We engage with our clients to understand their needs and ensure we offer solutions specific to those needs . We have programs where our wealth advisors are trained on identifying the client ’ s profiles ( risk , return , tenor , objective etc ). We also carry out regular customer surveys to engage and gauge the level of service delivery and satisfaction , with a clear intention of improving our service .
What would you say about the state of the Asset Management Industry in Kenya Today and how is CICAM lending itself to its growth ?
Asset Management Industry is on its growth trajectory and there are many opportunities for both the industry and Kenyan citizens . With the pandemic the spirit of planning has been rekindled and more education is required on the role of savings and investments to everyone . We all need a fall back plan when the terrain changes and this is the core business of our industry .
Remaining innovative and resonating with our clients ( current and potential ) changing needs has made CICAM relevant and we will continue to think ahead with the changes in the environment to provide relevant solutions at all times .
What key challenges are you facing in serving this market ? What in your view would give you more impetus to deliver on your mandate ?
The levels of financial literacy are still very low and this needs to be deliberately included in the school curriculum . Taxation is another element which needs some consideration and especially to the retail investors who are already burdened .
How do you as a corporate citizen , interface with other corporates in the Kenyan business ecosystem ? How do you tap into their muscle in helping drive your vision ?
Asset Management Industry is on its growth trajectory and there are many opportunities for both the industry and Kenyan citizens . With the pandemic the spirit of planning has been rekindled and more education is required on the role of savings and investments to everyone . We all need a fall back plan when the terrain changes and this is the core business of our industry .
We do not work in isolation and participate in a number of industry activities including being a member of the Fund Managers Association , The Association of Collective Investment Schemes and a member of Reits Association . We work closely with many cooperatives and pension schemes offering our services but most importantly providing training and advice .
Great financial planning will help alleviate the poverty levels in the country . Do you share your technical prowess in positive policy formulation with relevant government arms in pursuit of poverty alleviation ?
We participate and engage with the government agencies in giving our views and recommendations but mostly through the associations to give it the impetus and weight both in policy formulation and legislation at the exposure points . We have worked well and the government has taken our views into consideration most of the times .
How has CIC Group rewired team engagement to ensure your brand promise is sustained amid the pandemic as you ensure their safety and that of your customers ?
Staff engagement was given priority ensuring continuity of business with safety . The work from home policy was implemented with ease and urgency and the government protocols have been implemented to the letter to make our staff happy and comfortable to deliver on the corporate brand promise . We have lived our values through this period , which are Dynamism , Co-operation , Integrity and Performance and this has lifted the brand presence and appropriately positioned it in our client ’ s minds .
How has the Covid-19 pandemic impacted your operations ? Do you see more opportunities in the mix ? How do you intend to ride on this to give more value in view of the changed landscape ? Any unique lessons from where you sit ?
It is regrettable that the pandemic has caused a lot of harm to both individuals , corporates and the economy at large . That said , it has presented huge opportunities which the businesses who took the challenge and exploited have benefited .
There is a new way of doing things and technology has aided in ensuring adaptation . New products were created , technology aided service improvement , cost reduction measures identified , work from home , school at home , church fellowships online , and the creation of a self-reliant economy due to the closures are now a reality . Corporates and individuals alike have appreciated the fact that they require reserve / emergency funds .
These are excerpts from the discussion with Stanley Mutua , Managing Director CIC Asset Management Limited as captured by Marketing Africa Crew . For more information or comments drop us a line on : Info @ marketingafrica . co . ke .