Kenya’s National Social Security Fund, the state-run pension company, said assets grew 12 percent in the year through June 2011 as the value of its investments climbed.
Assets rose to 110.4 billion shillings ($1.3 billion) from 98.6 billion shillings in fiscal 2010, it said in a statement in the Nairobi-based Daily Nation newspaper today.
The total value of investments by the NSSF, as the state pension fund is known, advanced to 111 billion shillings from 96.4 billion shillings, Acting Managing Trustee Tom Odongo said in the statement. Contributions from members rose 1 percent to 6.84 billion shillings, he said.
To contact the reporter on this story: Eric Ombok in Nairobi at firstname.lastname@example.org
To contact the editor responsible for this story: Ana Monteiro at email@example.com