AfricInvest increases its stake in Britam Holdings's capital
The private equity company, AfricInvest, has increased its stake in the capital of Britam Holdings by acquiring additional 49.3 million shares for an amount of 4.4 million USD.
This investment increases the shares of AfricInvest in Britam's capital from 14.3% to 16.24%. The first shareholding dates back to May 2018, when the Tunis-based investment company had acquired 360.8 million shares.
The Kenyan insurer will benefit through this operation from the experience and deep knowledge of AfricInvest in the financial sector, stresses Benson Wairegi, managing director of Britam Holdings.
Britam group has recently been the target of several investments. The latter already ceded 10.37% of its capital to the International Finance Corporation (IFC) in 2017 and 13.81% to the reinsurer Swiss Re the following year.
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