About The Conference

The East African property market has witnessed significant growth over the past years. In 2020, the real estate sector began on a high note but was impacted by the Covid-19 pandemic, particularly in terms of access to finance. Most real estate developers had to rely on banks as their primary source of funding. To address this issue, the real estate industry players created various innovative products e.g., joint venture models and structured products to raise capital.  In a bid to bridge this gap and further develop the Capital Markets, the Kenyan Capital Markets Authority (CMA) in 2013 put in place REITs regulations for developers to try and to raise capital. This regulatory framework has been in existence in Kenya for the past 8 years and we have witnessed successful stories in the market.

Real Estate Investment Trusts (REITs) have emerged as a significant investment vehicle worldwide, providing opportunities for individuals and institutions to invest in real estate assets. In East Africa, REITs are gaining momentum as an alternative investment instrument, allowing investors to participate in the real estate market and benefit from the income generated by rental properties, capital appreciation, and diversification. The market capitalization of REITs in the region is growing remarkably but there is still a significant potential for growth hence the need to explore ways to build momentum for a thriving future in REITs for East Africa.

The Objective

The conference aims to explore and unlock the power of REITs in East Africa, fostering discussions among industry experts, policymakers, investors, and real estate professionals. It will provide a platform to discuss the current state of REITs in the region, identify challenges, and highlight opportunities for growth and development.


Andrew Simmons

Managing Director, Green Street

Scott Robinson

Clinical Associate Professor of Finance & Investment curriculum and Director of the REIT Center

Ayris T. Scales

Senior Vice President, SRGI, Nareit

Andrew Brooking

Founder & Director, Java Capital

Abubakar Hassan Abubakar

Principal Secretary, Ministry of investments, Trade & Industry

Kenneth Masika

Chairman, REITS Association of Kenya

Geoffrey Odundo

Chief Executive, NSE

David Irungu Waggema

Chief Officer, Strategy, Risk & Compliance / RAK Treasury

Hilda Njoroge

Property Investment Manager, Co-op Trust Investment Services Limited

Edward Kirathe

Founder & CEO of Acorn Holdings Limited.

Raghav Gandhi

Conference Chairman, REIT Association of Kenya

Einstein Kihanda


Mbithe Muema

CBO, Nairobi Securities Exchange

Lydia Muchiri

Head Custodial & Investor, Co-op Bank Group

Zoravar Singh

Managing Director, iJenga Housing

Ruth Okal

Asstant General Manager, ILAM Fahari I-REIT

Kiprono Kittony, EBS

Chairman, NSE

Francis Mwangi

Executive Director, Kestrel Capital (East Africa) Limited

Justus N. Agoti

Manager Product, Development and Uptake

Calvin Nyachoti

Director of Legal Services & Corporation Secretary, Kenyatta National Hospital

Amos Ndung’u

General Manager, IKPPF

Adnan Khan

Partner, Anjarwalla & Khanna

Wairimu Karungu

VP, Corporate Finance East Africa, Investment Banking, Stanbic Bank Kenya

Raphel Mwito

Chief Executive Officer, ILAM Fahari I-REIT

Stephen Mollowah

Partner, TripleOKLaw Advocates LLP

Brian M. Muindi, FCIArb.

Partner, TripleOKLaw Advocates, LLP

Leonard Audi Apiyo

Senior Economist, RBA

Dan Gathogo

Deputy Chief Investment Officer

Judd Murigi

Head of Research, ICEA LION Asset Management (ILAM)

Angella Wairimu

Principal Association, G & A

Anne Mwega

Program Coordinator, REITS Association of Kenya

Brenda Kithinji

Senior Transactor, Stanbic Bank Kenya

Christopher Legilisho

Economist E.A.: Africa Research, Standard Bank Group

Cynthia Mbaru

Director, Corporate Finance Division, Dyer & Blair Investment Bank

Dominique Moerenhout

Chief Executive Officer, European Public Real Estate Association (EPRA)

