We have invested in the insurance sector in Africa (together with AfricInvest, our long-term trusted partner) in the past, with great success. Britam’s regional operations, experienced management team, the entrepreneurial spirit of the key shareholders, and the company’s belief in good governance were all elements that attracted us to Britam. These are the ingredients that we typically look for as Investors. We are very excited about our partnership with Britam and are confident that it will grow into a regional champion and deliver strong returns to the shareholders of the company.
The new infusion of capital is expected to support Britam’s strategy which includes increased digitalization, development of new products and further consolidation of its presence in the region.
Britam is a leading financial services company listed on the Nairobi Stock Exchange, and has subsidiaries in Kenya, Uganda, Tanzania, Rwanda, Mozambique, Malawi and South Sudan. The group is involved in various businesses including life insurance, property & casualty insurance (general insurance), health (medical) insurance, asset management, property development. It also has substantial direct investments in the banking sector.
No contact information provided at the time of disclosure.
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism