Post: Asset Management Firm Expands to Mombasa, Eyes Bigger Role in Kenya’s Economic Growth

Nairobi: Jubilee Asset Management Limited (JAML) has opened its third Financial Advisory Centre in Nyali, Mombasa, signalling confidence in the country's growing investment culture and the government's efforts to improve ease of doing business. The firm, a subsidiary of Jubilee Holdings, was established in 2022 and has since posted impressive growth. As of August 2025, its retail investment funds surpassed Sh17 billion in Assets Under Management (AUM), a 78 percent Year-to-Date Growth and a 15-Fold Jump from Sh1 billion at the end of 2023.According to Kenya News Agency, JAML now manages Sh198 billion, including institutional funds. These resources, as noted by the Committee of Experts on Leveraging Local Financial Markets, could finance mega infrastructure projects through Public-Private Partnerships (PPPs). The Committee, appointed in February 2025 by Treasury Cabinet Secretary John Mbadi, has recommended creating a Public Private Partnership Implementation Trust Fund (PPP-ITF) to mobilise and deploy domes tic capital for development projects. The team has held extensive consultations with stakeholders, regulatory agencies, and private sector leaders. It has also conducted in-depth research and benchmarked global best practices to formulate strategic policies aimed at unlocking local investment for PPPs.Mombasa, Kenya's second capital city and the gateway to East and Central Africa through the Kilindini Port, contributes approximately 4.9 percent of the Gross Domestic Product (GDP). According to the Kenya National Bureau of Statistics (KNBS), the Port City is home to nearly 1.5 million people, and the population is expected to increase to 3.2 million by 2040.Speaking during the official launch, JAML Chief Executive Officer (CEO) Mr. Dominic Kiarie said that with the right financial structures and guidance, Mombasa is well-positioned to diversify into other high-impact sectors such as manufacturing, technology, and agriculture. 'We want to be a catalyst and a key enabler in unlocking this next phase of the r egion's economic growth,' said Mr. Kiarie. He added that as they continue to grow their physical footprint, the Company is also focused on making it easier to invest from anywhere in Kenya through the JAMHub digital self-service customer portal, which was launched in November 2024.The portal enables investors to open and manage investment accounts for the Jubilee Money Market Fund, both in Shillings and Dollars, and the Jubilee Fixed Income Fund (KES) conveniently and digitally. Kiarie affirmed that they are committed to bringing investment solutions closer to the people. The Nyali Branch is the first Financial Advisory Centre outside Nairobi. The Fund Manager aims to make it easier for both individuals and institutions to access personalised investment advisory services from dedicated financial advisors. The Centre will provide a welcoming space for personalised consultations and investment education sessions, as well as client support.'We want to give our customers a range of investment products and ser vices. The presence of this Financial Centre will assist Financial Advisors through training and customer service,' stated the CEO. The Chairman of Jubilee Holdings Limited, Zul Abdul, disclosed that since the Company diversified into asset management, it has experienced remarkable growth as witnessed in the assets it manages. 'We are looking for alternative investments for people who traditionally put their money in banks,' said the Chairman, adding that investments in money markets have higher returns.