david ndii
Chairperson of President William Ruto’s Council of Economic Advisory, David Ndii has been on the headlines in the past few weeks over his remarks on delayed civil servants salaries, debt crisis among other issues.
Unknown to many Ndii has a successful wealth management company known as Zimele Asset Management Limited.
The former Raila Odinga advisor established the company in 1998 and currently serves as the company’s board chairperson.
Zimele offers fund management advisory services to corporate clients, individuals, and manages funds under the Zimele Unit Trust and the Zimele Pension Schemes.
Zimele’s main income comes from fund management fees, advisory/consultancy fees, and fund administration fees for Zimele Asset Management, as well as dividend income and interest income for its Zimele Unit Trust.
Zimele Asset Management made a profit before tax of Ksh5.2 million on a total income of Ksh30.2 million in the six months ending June 2022. It was a huge improvement from the same period in 2021, when its profit before tax was Ksh1.39 million on total revenue of Ksh22 million.
Ndii
In 2022, Zimele suspended Ndii from the company’s board after he made a circumcision slur directed to members of the Luo community.
“ There are many communities in Kenya that don’t practice circumcision but have you ever asked yourself why you are the only ones who call ihii(uncircumcised louts),” Ndii tweeted.
Ndii holds a bachelor’s degree and a master’s degree in economics from the University of Nairobi, and a master’s degree and a doctorate degree in Economics from Oxford University.
He has previously held the position of chief economist at Equity Bank Group and was a founder member of the Institute of Economic Affairs (IEA Kenya) and Africa Economics.
Ndii also served as a public finance expert to the Kenya Constitutional Review Committee of Experts (COE).
He was an Economic advisor to the government of Rwanda and advised the NARC administration on the Economic Recovery Strategy (ERS) which is widely credited with the post-2003 economic recovery in Kenya.
Also Read: Inside Economist David Ndii’s Multi Million Mansion in Nairobi [PHOTOS]
