Mortgage financier HF Group secures US$9m capital boost from shareholder Britam to boost retail lending

KENYA – Mortgage finance company Housing Finance has received US$9 million in new funding from one of its major shareholders, Britam Holdings. The tier II capital injection is geared at powering the banks as it seeks to accelerate lending to its SME and mortgages portfolio. “The investment comes on the back of a turnaround strategy that is poised to see the business transform into a full-service bank. This is indeed a major vote of confidence informed by the results already being witnessed through our business transformation initiatives.’’ said HF Group…

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Longest serving CEO of Britam Benson Wairegi to depart in December after 4 decades

KENYA – Britam Holdings Limited, financial services group, has announced that its chief executive, Benson Wairegi, will depart in December after four decades in the financial services company, making him the longest serving CEO among firms listed on the Nairobi bourse. Mr Wairegi, 67, told the Business Daily Monday that he will not seek a new term when his three-year contract ends in December. “The board is seized of the matter. They have engaged and started a search for my successor. Whether it’s internal or external (replacement), that’s now for…

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