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About Zimele

History

Zimele Asset Management is a company wholly owned by Kenyans and licensed and regulated as a fund manager by the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA).

The company commenced operations in August 1998 with the goal of pooling retail funds for investment in the financial markets. The name Zimele means “stand on your own feet” in Zulu and is based on the Zimele Trust Fund, a black economic empowerment fund that was founded by the late Steve Biko who was the leader of South Africa’s Black Consciousness Movement during the apartheid era.

Investment opportunities in the financial markets were restricted to high-networth individuals and institutions given the high minimum entry requirements. Zimele’s mission was to democratize pooled investments by providing individuals with access to the financial markets at affordable entry levels but with returns similar to those enjoyed by preferential investors at the time.

The vehicle for pooling was the Zimele Multipurpose Co-operative Society Limited which was the fund where individuals would join and invest collectively in the financial markets. Right from the beginning, the fund adopted the globally-approved governance structure of having a trustee, fund manager, and custodian as separate service providers.

Subsequently, the Zimele Equity Portfolio was launched in August 1998 and was the first of its kind to offer individuals access to local listed equity investments at an entry-level of ksh.5,000. It was followed by the Zimele Money Market Portfolio in early 2000 and the Zimele offshore Portfolio in late 2001. 

The company was granted a fund manager’s license by the Capital Markets Authority (CMA) in 2005 which led to the transition of the Zimele Multipurpose Co-operative Society Limited into the Zimele Unit Trust Scheme in early 2007. This was quickly followed by the approval from the Retirement Benefits Authority (RBA) in March 2007 to operate the Zimele Personal Pension Scheme on a similar philosophy of taking retirement savings to the mass market. 

We acknowledge and appreciate our founders’ pioneering spirit. They cleared the ground and charted a path that has proven to be conducive to the good and benefit of one and all. It is on this path that the journey continues to make savings, investing, and retirement planning affordable and accessible to all aspiring Kenyans.

Our Brand

The word Zimele means “Stand on your own feet”. Our mission since inception has been to provide innovative and practical investment solutions that people can use to achieve their goals. We have therefore designed a suite of products to help people meet their needs and goals at different stages of their life.

Our logo features cattle transitioning to the name Zimele. Livestock was one of the traditional stores of wealth in our culture. This inspiration pays homage to our African heritage. The transition from cattle to Zimele symbolizes the modernization of wealth creation in our society; From livestock to the financial markets.

Our Vision

To be the most preferred provider of Investment Services in Kenya and the region.

Tagline

Actualizing Aspirations Since 1998

Our Mission

To provide practical and innovative investment services that will enable our clients to achieve their financial goals.

Board of directors

Dr. David Ndii

Chairman

George Ooko

Non-Executive Director

Njeri Kariuki

Njeri Kariuki, SC

Non-Executive Director

Peter Waa

Non-Executive Director

Dr. Thomas Kiyai

Independent Director

Caroline Karanja

Independent Director

Our Team

Isaac Njuguna

Joint CEO

Isaac Njuguna has a track record of more than 27 years in the retail investment management industry.

He holds a B.A. (Hons) in Economics & Sociology from Egerton University and an M.A. in Economics from the University of Nairobi. He is a Chartered Member, MCSI, of the Chartered Institute for Securities & Investments (CISI) of the UK; he is a practicing member, PFA, of the Institute of Certified Financial Analysts (ICIFA) of Kenya; and a member of the American Economic Association (AEA). He has attended numerous courses, seminars, and workshops in the arena of capital markets, retirement benefits, finance, and economics.

Isaac joined Zimele, a pioneer in retail pooled investments, in 1998 and rose through the ranks to the position of Joint CEO. During his tenure, Zimele has introduced innovative products that have expanded investment opportunities for individuals. His vision and dedication to customer-centricity have been key factors in the organization’s success. Isaac firmly believes in putting the needs of clients at the forefront, establishing strong relationships based on trust, and delivering exceptional service.

Passionate about financial inclusion and financial literacy, he has been a driving force behind initiatives aimed at empowering individuals from all backgrounds. He has championed programs focused on educating and equipping individuals with the knowledge and tools needed to make informed financial decisions. Isaac’s mission is to foster a more financially inclusive society where everyone has access to financial resources to enable them to achieve their life goals.

Taking a personal finance approach, Isaac emphasizes goal-based saving and investing. By understanding clients’ aspirations and aligning investment strategies accordingly, Zimele helps individuals navigate their financial journeys and achieve their objectives with precision.

Isaac’s visionary leadership, commitment to financial inclusion, and customer-centric strategies have positioned him as a respected figure in the industry. His remarkable achievements and dedication have made a significant impact, driving the organization’s growth and success.

Sammy Muvelah

Joint CEO

Sammy Muvelah is the Co-CEO of Zimele Asset Management with more than 27 years in the industry.

He holds a B.A. (Hons) in Economics & Sociology from Egerton University and an M.A. in Economics from the University of Nairobi. He is a Member of the Chartered Institute for Securities & Investments (CISI) of the UK and a member of the Institute of Certified Financial Analysts (ICIFA) of Kenya. He is currently serving as a board member at The Institute of Economic Affairs (IEA Kenya).

