The wealthy people in the entry and mid-affluent segments in Kenya are constantly looking for new ways to make more money from their deposits as they look forward to creating or enhancing their financial legacy.

It is with this in mind that Absa Bank Kenya has expanded and distinguished its offerings in the affluent segment as it seeks to match them to the changing needs of its wealthy customers.

The financial institution revealed that it is shifting focus from product-driven to customer segments based on customer insights as it now opens a new chapter in consumer banking.

Absa Bank Kenya Director of Affluent Banking Seema de Souza, Consumer Banking Director Moses Muthui and Ag. Head of Prestige Banking, Magdalene Kaguri. PHOTO/ABSA

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As part of the new approach, Absa has now classified consumer banking into the following three segments to cater to evolving consumer behaviour and unprecedented market trends:

• NextGen consumer

• Mass & Middle market consumer

• Affluent Consumer.

According to Absa Bank Kenya Consumer Banking Director Moses Muthui, the new approach will ensure all their customers find value in the bank’s offerings no matter their financial status.

Consumer Banking Director Moses Muthui. PHOTO/ABSA

“As the wealthy look for better returns, we are seeing new opportunities open across markets. We have seen a gap in how entry and mid-affluent consumers are served. With our strong history and loyal customer base, we are focusing on building even stronger relationships through personalized service and leadership in this space,” said Muthui.


Muthui says the reorganisation of the bank’s affluent offerings will see Absa customers empowered to better realise their personal, professional as well as business goals.

The new three-tier structure will serve the entry-level professionals and entrepreneurs with Prestige, the mid-tier affluent with Premier, and the top-tier clients with Premier Wealth.

Absa Bank Kenya Director of Affluent Banking Seema de Souza says Prestige clients will get financial advice and tailored opportunities to fit their aspirations to progress to Premier segment.

Similarly, Premier clients will be supported towards Premier Wealth with each tier getting dedicated specialists and personalized advice on wealth creation aligned to their unique goals.


“Our affluent banking serves a broad spectrum of clients, driven by their unique insights to meet distinct financial goals and preferences,” indicated de Souza.

Other key benefits of the three distinct segments:

1. Prestige customers:

• Retrenchment cover

• Platinum Card (paid lounge access, up to 50-day interest free period, buy-now-pay-later, extended warranty and purchase protection).

2. Premier customers

• Signature Card (lounge access, meeting rooms at Premier Centres and access to exclusive experiential events, thought leadership and networking opportunities).

3. Premier Wealth customers

• Infinite Card (access wealth management solutions - structured notes, estate planning and generational wealth transfer solutions).


Kenya has been ranked the fourth wealthiest country in Africa by the 2024 Africa Wealth Report, which also shows the continent’s affluent market has been expanding rapidly in recent years.