Britam Launches KidNest Investment Plan for Children Starting from Ksh1,000
Britam has launched a new children’s investment plan allowing parents and guardians to begin saving for a child’s future with an initial investment of as little as Ksh1,000.
The KidNest investment account, unveiled by Britam, is designed for children aged between zero and 25 years and is aimed at parents, guardians, relatives and well-wishers looking to build funds for education, healthcare, entrepreneurship and other future financial needs.
The investment plan allows customers to make additional contributions from as little as Ksh100, potentially making it easier for families to build savings gradually over time.
Britam Group CEO Tom Gitogo said starting early could give investors a significant advantage because of the potential effect of compounding over a longer investment period.
“For an investor, time is the greatest advantage money cannot buy. If you look at a modest investment made with enough time, do consistently and with room to compound, it can outgrow far larger sums invested later,” Gitogo said.
How KidNest works
According to Britam Asset Managers, KidNest is structured as a low-risk investment vehicle that invests in short-term instruments.
Unlike products that require investors to keep their money invested for a specified period, KidNest is an open-ended fund with no lock-in period, allowing investors greater flexibility over their funds.
Interest is compounded daily, although the applicable rate can fluctuate depending on the fund’s market performance.
Britam said the daily rate is calculated from the return earned by the fund on that particular day. The published rate is net of the annual management fee but gross of the 15 per cent withholding tax.
The account also provides a mechanism for linking the investment directly to the child. The investor or account name will display the custodian’s name alongside the child’s name, allowing the investment to be clearly associated with its intended beneficiary.
Parents and guardians can also open accounts for more than one child, while the product allows for age-based transfers.
Britam highlights long-term benefits
Concepta Ayuma, Head of Business Development at Britam Asset Managers, said the product could help children access capital as they transition into adulthood.
“Come 18 years, all the money they will have saved can be used for entrepreneurship, starting a business, or even paying for a course,” Ayuma said.
The product comes as financial institutions increasingly promote early and consistent investing as families look for ways to meet rising education costs and prepare young people for financial independence.
Britam is also positioning the product as a digital investment option, allowing customers to start the process without necessarily visiting a physical branch.
How to open a KidNest account
Parents and guardians can open a KidNest account through the MyBritam App, the Britam customer portal, *778#, or with assistance from a financial adviser.
Customers can also use Bella, Britam’s AI-powered WhatsApp chatbot, to access investment and insurance services.
To begin through the MyBritam App, applicants can follow these steps:
- Start the application: Open the MyBritam App, select Products, then Investment, and choose KidNest.
- Prepare the required documents: Applicants need a National ID or valid passport, KRA PIN, bank account details and the child’s birth certificate. Proof of guardianship may also be required where applicable.
- Choose the investment plan: Enter the initial amount, intended investment period and preferred frequency of additional contributions.
- Enter personal details: Provide bank and account-holder information together with the required employment and identification details.
- Add the child’s details: Enter the child’s name, date of birth, gender and birth certificate information before reviewing and completing the application.
Those using Bella can initiate the process by sending “Hi” to Britam’s WhatsApp service on 0705 100 100, selecting the investment option and following the prompts.
The launch gives Kenyan parents and guardians another investment option focused specifically on building financial resources for children, with the ability to start with a relatively small initial amount and continue making contributions over time.
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