Britam Holdings appoints Finance Director Charles Kimani as acting MD

KENYA –  The Board of listed Financial services firm Britam Holdings has appointed its Finance Director Mr. Charles Kimani Njuguna as Acting Group Managing Director following the resignation of Mr. Tavaziva Madzinga which was effective on 14th January 2022. The firm’s board chairman Mr. Kuria Muchiru said in a statement to shareholders that the Board had embarked on a search for a substantive Group…

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Britam Holdings CEO Tavaziva Madzinga quits after 10 months at the helm

KENYA – Insurance Group Britam Holdings has announced the planned exit of its managing director, Tavaziva Madzinga, after just 10 months in office in its latest executive shake-up. Mr. Madzinga will officially leave Britam in April 2022, giving the company enough time to find his replacement. The announcement comes barely 10 months after he joined the company on 1st February 2021 following…

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Britam Holdings Plc records a net loss of US$84m, cites poor performance by subsidiaries

KENYA – Diversified financial services group Britam Holdings Plc, reported a net loss of US$84 million for the financial year ended 31st December 2020. The financial services provider firm attributes this depressed financial performance to poor returns from investments in its associate Housing Finance Group (HFC) and investment losses in Wealth Management Fund LLP, a fund managed by its subsidiary Britam…

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Britam Holdings announces new organizational structure, job cuts

KENYA – The board of Britam Holdings Plc, a leading diversified financial services group, has announced a new organisational which it says will result in a more competitive, efficient and customer centric organization. Additionally, it will gear the Nairobi Securities Exchange (NSE) listed firm for enhanced digital innovation and product development. Similarly, the reorganization is expected to lead to a…

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Insurance group Britam picks Tavaziva Madzinga to replace long serving CEO Benson Wairegi

KENYA – Insurance Group Britam Holdings has appointed Tavaziva Madzinga, a strategy expert, as its chief executive to replace long-serving Benson Wairegi, who is retiring at the end of this month after 40 years of service. The appointment of Mr Madzinga, an actuarial scientist who previously served as chief executive of Old Mutual’s operation in Kenya, takes effect on February 1,…

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Britam posts US$33.06m in profit from higher investments gains

KENYA – Financial service group, Britam Holdings has posted a profit of Ksh3.5 billion (US$33.06m) in earnings for the period ending December 31st 2019 from higher investments gain. In 2018, the insurer fell into Ksh2.2 billion (US$20.76m) loss after taking a sizable hit from its investments in publicly listed firms. The Group’s total income grew by 38 per cent in…

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