trending Market Intelligence /marketintelligence/en/news-insights/trending/ecoo-5dg8fnbqnupw6vmyq2 content esgSubNav
In This List

Pan-African private equity company acquires 14.3% Britam stake

Blog

The Big Picture 2022 Insurance Industry Outlook

Podcast

Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Pan-African private equity company acquires 14.3% Britam stake

Pan-African private equity company AfricInvest completed the acquisition of a 14.3% stake in Britam Holdings PLC, the Nairobi, Kenya-based financial services group said May 21.

AfricInvest acquired 360,888,281 new ordinary shares in Britam at a price of 15.85 Kenyan shillings per share, for a total of approximately 5.7 billion shillings. The Capital Markets Authority of Kenya had approved the transaction.

Britam Group Managing Director Benson Wairegi said funds from the transaction will support projects in line with its 2016-2020 strategy.

As of May 21, US$1 was equivalent to 100.65 Kenyan shillings.