Jeremiah Chunge Cofounder, Chief Technology and HR Officer at Etica Capital Limited
by Ben Kioko
Etica Capital Limited (ECL) is a wealth-tech company looking to revolutionize wealth management for retail investors through technology, by creating a platform that instills confidence in the investing public that breeds transparency, innovation and financial inclusion with as little as Ksh 100.
The Company aims at creating unique and innovative products that will aid in the
deepening of the capital markets in Kenya.
To offer attractive risk adjusted investment returns and financial flexibility to the clients. This is all done by considering democratizing investments through technology.
“We started the Etica Capital Company in July 2021 and did our submissions together with co-founders to the Capital Market Authority as the industry regulator for Licencing. From there, we decided to do technology deployment, for we wanted a wealth tech company to be technology driven. Developed our own in-house cloud network in order to fit our customization. From that, it is easy to develop our Mobile App, APIs and IOS.” Said Jeremiah Chunge Cofounder, Chief Technology and HR Officer at Etica Capital Limited.
Etica Unit Trust Fund comprises four sub-funds, highlighted below, which enable the client access to diverse regulated products that suit their needs. The fund’s governance is as below;
Money Market fund targets investors with a short-term investment horizon and offers them an opportunity to get attractive returns at the same time protecting their capital and offering liquidity. The fund primarily invests in short-term money market instruments.
Etica Fixed Income Fund invests in a diversified portfolio of fixed income securities such as government bonds, bank deposits and other fixed income instruments, with the aims of offering attractive returns by outperforming the income yield available on money market instruments and fixed deposit accounts and at the same time.
Etica Sharia Fund targets investors who are
looking for an investment opportunity that
follow the Islam principals of investing. The
fund holds a diversified portfolio of shariah-compliant investments and aims to
offer investors regular income.
Etica wealth fund targets sophisticated investors who have a medium-term investments horizon and allows clients to participate in a well-diversified portfolio that is able to offer attractive returns, by
investing in a wide range of securities including but not limited to treasury securities and corporate instruments.
Etica wealth fund is able to offer competitive
returns, above returns available in money
market instruments.The fund is compounded on a daily basis hence investors’ funds grow fast.
The fund is regulated by the Capital
Markets Authority and has oversight from
the Trustee to protect investors.
Combined industry track record (Tech +investments) include;
Successfully developed the 1st mobile based money market fund called MALI in partnership with Safaricom M- PESA with minimum investment amount of KES 100.
Successfully championed the 1st CMA sandbox project dubbed MALI (formerly Wekeza) and successfully exited with approval to launch. We also advised the regulator with recommendations in regulatory guidelines for digital-based investment channels.
100 percent cloud migration of Genghis Capital Investment bank’s technology infrastructure in 1 day successfully,
Won various Technology Awards 2018, 2019, 2020, as well as numerous appearances in events as thought leaders from 2018 –to-date.
Developed the most interactive mobile based application dubbed G-kuze that enables retail clients to digitally onboard, trade, and redeem any of the listed NSE stocks as well as invest in money market fund.
Guided UK’s Financial Conduct Authority (FCA) on CMA sandbox experience, areas of improvement, and engagements for implementation at the other regulators whom they were consulting with, namely CBK, RBA and IRA in Kenya. We also held a meeting at RBA to advise them on how to implement the sandbox process and it’s advantages in innovation and sector deepening.
Technology Investment;
Successfully managed investments portfolio size of over KES 150Bn across different licensed brands.
Set up and commissioned Asset Management division in 3 different organizations.
Management team at Etica Capital Ltd include;
Maurice W. Oduor who is the Chief Executive Officer
With 14 Years of Experience with a
Bachelor of Business Administration at
Maseno University, CFA level 3, ICIFA, CISI.
Name: Kenneth W. Maina
Title: Portfolio Manager
Years of Experience: over 10 years
Qualifications: BSc. Agricultural Economics- Moi
University, CPA K, CISI.
Name: Alice N. Kamau
Title: Risk & Compliance Officer
Years of Experience: over 5 years
Qualifications: BSc Mechanical Engineering – UON,
Diploma in Business &IT- Strathmore University, CISI.
Name: Jeremiah M. Chunge
Title: Chief Technology & HR Officer
Years of Experience: Over 16 Years
Qualifications: BSc – Information Science – Moi
University, Various Certifications in IT, HR and
Strategic Marketing
Name: Samuel M. Muia
Title: Head of Distribution & Business Development
Years of experience: Over 16 years
Qualifications: Bcom. Finance –CUEA, CPA II, CISI
Name: Alice T. Chege
Title: Head of Finance
Years of Experience: Over 7 years
Qualifications: Bcom. Finance – Kenyatta University, CPA K, Masters of Finance.