Ms Edith Chumba, Head Wealth and Retail Banking, Kenya and East Africa at Standard Chartered, says investors feel inadequately prepared to make investment decisions on global platforms.

Kenyan Investors Develop a Strong Appetite for Foreign Currency Assets

BT ReporterOct 7, 20241 Mins read185

Standard Chartered Bank has cemented its foreign currency investments as investors increasingly seek opportunities beyond local markets. This year, the bank introduced US Corporate Bonds, USD Government bonds, and its own curated funds – Signature CIO funds. This complements an array of other products such as ESG funds, USD MMF, and Mutual Funds in various denominations.

Utilising a comprehensive digital infrastructure, Standard Chartered is democratising access to investment solutions for a new era of well-informed investors. The bank says its digital platform offers an array of global investment opportunities, including US Treasuries, Foreign Currency Money Market Funds (FCY/MMFs), and CIO Signature Funds. An investor can buy, track and sell investment products all on the digital bank platform.

Ms Edith Chumba, Head Wealth and Retail Banking, Kenya and East Africa at Standard Chartered, highlighted the strategic importance of financial education. “We believe that an informed investor is an empowered investor,” Ms Chumba said.

“Recent surveys indicate that 60% of new investors feel inadequately prepared to make investment decisions on global platforms. We are responding by enhancing our educational initiatives and digital offerings to build confidence and competence in the investment sector.”

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Research indicates that foreign currency assets, such as US Treasuries and Foreign Currency MMFs, are becoming increasingly popular among Kenyan investors, who are looking to diversify their portfolios. “Our investment offering is underpinned by a structured advisory framework and research to ensure our clients are well equipped when making financial decisions,” she says

Standard Chartered’s SC Wealth Select investment framework utilises the “Today, Tomorrow, Forever” approach to assist clients in identifying appropriate investment options. She said this method combines over 100 years of banking experience with real-time market insights to guide investors through immediate, short-term, and long-term financial planning.

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