Octagon Africa has appointed Davis Ongiro as the new chief executive for its Kenyan business, tasking him with growing access to retirement products among workers in the country’s largely informal economy. The move signals Octagon’s push to capture a bigger share of Kenya’s underdeveloped pensions market, where millions of low- and middle-income earners remain outside formal retirement savings plans.
Ongiro, who has been with Octagon for more than a decade, previously served as General Manager for Marketing, Product and Business Development. He takes over at a time when the firm is seeking new growth by targeting micro, small and medium-sized enterprises (MSMEs) and introducing digital tools to make pensions easier to manage and access.
Fred Waswa, Octagon Group CEO, said Ongiro’s appointment was part of a plan to deepen the company’s footprint in Kenya and expand its retirement and insurance products.
Ongiro said his focus will be to “transform how Kenyans prepare for retirement,” with an emphasis on affordability and inclusion. “Our goal is to ensure that every worker, regardless of income level or employer size, can retire with dignity and confidence,” he said.
Octagon, founded 18 years ago, manages pension, insurance, and actuarial services across the region. The firm recently partnered with South Africa’s Alexforbes to launch an affordable retirement benefits scheme aimed at Kenya’s MSME sector — a segment employing more than 15 million people.
Under the Octagon Umbrella Retirement Benefits Scheme, small enterprises with as few as three employees can enrol their workers for pension, group life, and medical cover through digital platforms designed to simplify compliance and contributions.
