You need funding to ensure the business continues running. Determine what option your business is ready for. If your business cannot grow profits to pay off debt, reconsider organic growth through offloading equity.’

”Entrepreneurs should ensure they move their businesses from startup/roll out stage to growth stage as banks  finance businesses at growth stage than in startup stage,” She added.

Regarding retirement preparedness which is still low in Kenya, participants were encouraged to start investing at a younger age, those not in an employed–sponsored retirement plan, were advised to take advantage of other avenues apart from pension schemes.

According to  Barack Obatsa, CEO Britam Asset Managers “When seeking a retirement product, consider what percentage of your expected final salary you seek to replace; to determine how much you need to contribute to have minimal or no inconvenience in your retirement.”

Abojan aspires to train 1 Million Kenyans on Financial awareness by 2024

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Milcah Lukhanyu
Milcah Lukhanyu
I cover tech news across Africa. Drop me an email at [email protected]

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