NCBA’S NEW  SUITE OF TRUSTEE SERVICES TO SAFEGUARD COLLECTIVE SOLUTIONS

From left to right - Raphael Mwito, CEO, ILAM Fahari I-REIT, Peter Waiyaki, partner, Mboya Wangongu & Waiyaki Advocates, Eden Kaberere, head, trustee services NCBA , Sally Chege, director transactional banking, Eva Mwangi, general manager & head of custodial services, Charles Omondi, Ag, group director, corporate banking.
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NCBA Bank has launched a suite of trustee services solutions under the theme:  ‘Safeguarding Collective Investments.’  This comes after the bank obtained a real estate investment trust (REIT) trustee license from the Capital Markets Authority (CMA) in March 2024.The trustees are appointed for various purposes, such as managing assets during bankruptcy, overseeing retirement plans or pensions  and handling assets on behalf of others.

The solutions

The trustee services solutions include:  real estate investment trusts (REITs) – development REITs (D-REITs) , investment REITs (I-REITs)   and unit trust funds such as money market funds, bond funds, equity funds  and special funds. “At NCBA, we are dedicated to providing comprehensive trustee services tailored to collective investment schemes which ensure secure and efficient management of assets,” said NCBA Group Managing  Director, Mr. John Gachora.  “Our trustee services solutions are designed to offer secure and effective management of collective investment schemes, reflecting our dedication to safeguarding investments and fostering sustainable growth,” he added.

Currently, there are four established REITs in Kenya’s market: ILAM fahari Income REIT, Acorn development REIT, Acorn income REIT and Lapfund imara income REIT.

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