Sanlam Kenya Unveils Akiba Plus, a Digital Pension Platform to Boost Retirement Savings and Financial Inclusion
Listed non-banking financial services firm Sanlam Kenya Plc has launched Sanlam Akiba Plus, a new tech-driven pension solution designed to empower Kenyans to plan for retirement with greater flexibility and convenience.
The mobile-first pension platform allows users to self-onboard, manage their savings, and monitor investment growth in real time. The platform also enables employers and SMEs to easily set up workplace pension schemes, supporting Kenya’s growing need for accessible and transparent retirement solutions.
Speaking during the launch, Sanlam Life CEO Jacqueline Karasha said the innovation is part of Sanlam’s broader strategy to leverage Insurance Technology (InsurTech) to deepen financial inclusion and expand life insurance penetration.
“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. This is about helping Kenyans save consistently and retire with dignity,” said Karasha.
The launch follows recent data from the Insurance Regulatory Authority (IRA) showing strong industry growth driven by digital transformation. In the second quarter of 2025, Kenya’s long-term (life) insurance business recorded gross written premiums of KSh 110.39 billion, a 17.7 per cent growth compared to the same period in 2024.
Sanlam Kenya Group CEO Dr. Patrick Tumbo, EBS, emphasized that Akiba Plus demonstrates the company’s commitment to innovation and client empowerment.
“With Sanlam Akiba Plus, our existing and potential 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.
To cater to diverse customer needs, Akiba Plus brings together four pension solutions under one digital platform:
Akiba Plus Personal Pension Plan (IPP): A flexible, tax-efficient plan for individuals who want to control their financial future and enjoy real-time access to their investment growth.
Post-Retirement Medical Fund (PRMF): A dedicated fund to help users prepare for healthcare expenses in retirement, offering a structured, tax-efficient savings avenue.
Employer Umbrella Pension Plan (UPP): A seamless solution for employers to provide long-term financial security for employees, complete with payroll integration and regulatory compliance.
NSSF Tier II Compliant Pension Plan: A compliant digital alternative for employers seeking to channel Tier II contributions into Akiba Plus for higher returns and greater transparency.
All contributions made through Akiba Plus will be guaranteed against capital depreciation and earn a minimum return of 5 per cent, with assets managed in line with the Retirement Benefits Act and the scheme’s Trust Deed and Investment Policy Statement.
With Akiba Plus, Sanlam Kenya continues to position itself as a leader in digital pension innovation, championing financial inclusion, advancing retirement security, and empowering Kenyans to build sustainable wealth for the future.