Britam Holdings has returned into half-year profit, lifted by growth in investment income and a rise in shares value at the Nairobi Securities Exchange (NSE). The financial services company posted Sh376.3 million net profit in six months to June, marking a recovery from Sh1.63 billion net loss posted in a similar period last year. Britam, […]
• This follows the operationalization of a digital business transformation strategy that saw investments in automation of operations to improve customer experience. • Currently, business efficiency has increased by 30 per cent across all operations with transactions processing cycle-time reducing from over seven days in 2019 to the current less than 24 hours. Britam Insurance […]
NAIROBI, Kenya, Aug 11 – Financial services firm, Britam Holdings PLC, has generated Sh1.4 billion in new business under its revamped digital channels following the outbreak of Covid-19 in 2020. This follows the operationalization of a digital business transformation strategy that saw investments in automation of operations to improve customer experience. The firm has also […]
Mr Peter Munga. FILE PHOTO | NMG Billionaire businessman Peter Munga orchestrated a secretive purchase of 452.5 million shares of Britam Holdings from the government of Mauritius in a deal that left the island nation with a Sh3.9 billion loss, according to an inquiry report. The Port Louis commission of inquiry, which investigated the transactions, […]
Britam #ticker:BRIT rejected the push to hire an insider to replace Benson Wairegi as managing director following a decision that reflected the wishes of its dominant foreign shareholders. The financial services company said the decision to appoint Zimbabwean Tavaziva Madzinga to replace the company’s long serving managing director was driven by shifts of its ownership […]
Kenya’s Capital Markets Authority (CMA) has summoned directors of Britam Holdings Ltd to establish their role in the alleged irregular sale of 452.5 million shares (23.34 percent stake) owned by the Mauritian government to Kenyan tycoon Peter Munga, the former chairman of Equity Bank, five years ago. According to the regulator, the regional insurer which […]
In 2004, the late Naushad Merali purchased 60 percent ownership of Bharti Airtel Kenya from the then-largest shareholder, Vivendi, for $230 million (Ksh18.2 billion). An hour later, he sold the shares to Celtel, making a $20 million profit (Ksh1.6 billion according to the then prevailing exchange rate of Ksh79.2 per US Dollar). Fast forward to […]
Mr Peter Munga. FILE PHOTO | NMG The Capital Markets Authority (CMA) has launched an inquiry into billionaire businessman Peter Munga’s Sh7.1 billion purchase of 452.5 million shares of Britam Holdings from the government of Mauritius. The markets regulator has met Britam officials for talks to review details of the deal that left the island […]
Billionaire businessman Peter Munga orchestrated a secretive purchase of 452.5 million shares of Britam Holdings from the government of Mauritius in a deal that left the island nation with a Sh3.9 billion loss, according to an inquiry report. The Port Louis commission of inquiry, which investigated the transactions, established that the then Mauritius’ Minister of […]
KEY POINTS The top gainer of the day was BK Group with 8.05 percent at the price of 38.25 shillings per share. It was followed by Britam Holdings with 5.06 percent at the price of 8.30 shillings per share. The top gainer of the day was BK Group with 8.05 percent at the price of […]
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