Muathi Kilonzo, NCBA Investment Bank Managing Director
Wealth management in Kenya and the wider East African region is undergoing major transformation, driven by growing demand for tailor-made solutions, enhanced operational efficiency, and the rapid adoption of digital technologies, NCBA Investment Bank Managing Director Muathi Kilonzo unpack this at CNBC Africa.
In his opinion, Kilonzo stated that these trends were redesigning the financial sector and leading both, investors and businesses to new possibilities.
While speaking at CNBC Africa, Kilonzo observed the impact of technological progression, changing regulations, global warming, and geopolitical risks on the sector.
He stated that the qualities of being tough and having foresight were at the center of financial planning now, with banks like NCBA getting ready to be the best guides in times of trouble.
“Today, risks such as cyberattacks, supply chain disruptions from conflicts, or even the unpredictable impacts of climate change are no longer peripheral, they are at the heart of business strategy. We must embrace these risks as a call to innovate and to prepare for sustainable growth.” said Kilonzo
However, NCBA is looking to make bancassurance a part of the wealth management solution as one of its top priorities. As Kilonzo said, the model goes beyond the average insurance with the idea of weaving strength in both businesses and families so that they are prepared for health emergencies, logistics risks, or agricultural losses caused by weather changes. In this way, clients are enabled to seek progress while at the same time being safeguarded against the unexpected.
Also, digital platforms are a significant part of the picture. NCBA has led the way in using digital solutions to help the farmers. It is offering microfinance and insurance products that are opening up financial inclusion.
Moreover, wealth managers all over the world use AI-driven technology to predict risks and identify the profitable areas. Besides, the regulators in Europe are pushing the financial institutions to comply with the environmental standards.
Kilonzo emphasised that succession planning is another emerging priority. With statistics showing that only 30 percent of businesses survive beyond the second generation, NCBA is working with clients and partners such as legal advisors to set up trusts, wills, and estate plans that secure long-term wealth transfer.
“As we engage with our customers, our aim is not just to help them grow wealth, but to protect it, and ensure it passes on sustainably,” added