The National Social Security Fund (NSSF) invested the largest share of its assets in government securities as of December 2025, reflecting a strategy focused on relatively stable and low-risk returns.
Data from the Retirement Benefits Authority (RBA) industry brief shows that government securities accounted for Sh379.85 billion of NSSF’s investments.
Listed preference and ordinary shares formed the second-largest allocation at Sh107.56 billion.
The fund also invested Sh38.08 billion in immovable property and Sh34.15 billion in offshore investments, indicating diversification beyond domestic markets.
Cash and demand deposits stood at Sh18.11 billion, while corporate bonds accounted for Sh17.02 billion.
Private equity and venture capital investments totalled Sh13.73 billion, while fixed and time deposits stood at Sh9.79 billion.
Smaller allocations included Sh2.82 billion in Real Estate Investment Trusts (REITs) and Sh2.68 billion in unlisted shares and equity instruments.
Overall, NSSF’s total net assets reached Sh623.79 billion by December 2025, marking an 11.78 per cent increase from Sh558.07 billion recorded in June 2025.
Comments 0
Sign in to join the conversation
Sign In Create AccountNo comments yet. Be the first to share your thoughts!