In 1995, the Nairobi Securities Exchange (NSE) was a floor of shouting men and chalkboards. In a modest office at Rehani House, James Wangunyu sat with five staff members, a single phone line, and a radical idea: that a homegrown Kenyan firm could compete with the foreign giants dominating the financial landscape.

Thirty years later, the shouting has moved to high-frequency servers, and Wangunyu’s startup, Standard Investment Bank (SIB), has become the loudest voice in the room. As the firm celebrates its pearl anniversary this week, it does so not just as a survivor of Kenya’s economic rollercoasters, but as a market shaper managing over KES 110 billion in assets.

For the average Kenyan investor, SIB’s evolution mirrors the country’s own financial maturation—moving from buying simple land and stocks to accessing complex global markets that hedge against inflation and currency depreciation.

The Pivot That Changed Everything

While SIB spent its first two decades as a top-tier stockbroker, its defining moment came in 2018. With the local equities market stagnating, the firm made a bold pivot, becoming Kenya’s first regulated Online Forex Money Manager. This birthed the Mansa-X Special Fund, a product that allowed local teachers, farmers, and executives to trade currencies, commodities, and global indices.

The gamble paid off. In a financial climate where double-digit returns are rare, Mansa-X has consistently delivered. Data from 2024 shows the fund returned a net 19.53% for its shilling-denominated investors, significantly outpacing inflation. Its dollar fund, designed for those holding hard currency, returned 12.5% in the same period.

“We realized that Kenyans didn’t just want to buy shares; they wanted to preserve wealth,” noted Nahashon Mungai, Executive Director for Global Markets. “By giving a client in Mombasa access to the New York Stock Exchange or gold futures, we aren’t just trading; we are democratizing access to global wealth.”

By The Numbers: A 30-Year Legacy

The firm’s impact is best understood through the data that defines its footprint in 2025:

• KES 110 Billion: Total Assets Under Management (AUM) across its diverse portfolio, making it the second-largest Collective Investment Scheme in Kenya.
• 50,000+: The number of retail and institutional investors currently served.
• KES 270 Billion: The value of corporate finance transactions executed, including major mergers and acquisitions.
• 19.56%: The annualized return for the Mansa-X KES fund in Q1 2025, signaling continued momentum.

Inclusivity and Expansion

SIB’s growth hasn’t just been vertical; it has been horizontal. Recognizing the underserved Muslim market, the bank launched SIB Najah in 2023, a Shariah-compliant division. Today, the Mansa-X Shariah Special Fund manages over KES 3 billion, providing ethical investors with a seat at the table.

Geographically, the firm has broken out of the capital. In February 2025, SIB opened its first regional office in Mombasa, a move aimed at capturing the coastal economy. “Integrity before ambition has always been our mantra,” Wangunyu, now a celebrated industry veteran, reflected during the anniversary gala. “When finance serves people, prosperity follows.”

As SIB looks to the next decade, the focus has shifted to long-term security. With the recent approval to manage pension funds and the launch of the Ziidi Money Market Fund, the firm is positioning itself to safeguard Kenyan retirements.

In a market often defined by volatility, SIB’s 30-year arc offers a rare lesson: adaptability is the only true currency.