Jomo Kenyatta University of Agriculture and Technology (JKUAT) has inked a partnership with the Retirement Benefits Authority (RBA) to undertake joint research and exchange of academic information. The cooperation will also aid staff and student mobility between the two institutions through attachments, internships and adjunct lecturer programmes.
Speaking during the agreement signing, Friday April 8, 2016, RBA Chief Manager for Research and Strategy Dr. Shem Ouma, said the retirement benefits regulator had a number of challenges which it seeks to solve using scientific data driven insights.
Dr. Ouma singled out low savings among Kenyans, attributing it to financial illiteracy; with only 15% of the 14 million workforce in the country putting aside funds for their sunset days.
The Manager further said, cases of Kenyans depleting their savings in retirement hence leaving them vulnerable are on the rise.
These are some of the concerns that RBA hopes to tackle in partnership with research institutions.
Vice Chancellor Prof. Mabel Imbuga informed Dr. Ouma that JKUAT had a number of academic and research programmes in areas like statistics, actuarial science and financial engineering, which are relevant to the needs of RBA.
Prof. Imbuga said, the University had embraced a model that emphasises attachments of both faculty and students to the industry while allowing practitioners to come on board as adjunct lecturers.
Dr. Ouma was accompanied to JKUAT by Monica Were and Alex Mugambi, both of Research and Strategy Department.
The meeting was attended by Deputy Vice Chancellors: Prof. Romanus Odhiambo, Prof. Esther Kahangi, among others.