Safaricom pension plan in line for award

Safaricom

Safaricom

MARIA MACHARIA 
NAIROBI, (CAJ News) – AFRICA Investor (AI), a leading international investment and communications group, has nominated the Safaricom Staff Pension Scheme for the ninth edition of the AI Infrastructure Investment Awards 2016.

The company is one of over 100 companies in Africa that have been shortlisted for the awards, which are set to take place on May 10 in Johannesburg, South Africa.

The awards formally recognize achievements across the main infrastructure sectors in Africa, and reward the institutions and personalities driving transactions and improving the continent’s infrastructure investment climate.

Safaricom has been nominated in the category of Africa Investor Pension Fund Infrastructure Investment Initiative of the Year, along with ten other pension funds across Africa and only two others in Kenya.

“This is a great honour for us, and a validation of the work we’ve put into ensuring proper governance of the pension scheme as well as strategic investment on behalf of our members. We are proud to have grabbed the attention of a globally recognized and respected institution,” said Safaricom Staff Pension Scheme Chairman, Joe Ogutu.

The Safaricom Staff Pension Scheme, whose current value stands at Kshs7 billion (US$69 million), has a total of 5 234 members as at December 2015.

In an effort to diversify its investments the scheme has invested in various projects most recently Crystal Rivers, a Kshs 3,4 billion mix use real estate development in Machakos County.

It also owns a 41 percent stake in luxury holiday resort Mandharini,located at an exclusive private creek in Kilifi County.

CAJ News

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