Eden Kaberere

Head - Trustee business, NCBA Bank

Elizabeth Irungu

Chief Executive Officer, Absa Asset Management Limited

Ewart Salins

Chief Executive, Apollo Asset Managament

Fredrick Nzui

Council Member, Association of Pension Trustees & Administration of Kenya

Gregory Waweru

Chief Executive Officer, SBG Securities

Joseph Rono

Group Executive Director, CPF Group

Mark Dunford

Chief Executive Officer, Knight Frank

Marlene Pillay

Global Head of Real Estate Finance, Corporate & Investment Banking, Standard Bank South Africa

Mathew Maina

Ag. Executive Director, Acorn Investment Management Limited

Maureen Nyakinyuai

Senior Associate, DLA Piper Africa, Kenya (IKM Advocates)

Mohamed Salyani

Head of Islamic Banking Division, Craft Silicon Limited

Neha Detta

Head, Investment Consulting Team, Zamara Group Limited

Ngatia Kirungie

Managing Director, Spearhead Africa

Nicholas Gitonga

Managing Partner, Capital Law Group

Nupur Joshi

Chief Executive Officer, REIT Association of SIngapore

Peter Waiyaki

Partner, Mboya Wangong'u & Waiyaki

Polly Kibui

Manager, Domestic Taxes Department (DTD), KRA

Samuel Kariuki

CEO, Mi Vida Homes

Sigrid Zalcita

Chief Executive Officer, Asia Pacific Real Assets Association (APREA)

Somaya Joshua

Head: Commercial Property Finance, ABSA Group

Steven Wechsler

Chief Executive Officer, National Association of Real Estate Investment Trust (Nareit)

Wendy Owade

Business Development Officer, Nairobi Securities Exchange


Day 1
31st Oct
Day 2
1st Nov
Day 3
2nd Nov

Day 1: 31st Oct

5:30 pm
Conference Kick-off Cocktails

Day 2: 1st Nov

8:00 am - 9:00 am
9:00 am - 9:40 am
Introduction by MC - Davina Leonard
  • Welcoming Remarks: Outline of Conference objectives and Sector vision by Ken Masika, RAK Chair
  • Speech by Edward Kirathe, Acorn
  • Speech by Marlene Pillay, Stanbic Bank
  • Speech by Kiprono Kittony, NSE
  • Speech by Dr. David Ndii, Economic Advisory Committee
  • Government Representative by PS Abubakar Hassan
9:40 am - 10:20 am
  • Economic & Sector Review and Updates/ building momentum by Christopher Legilisho
  • Questions and answers
  • Leading Bank Research Analyst
10:20 am - 11:00 am
Keynote Address - Global Industry Leader by Andrew Simmons
  • Global learnings and experiences
  • Current themes
  • Ongoing challenges
Value of the REIT structure in scaling up platforms
11:00 am - 11:15 am
Tea Break & Networking
11:15 am - 11:30 am
Video Presentation from REIT Associations – Dominique Moerenhout, EPRA
11:30 am - 12:10 pm
Panel Session 1 - Theme: Real Estate market and REITs Momentum,
ed by Cynthia Mbaru
  • Current market trends in Kenya and East Africa
  • Challenges and outlook
    • Samuel Kariuki - Mi Vida`
    • Somaya Joshua - Absa Group
    • Mark Dunford / Charles
    • Macharia at Knight Frank
12:10 pm - 12:20 pm
Presentation by Ayris Scales from Nariet
12:20 pm - 12:50 pm
Panel Session 2 - Theme: Investor Education & Awareness,
led by Ayris Scales
  • Lydia Muchiri, Cooperative Bank
  • Calvin Nyachoti, KNH Trustee
  • Dan Gathogo, Sanlam
  • Judd Murigi, ICEA
  • Mathew Maina, AIML
12:50 pm - 1:50 pm
Lunch Break & Networking
1:50 pm - 2:40 pm
Panel Session 3 - Theme: Financing and Capital Markets,
led by Mbithe Muema
  • Fund managers and investors should share insights on the stumbling blocks and opportunities for growing investments in real estate through REITs
    • Einstein Kihanda at ICEA Lion
    • Ngatia Kirungie at KEPFIC/ Spearhead
    • Amos Ndung’u at Kenya Power Pension Fund
    • Gregory Waweru – Stanbic
    • Elizabeth Irungu - Absa
2:40 pm - 3:10 pm
Panel Session 4 - Theme: Regulatory Environment Surrounding REITs,
led by Brian Muindi
  • Regulator’s aspirations for growing REIT exposure and presence
  • Enabling further dialogue with industry practitioners
    • Justus Agoti, CMA
    • Leonard Apiyo, RBA
    • Polly Kibui, KRA
3:10 pm - 3:50 pm
REIT Masterclass by Scott Robinson at NYU
  • How to evaluate REITs and deliver success
  • Masterclass to be delivered by global academic or industry expert.
3:50 pm - 4:05 pm
Video Presentation from REIT Associations – Steven Wechsler, Nareit
4:05 pm - 4:15 pm
Closing Remarks by Geoffrey Odundo at NSE/RAK
  • Establishment of regional/continental associations
  • Wrap up for the day
6:30 pm
Gala Dinner

