Davis Ongiro
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"Pension schemes are uniquely positioned to help unlock capital for economic growth." — Davis Ongiro
Kenya’s pension industry is one of the country’s largest pools of long-term capital. A relatively small share is currently allocated to private equity, venture capital, and other alternative assets. This series brings together leaders directly involved in the stewardship, allocation, and deployment of pension capital. Through their perspectives, it examines how investment decisions are made, what considerations shape allocation to alternative assets, and how the market is evolving. Together, the conversations offer a focused view of the factors influencing pension capital deployment in Kenya.
As of December 2025, Kenya's retirement benefits industry managed KES 2.81 trillion in pension assets, representing 24.57% annual growth. Yet only KES 29.93 billion, approximately 1.07% of total assets under management, was allocated to private equity. If that allocation were to increase to 5%, it would represent approximately KES 140 billion (around USD 1.1 billion) available for productive long-term investment across the economy.
Behind every allocation is the responsibility of safeguarding retirement savings. Kenya's pension system now serves 7.53 million members, covering approximately 26.5% of the country's working-age population.
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