According to IFC website, the investment consists of an equity investment of up to Kenya Shillings 3,553,375, 000 in newly issued common shares of Britam Holdings Limited to support the company to:
1. develop its local agency network,
2. strengthen the capital base of its core subsidiaries in Kenya and its recently acquired subsidiaries outside of Kenya to meet new regulatory capital requirements
3. support the integration of a new IT platform. Britam is a leading insurance and financial services group in East Africa with headquarters in Kenya and subsidiaries in Uganda, Tanzania, South Sudan, Rwanda, Mozambique and Malawi.
The Company is also the largest shareholder in Housing Finance Group Ltd and one of the largest shareholders of Equity Group Holdings Ltd.
Britam was incorporated in July 1995 as British-American Financial Services Limited while the insurance business has been operating in Kenya since 1965. It subsequently changed its name to Britak Investments Company Limited in September 2003 and following an internal re-organisation, it became the holding company for the various businesses of Britam being insurance, asset management, property and private equity investments. The Company changed its name to British-American Investments Company (Kenya) Limited in May 2006, and listed on the NSE in 2011. The Company subsequently changed its name to Britam Holdings Limited on 5 August 2015.
Project Contact: Dr. Benson Wairegi
Group Managing Director, Britam Centre
Contact No.: +254 020 2833 000/2710 927
Email Address: firstname.lastname@example.org
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