![Peter Munga](/content/images/size/w1304/format/webp/wp-content/uploads/2023/09/peter-munga-2.jpg)
Britam, owned by Kenya’s richest investors, plans entry into DRC market
DRC’s liberalized insurance sector, valued at $300 million in 2023, presents substantial growth prospects for Britam Holdings.
DRC’s liberalized insurance sector, valued at $300 million in 2023, presents substantial growth prospects for Britam Holdings.
The recent acquisition of BII’s stake by the local investor enhances I&M Group’s local ownership and strengthens its market understanding and operational agility.
Earlier this year, Directline had outlined ambitious plans to diversify its product portfolio.
Mwale, the visionary founder of Mwale Medical and Technology City (MMTC), has inked a deal for smart cities, mining, infrastructure and agriculture.
Kenyan financial services group I&M Group, founded by businessman Suresh Bhagwanji Shah, added 299 new jobs last year in its growth initiative
Indian billionaire Gautam Adani has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port in Tanzania.
Gideon Muriuki’s increased stake in CIC Group, alongside his 1.75 percent stake in Co-op Bank, solidifies his position among the wealthiest investors on the Nairobi Securities Exchange.
MTN Uganda’s success in 2023, brought about the increase in dividend dividend of Shs 403 billion ($103.95 million).
This follows the Court of Appeal’s ruling that upheld a High Court order for Heineken to compensate Maxam for the unlawful termination of their distribution contract in Kenya.
Customer deposits also climbed 14.47 percent to Ksh359.46 billion ($2.74 billion), reflecting the bank’s customer-centric approach.
James Mwangi, a prominent figure in Kenyan finance, holds a 3.38-percent stake in Equity Group, representing 127,809,180 ordinary shares.
John Gachora, the managing director of NCBA Group, attributed the lender’s strong financial results in the first quarter of 2024 to the growth and resilience of its diversified business model.
Gideon Muriuki, a leading Kenyan tycoon, and the CEO of Co-op Bank, holds the largest individual stake in CIC Group at 5.27 percent, representing 137,824,304 shares,
This surge cements James Mwangi’s position as a top investor on the NSE and underscores his status as one of Kenya’s wealthiest individuals.
The bank aims to open 15 new branches this year, reaching 210 outlets. Recent openings include Imaara Mall on Mombasa Road and Ugunja in Siaya.
Muriuki, who has played a pivotal role in the bank’s expansion, holds a two-percent stake in the group, now valued at more than $12 million.