Teleposta to liquidate assets worth KES 11B

The teleposta pension scheme has announced plans to liquidate up to 70 percent of its asset portfolio, an equivalent of about 10 to 11 billion shillings from a total portfolio of 14.1 billion. This, they say, will improve the scheme's liquidity and its ability to meet member obligations. The move will see the scheme dispose of several prime property holdings, including the iconic teleposta towers in Nairobi, as it moves away from traditionally immovable assets such as real estate investments toward more flexible financial instruments.