Fund Asset size has significantly grown over the past five years posting a CAGR of 18% driven by investment capital expenditure that is done out of the increasing member contributions and less than envisaged benefit pay-outs.
Total income constitutes interest income, real estate income, dividends, other income earned and share of results from associates. This has grown by a CAGR of 19% over the past five years driven by general growth in the major income streams but more significantly the growth in interest income from investment in treasury bonds over the East African region with bonds held in Kenya, Rwanda, Tanzania and Uganda.
Accumulated Member Fund constitutes member contributions, interest credited to member accounts less benefits paid out. This has grown by a CAGR of 19% in the last five years driven by the growing member contributions, increasing interest credited to member accounts and less than projected benefits pay-outs.
Contributions from members have grown by a CAGR of 11% in the past five years driven by new member and employer registrations and the increased focus on growing the voluntary membership plan in the past five years.
The Fund’s Cost of Administration has continued to reduce mainly driven by deliberate cost reduction measures and efficiencies realised from continuous business process improvements.
Benefit payments turnaround time was 8 days as a result of the short lived liquidity stretch experienced by the Fund as it embraced the opportunity to invest in a first time 20 year Government Bond issued at a very competitive return amidst reduced collections and increased benefits payout.