Under his leadership, Zimele has deepened its footprint in the pension and unit trust space, launched impactful public education campaigns, and consistently advocated for reforms to unlock the potential of long-term savings for national development. He has also championed the growth of personal pension, speaking out on regulatory and structural reforms that could align Kenya’s pension industry with its broader socio-economic goals.

Beyond executive leadership, Sammy contributes to the governance and strategic oversight of higher education institutions, where he plays an active role in advancing academic excellence and institutional capacity building. His engagement reflects a broader commitment to knowledge-sharing and strengthening Kenya’s educational landscape.

Sammy also brings extensive experience in public policy and economic research, having worked closely with think tanks and policy forums on issues such as pension asset mobilization, housing finance, and financial sector reform. His insights have informed reports and roundtables examining how investment capital can be better aligned with social impact, particularly in areas like housing, risk pooling, and financial access.

In addition, Sammy is deeply involved in financial literacy initiatives. He regularly engages with community groups, creatives, and civic organizations to foster a culture of savings and financial empowerment.

 

Francis Sang

Head of Finance

Francis holds a Master of Business Administration Degree (Finance) from the University of Nairobi, and a Bachelor of Science degree in Industrial Chemistry from Kenyatta University. He is a CPA (K) and a member of the Institute of Certified Public Accountants Kenya (ICPAK). He is also a Certified Investment and Financial Analyst and a member of the ICIFA institute, having completed the CIFA certificate course. He is currently undertaking a Doctor of Philosophy degree in Business Administration at the University of Nairobi.

He has over 15 years of experience working in the Finance Industry.

Wilfred Muthomi

Head of Business Development

Wilfred is an accomplished professional with over a decade of experience in the digital landscape, covering a broad range of areas including marketing, product development, and organizational digital transformation. He works closely with cross-functional teams to design innovative products, bring them to market, and enhance the overall customer experience.

Wilfred holds a degree in Business Management (Finance) from Masinde Muliro University of Science and Technology and a certification in Digital Transformation from the University of Virginia and BCG. He also has a CISI certification.

Christine W. Hope

Head of Customer Service

With more than 8 years of working experience in the Customer Service Field, Christine has a track record of exceeding Customers’ expectations consistently. Passionate about effective Communication and Client Satisfaction, she has continuously enhanced her knowledge and expertise through continued learning by attending training and seminars. Also with strong inter-personal, administrative, communication, and complaint resolution skills over the years; She has built positive customer interaction by integrating Customer Feedback and Complaint’s Data in the overall Company’s pursuit of improving Customer Experience through effective strategies, initiatives and other development polices thus building great and continuous customer satisfaction and trust.

Christine has a Bachelor’s Degree in Business Management (Finance and Accounting) and CISI certification.

Peris Masese

Head of Fund Accounting

Peris Masese is an accomplished Fund Operations and Administration Manager at Zimele Asset Management, bringing over seven years of experience in asset management. She holds a Master of Commerce in Strategic Management and is a Certified Public Accountant (CPA-K). Peris specializes in asset valuation, fund administration, financial reporting, and regulatory compliance. She leads initiatives that enhance valuation accuracy and automate financial reporting, driving operational excellence and regulatory alignment.

Her strategic insight and collaborative leadership enhance Zimele’s investment operations and financial oversight, supporting the delivery of long-term returns to clients while upholding rigorous standards in accounting, compliance, and governance.

Carol Njeri

Head of Fund Management

Carol Njeri is a Fund Manager known for her sharp market intuition and data-driven decision-making. She holds a Bachelor’s degree in Financial Engineering and has enhanced her expertise with training in Data Science. Carol has successfully managed multi-asset portfolios through volatile market cycles, consistently aligning performance with client objectives. Her investment philosophy centers on disciplined research, value-driven allocation, and long-term growth. Guided by the belief that “clarity beats complexity,” she simplifies financial strategies to deliver real-world impact.

Passionate about financial inclusion, Carol mentors young professionals and advocates for smarter personal finance across Africa—blending performance with purpose in every portfolio she manages.

Esther Ndung’u

Head of Risk and Compliance

Esther Ndung’u is a risk and compliance professional with years of experience in the Financial Services industry. She holds a bachelor’s degree in financial engineering and has been involved in implementing and monitoring regulatory compliance programs, risk management processes, and internal controls. Her experience supports the organization’s commitment to regulatory compliance, sound risk practices, and ethical standards.

 

She is committed to continuous professional development and regularly undertakes relevant training and courses to strengthen risk mitigation and compliance practices.

Unit Trust

Fund Manager: Zimele

The role of the fund manager is to ensure funds are invested prudently.

Trustee: KCB Bank

The role of the Trustee is to safeguard the interests of members.

Custodian: Standard Chartered Bank

The role of the custodian, who must be affiliated to a commercial bank, is to keep all investment certificates and money safely on behalf of members.

Regulator: Capital Markets Authority (CMA)

The role of the regulator is to license the fund manager and make the rules of the market.

Pension plans

Fund Manager: Zimele

The role of the fund manager is to ensure funds are invested prudently.