Day 3: 2nd Nov

8:00 am - 8:30 am
8:30 am - 8:40 am
  • MC: Davina Leonard & Irungu Waggema
  • Welcoming Remarks and Recap by Hilda Njoroge
8:40 am - 9:00 am
  • Keynote Speaker(s) by Andrew Brooking
  • Leading industry practitioners from the continent to share lesson
9:00 am - 9:30 am
REIT Strategy by Irungu Waggema at NSE
  • How does RAK intend to facilitate and drive the growth of the REITs sector?
  • Panel moderated by Irungu Waggema
    • Capital Markets - Geoffrey Odundo
    • Real Estate - Zoravar Singh
    • Capital - Hilda Njoroge
    • Regulatory - Ruth Okal
9:30 am - 9:45 am

Video Presentation from REIT Associations - Sigrid Zialcita, APREA &

Video Presentation from REIT Associations - Nupur Joshi, REITAS

9:45 am - 10:00 am
Tea Break & Networking
10:00 am - 10:20 am
Introduction to the REIT Toolkit & Incubator Zoravar Singh
10:20 am - 1:00 pm
Introduction to the REIT Toolkit by Anne Mwega
  • Module 1: REIT Background - Wendy Owade & Anne Mwega
  • Module 2: REIT Business Plan & Financial Model - Zoravar Singh & Wairimu Karungu
  • Module 3: Offering Memorandum - Cynthia Mbaru & Mohamed Salyani
  • Module 4: REIT Structuring & Legal – Peter Waiyaki, Angella Wairimu, Brian Muindi, Lydia Muchiri, Adnan Khan, Alex Njage, Maureen Nyakinyua
  • Module 5: REIT Environmental, Sustainability & Governance - Nick Gitonga, NSE
  • Module 6: REIT Checklists - Brian Muindi, Lydia Muchiri, Titus Kiilu, CMA
  • Module 7: REIT Trustee - Lydia Muchiri, Eden Kaberere
  • Module 8: REIT Management
  • Module 9: Financial & Sustainability Reporting - reda Muchena Mitambo
  • Module 10: Capital Raising & Registration - Francis Mwangi
1:00 pm - 2:00 pm
Lunch Break & Networking
2:00 pm – 3:30 pm
REIT Investment and Incubation moderated by Ken Masika
  • REIT Investment Theory by Joseph Rono, CPF
  • REIT Pension by Fredrick Nzui, APTAK
  • Fund Management by Ewart Salins, Fund Managers Association
  • REIT Investment and Deals by Ngatia Kirungie, KEPFIC
  • REIT Incubator by Mbithe Muema, NSE
3:30 pm - 4:00 pm
REIT Clinic
New REITs and Company Introductions by Wendy Owade
  1. ILAM Fahari I-REIT by Raphel Mwito
  2. iJenga Housing
  3. Mi Vida Homes
4:00 pm - 4:50 pm

Overview of the Conference & Closing Remarks by Ken Masika

Vote of Thanks by Raghav Gandhi

4:15 pm
REIT Issuer & Service Provider Meet & Greet
5:00 pm


Conference rates Per Person

Conference Only

KES. 30,500

KES. 35,000

Residential Package

KES. 68,000

KES. 73,000


Register Now

Location & Contacts

Office: 020 283 1000

Mobile: +254 100 849 765

Email: raksecretariat@nse.co.ke