NAIROBI, Kenya, May 27 – NCBA Bank has unveiled trustee services as the lender seeks to expand investment solutions for clients.
The unveiling comes after it secured a license from the Capital Markets Authority (CMA) in March 2024 to offer the Real Estate Investment Trust (REIT).
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 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 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 existing REITs in Kenya: the ILAM Fahari Income REIT, the Acorn Development REIT, the Acorn Income REIT, and the Lapfund Imara Income REIT.
