Octagon Africa,Alexforbes strengthens Retirement and Pensions

• Octagon Africa and Alexforbes Deepen Ties,Bringing Two-Tier Expertise to Help Kenyans Boost Benefits Under New NSSF Framework;

Octagon Africa has deepened its collaboration with South and Central Africa’s leading financial services provider and pension fund administrator, Alexforbes, to strengthen retirement solutions and widen pension coverage in Kenya.

This builds on an existing relationship and supports Kenya’s role as a gateway for long-term savings growth across East Africa.

The enhanced collaboration brings together Octagon’s 19 years of regional experience and Alexforbes’ 90 years of expertise.

Together, they aim to support the growth of retirement savings in one of Africa’s fastest-growing pension markets.“We are deepening our collaboration with Alexforbes to benefit from their strong experience in retirement benefits,” said Fred Waswa,Group CEO of Octagon Africa.

“Alexforbes has played a key role in managing the two-pot retirement system in South Africa, where they have processed over KES 88 billion in claims within 17 months.

We are therefore using these lessons to strengthen our systems, improve service delivery, and introduce practical retirement and investment solutions.

This will help us grow our membership, especially among SMEs and underserved groups.”

The collaboration will help address emerging retirement risks.As people live longer, many retirees will need income for 20 to 30 years after leaving work.

The partners will develop solutions to manage this, including options that support healthcare needs in retirement.

Kenya’s strong use of mobile money and digital platforms creates an opportunity to make pension services more efficient, lower costs, and improve the customer experience.

“Our role is to make sure retirement savings are secure and continue to grow,” said Dawie de Villiers, Group CEO of Alexforbes.

“We bring research, global investment insight, and practical experience from large-scale reforms such as the two-pot system.

This allows us to support solutions that balance short-term access to funds with long-term financial security.”

The deeper collaboration comes at a time of major change in Kenya’s pensions sector.The NSSF Act has introduced an earnings-based contribution model, with both employers and employees contributing 6% of monthly income, under a Tier I and Tier II structure.

This reform is increasing contributions while expanding participation in formal retirement savings.

Pension industry assets have grown to about KES 2.81 trillion as at December 2025, underscoring the sector’s increasing role in supporting long-term economic development.

Octagon Africa and Alexforbes intend to build on this momentum by improving efficiency, expanding access, and delivering improved outcomes for members.

Kenya’s position as a regional hub further strengthens this opportunity.The country provides access to a market of about 300 million people across East Africa,with a growing middle class and expanding formal workforce driving demand for structured retirement and investment solutions.

Ongoing regulatory changes are also shaping the sector, including the potential introduction of the two-pot retirement system.

Drawing on experience from South Africa, the collaboration will support frameworks that allow access to savings when needed while safeguarding long-term financial security.

The collaboration is also expected to increase pension access for SMEs, which employ a large share of the workforce but remain underserved.

Simple umbrella schemes and digital systems will make it easier for businesses to offer retirement benefits.

At a national level, higher pension savings can support investment in infrastructure, energy, and other development projects, reinforcing Kenya’s position as a stable and attractive investment destination.

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