Kuleni Financial Services has diversified its business portfolio as it seeks to provide retirement benefits in addition to earlier functions as a funds administrator.
The company, a subsidiary of the Government Institutions Pension Fund (GIPF), on Monday launched its new brand of Kuleni Financial Services, transitioning from Kuleni Fund Administrators.
“For the past years, we had no interactive platforms, which made it a bit difficult to easily communicate with our clients, hence the reason we have now developed these channels. We are moving beyond the pension fund, being an administrator where we started from. Now we have established other market solutions that can assist our members in preparing for retirement. So, when you make these things together it goes beyond being an administrator hence promoting the rebranding process,” said Kuleni CEO Selby Sibeya.
“The main driver is the revision of our high-level strategic plan which we have streamlined to three years. We seek to partner with individuals and employers to provide these solutions to them, hence rebranding and seeing a new Kuleni, so that it represents what we are doing at the moment. If you look at the logo we have a Gold Bar and a Pyramid. The Gold bar is for creating wealth and not only to save your money, thus sharing prosperity. The Pyramid is growth, we want to grow your money.”
In terms of clientele, Sibeya said the entity has established a preservation fund where one can come and join, whether as an employer, employee or any other individual. He adds that a client will be able to access their funds after three years of investment.
“Also as an individual, if you realise what you will earn after retirement is not sufficient, we have an avenue where we can supplement with an affordable product,” he added.
GIPF CEO David Nujoma said a name change should be able to be broad and incorporate business strategy, integrity, client focus and innovation. “Do not forget about corporate governance as it is an important element in business and rebranding. I have observed growth in the company, therefore as it grows I do not wish to hear of the CEO not seeing eye to eye with board members. I hear these things and I am puzzled at such scenarios because it is intolerable and unacceptable for two heads not to talk to each other when they are expected to work together,” warned Nujoma.
“Therefore, there should be no misalignment of activities between the board and the CEO. The purpose of governance is to align all strategies together for ease of implementation and working in tandem.”
Kuleni board chairperson Julia Muetudhana said the company revised its high-level statements, which then led to the drafting of a new three-year strategic plan, which catapulted to rebranding. This also included the review of the mission and vision statements.
