Britam Holdings in top executive shakeup to deliver growth

KENYA –  Insurance group Britam Holdings has announced a new executive team that will deliver enhanced service to its customers and position the company for long-term growth.  Under the new leaner structure, the company’s executive team will comprise eleven directors after dropping nine positions.  Britam has retained six key executives with new mandates from the previous executive team and appointed one new executive member on promotion whilst announcing a new appointee who was externally sourced. Britam’s Group Managing Director, Mr Tavaziva Madzinga, said the new executive structure promotes diversity and aims…

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Health payment provider CarePay lends US$18.2m to private healthcare providers in Kenya

KENYA – CarePay,  a platform that supports private and public health plans with smart mobile health wallets to provide access to good healthcare has lent out US$18.24 million to private healthcare facilities last year, largely to fund acquisition of essential equipment and expansion. The loan facility, under CarePay’s medical credit fund (MCF), saw disbursements go up from about US$456204 per month by the third quarter in 2020 to more than US$3.65 million a month in the fourth quarter. “We used our data on medical care expenses made via our platform, M-tiba,…

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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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Britam General Insurance to service World Vision’s water projects in Kenya

KENYA – Britam General Insurance and World Vision have launched a water insurance innovation that seeks to enhance the sustainability of rural water projects. Britam will finance repairs of water pumps, borehole equipment and generators installed by World Vision under a deal that seeks to ensure continuity of the humanitarian organisation’s projects and improve water access for rural communities. The innovation, which is the first of its kind in the country, was conceptualized by World Vision and will be serviced by Britam in Kenya.  It will shield communities from inconveniences…

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