Britam Insurance headquaters in Upper Hill. /FILE Britam Holdings now targets low income earners to increase insurance uptake even as it marks paying Sh3 billion in health and life claims to customers since 2015. The company’s Emerging Consumer Business Director Saurabh Sharma said many Kenyans, especially smallholder farmers and small businesses, could not afford insurance […]
KEY POINTS Uchumi Supermarket was the top loser after shedding off 9.09 percent at the price of 0.20 shillings per share followed by Sasini and Trans-Century with a loss of 5.61 and 4.31 percent at the price of 20.20 and 1.11 shillings per share. Top Gainers The top gainer of the day at the Nairobi […]
The National Social Security Fund (NSSF) leveraged its four percent stake in HF Group to get a board seat for its managing trustee Anthony Omerikwa, according to sources familiar with the matter. Dr Omerikwa recently joined the board of the Nairobi Securities Exchange #ticker:NSE -listed firm as a non-executive director. His appointment comes as insurance […]
Equity Group Managing Director and CEO Dr James Mwangi at the Equity Centre in Nairobi on Monday, October 25, 2021. PHOTO | DENNIS ONSONGO | NMG Equity Group has received a licence to operate a life insurance business in Kenya as the company seeks growth and diversification in the financial services industry. The Insurance Regulatory […]
Equity Group ( NSE:EQTY , USE:EBL , RSE:EQTY ) has received a licence to operate a life insurance business in Kenya as the company seeks growth and diversification in the financial services industry. The Insurance Regulatory Authority (IRA) issued the licence to Equity Life Assurance (Kenya) Limited (ELAK), a subsidiary of the Nairobi Securities Exchange-listed […]
Britam Holdings ’s Finance Director Charles Njuguna has been named acting managing director, replacing Tavaziva Madzinga who resigned Friday less than a year into the job to join South African based financial-services group Santam Ltd. Njuguna, who joined the Kenyan-based diversified financial services group last year, will lead the organization during its transition period until […]
Britam Holdings has sold Sh12.2 billion worth of shares in leading Kenyan lender Equity Group to the International Finance Corporation (IFC). The deal, revealed through a regulatory notice by Equity Group Holdings (EGH), now gives the investment arm of the World Bank a 6.7 per cent share of the lender. “EGH was notified that on […]
Seven chief executives joined corner offices at Nairobi Securities Exchange #ticker:NSE -listed firms in 2021, filling vacancies that were created by various circumstances. The companies that made substantive or temporary CEO appointments include Britam Holdings #ticker:BRIT , East African Portland cement #ticker:PORT and BOC Kenya #ticker:BOC . Others were Kenya Power #ticker:KPLC, Nairobi Business Venture […]
Insurance firm Britam Holdings #ticker:BRIT is set to raise Sh13.9 billion from the sale of 253.1 million shares of Equity Group Holdings #ticker:EQTY to the International Finance Corporation (IFC). Sources familiar with the transaction told Business Daily that IFC will acquire the shares at a price of Sh55 each based on negotiations with the insurer. […]
Tava Madzinga has been appointed as the new CEO of Santam, and will succeed Lize Lambrechts in the position from 1 July. Madzinga joins Santam from Britam Holdings, a diversified investment business listed on the Nairobi Securities Exchange, where he was the group managing director. A qualified actuary, he worked at Old Mutual for 16 […]
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