Trustee: MTC Trust & Corporate Services

The role of the Trustee is to safeguard the interests of members.

Custodian: KCB

The role of the custodian, who must be affiliated to a commercial bank, is to keep all investment certificates and money safely on behalf of members.

Regulator: Retirement Benefits Authority (RBA)

The role of the regulator is to license the fund manager and make the rules of the market.

Financial Reports​

ZIMELE 2025 AUDITED ACCOUNTS

ZIMELE ASSET MANAGEMENT 2024 AUDITED ACCOUNTS

ZIMELE UNIT TRUST 2024 AUDITED ACCOUNTS

ZIMELE PENSION 2024 AUDITED ACCOUNTS

ZIMELE UNIT TRUST 2023 ACCOUNTS

ZIMELE UNIT TRUST 2022  ACCOUNTS

ZIMELE PENSION 2022 ACCOUNTS

14th AGM Minutes

ZIMELE UNIT TRUST 2020 AUDITED ACCOUNTS

ZIMELE PENSION PLANS

About Company
Board of Directors
Funds Framework
Financial Reports
Careers

Dr. David Ndii - Chairman

Dr. David Ndii is a Rhodes scholar and Eisenhower fellow. He holds a bachelor’s degree and a master’s degree in economics from the University of Nairobi; and a master’s degree and a doctorate degree in Economics from Oxford University. He has vast experience in economic research, policy analysis and corporate strategy having worked with governments, think tanks and corporations, both regionally and internationally.

He has previously held the position of chief economist at Equity Bank Group and was a founder member of the Institute of Economic Affairs (IEA Kenya) and Africa Economics. Dr. Ndii also served as a public finance expert to the Kenya Constitutional Review Committee of Experts (COE). He was an Economic advisor to the government of Rwanda and advised the NARC administration on the Economic Recovery Strategy (ERS) which is widely credited with the post-2003 economic recovery in Kenya. He has also consulted for international development institutions and advised leading corporations in East Africa on strategy.

Dr. Ndii is currently serving as the chairperson of the President’s Council of Economic Advisors (CEA).

George Ooko

George Ooko holds a Bachelor of Commerce and Masters of Business Administration degrees from the University of Nairobi. He has vast experience in both the private sector and the public sector.

He has previously held the position of Chief Executive Officer of the Coffee Development Fund; Secretary of the Commission on Revenue Allocation (CRA); and director of retail banking at the banks formerly known as Barclays Bank (now Absa Bank) and NIC Bank (now NCBA Bank). He is the former Chairman of the Kenyatta National Hospital Board.

Njeri Kariuki, SC

Njeri Kariuki is a Senior Counsel, Chartered Arbitrator, and Accredited Mediator who practises from Nairobi with her primary profession being grounded in the Law, being an Advocate of the High Court of Kenya.
Njeri:

  • was conferred the rank of Senior Counsel in December 2025
  • is a Fellow of the Chartered Institute of Arbitrators
  • has been cited in Chambers Global since 2014 to date as a Leading Individual
  • is a Government of Kenya Nominee to the Panel of Arbitrators at ICSID
  • in May 2018, was appointed to the ICC International Court of Arbitration as the Member representing Kenya
  • has recently been cited as one of the top 30 African arbitrators

Njeri’s arbitration, litigation, certified secretary, conveyancing and mediation practice covers a range of domestic and international commercial matters and on account of delving into the realm of adjudication, became a DRBF Member, and thoroughly enjoyed a 3-year stint as Chair of a Dispute Adjudication Board set-up to midwife an international geothermal project to fruition. Njeri is also a Tutor & Trainer with the Chartered Institute of Arbitrators and conducts courses and assessments in Kenya and anywhere else her services may be required.

Peter Waa

Peter is a businessman and consultant with extensive experience in the IT industry. He is the managing director of Paysure Limited, an online payments solutions provider.

Dr. Thomas Kiyai

Dr. Thomas Kiyai is an independent director and chairs the audit committee. He is a seasoned professional with over 30 years of extensive experience in auditing, financial management, accountancy and strategic management.

He has held various leadership positions at esteemed institutions such as director of finance at KCB Bank Kenya and Chief Executive Officer and Managing Director at Consolidated Bank of Kenya.

He is a member of the Institute of Certified Public Accountants of Kenya (ICPAK) and a graduate of Oxford Executive Leadership Program, reflecting his commitment to professional excellence and continuous learning.

He holds a Doctorate of Business Administration (DBA) in Finance at Catholic University of Eastern Africa.

Caroline Karanja

Caroline Karanja is an Independent Director and Chairs the Risk Committee. She has over 20 years of strategic and operations experience.

With a diverse career spanning NGOs, entrepreneurial ventures, and commercial trade, Caroline brings on board extensive expertise including Financial Law, Change Leadership, Corporate Governance, and Sustainability.

Caroline has held key roles in various organizations, including the Association of Women Accountants of Kenya (AWAK) and the Institute of Certified Accountants of Kenya (ICPAK) where she is a ICPAK council committee member.

Caroline is a member of ICPAK, ICPSK, WOBN, AWAK, CCG, and Toastmasters International.