Investors welcome opening of Standard Investment Bank in Mombasa
The office, located at Nyali Centre on Links Road, marks SIB's second branch outside Nairobi as the bank celebrates its 30th anniversary this year.
Investors and business owners in Mombasa have welcomed the opening of Standard Investment Bank's (SIB) first regional office in the coastal city, a move that brings long-awaited investment services closer to local clients who have for years been forced to seek them in Nairobi.
With Mombasa's economy heavily reliant on trade, tourism, and real estate, investors say the presence of SIB will unlock new opportunities for wealth creation.
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The office, located at Nyali Centre on Links Road, marks SIB's second branch outside Nairobi as the bank celebrates its 30th anniversary this year. The expansion comes in response to growing demand from Mombasa investors seeking access to global and local investment products.
Nahashon Mungai, SIB's Executive Director of Global Markets, said the decision to set up the branch was influenced by consistent requests from Mombasa clients.
"We have received numerous requests from Mombasa residents asking for a physical office here. Many of our clients have been travelling to Nairobi to access our services, but now we are bringing those services closer home," said Mungai.
Among those welcoming the new office is Salma Haji, a businesswoman who has been investing in shares for the past five years
"I have always wanted to invest more, especially in global markets, but travelling to Nairobi was expensive and time-consuming. Now that they are here, I can easily walk into the office for advice and investment opportunities," she said.
Mombasa County officials together with Standard Investment Bank officials during the opening of its first regional office in the coastal city located in Nyali Centre in Mombasa County. (SIB)
SIB, one of Kenya's largest investment banks, offers a wide range of services, including stockbroking, market research, and fund management.
Its flagship product, Mansa-X Special Fund, has attracted significant interest from investors seeking high returns. The fund, which operates in both Kenyan Shilling and US Dollar options, has averaged over 18% returns annually in the past seven years by investing in global financial markets.
Ahmed Abdallah, a retired civil servant from Nyali, said the new branch would empower local investors to explore opportunities beyond Kenyan markets.
"I have always wanted to invest in international markets like the US stock exchange, but I didn't know where to start. Now that SIB is here, I believe more of us will take advantage of these services," he said.
Mombasa County Executive Committee Member for Trade, Mohamed Osman, hailed the opening of the branch as a boost to the local economy.
"This is a major step in strengthening Mombasa's financial landscape. It aligns with our vision of creating a thriving business environment that attracts more investment into the region," said Mohamed.
Fatma Khamis, who runs a small tour company, said the branch would encourage more business owners to consider long-term investments.
"Many of us in the tourism sector only think of business survival, but with these services nearby, we can start planning for the future and growing our wealth," she said.
SIB's expansion to Mombasa signals the bank's commitment to strengthening its client base outside Nairobi, with plans to broaden its footprint across key markets in the country and the East African region.
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