Listed non-banking financial services firm Sanlam Kenya Plc (NSE: SLAM) has launched Sanlam Akiba Plus, a fully digital pension solution designed to expand access to retirement savings and life insurance products across Kenya.
The new mobile-first platform allows users to self-onboard, manage savings, and access multiple pension options online—marking a significant milestone in Sanlam’s digital transformation journey.
Driving Digital Growth in Life Insurance and Pensions
The launch comes on the back of strong growth in Kenya’s life insurance sector.
According to the Insurance Regulatory Authority (IRA), the long-term insurance business posted KES 110.39 billion in gross written premiums in the second quarter of 2025, a 17.7% increase compared to the same period in 2024.
The IRA attributes this rise to ongoing digital transformation and regulatory reforms across the industry.
Speaking during the launch, Sanlam Life CEO Jacqueline Karasha said the Akiba Plus product demonstrates the firm’s commitment to innovation in the insurance technology (InsurTech) space.
“Our goal with Akiba Plus is to close the pension gap in Kenya by offering a simple, credible, and future-ready solution that works for everyone,” Ms. Karasha said.
“This is about helping Kenyans save consistently and retire with dignity.”
Empowering Financial Inclusion
Sanlam Life, a member of the Sanlam Kenya Group, is positioning Akiba Plus as part of its broader strategy to promote financial inclusion and encourage national savings through accessible, digital-first pension products.
Sanlam Kenya Group CEO Dr. Patrick Tumbo, EBS, said the initiative reflects the company’s wider digital investment strategy:
“With Sanlam Akiba Plus, our clients will now enjoy convenient access to a platform that allows them to take charge of their savings, increase their wealth, and grow their retirement savings,” he said.
Four Pension Solutions Under One Digital Roof
To meet the varied financial needs of individuals, businesses, and groups, Akiba Plus integrates four innovative retirement products:
- Akiba Plus Personal Pension Plan (IPP):
A flexible, tax-efficient savings plan for individuals, allowing personalized contributions, real-time investment tracking, and tax relief benefits. - Akiba Plus Post-Retirement Medical Fund (PRMF):
A dedicated fund to help savers prepare for healthcare costs after retirement—offering a structured, tax-efficient solution as medical expenses rise. - Akiba Plus Employer Umbrella Pension Plan (UPP):
A comprehensive workplace pension solution for employers, offering payroll integration, automated compliance, and staff retention benefits. - NSSF Tier II Compliant Pension Plan:
A digital alternative that enables employers to channel mandatory Tier II contributions into Akiba Plus for potentially higher returns and enhanced transparency.
Guaranteed Returns and Investor Protection
All contributions made through Sanlam Akiba Plus are guaranteed against capital depreciation and will earn a minimum return of 5% annually.
The assets will be managed in accordance with the Trust Deed and Rules, Investment Policy Statement (IPS), and the Retirement Benefits Act.
Pioneering a Tech-Led Retirement Future
With Akiba Plus, Sanlam joins the growing list of insurers adopting InsurTech-driven solutions to improve financial literacy, enhance convenience, and build a sustainable savings culture among Kenyans—particularly in the SME and self-employed segments.
By combining digital onboarding, transparent fund management, and personalized investment tools, Sanlam Kenya aims to position Akiba Plus as a trusted, future-ready platform in the evolving pensions market.
