Kenya: Tycoon Jimnah Mbaru hands over his 50 million shares in Britam Holdings to Swiss Re
Friday, 26 April 2019 15:44
Kenyan businessman Jimnah Mbaru (photo) has sold the 50 million shares he had in Britam Holdings, one of the largest insurers in Kenya, to Swiss Reinsurance Company (Swiss Re), Forbes revealed on April 20, 2019.
The financial details of this transaction have not been disclosed but the 50 million shares are worth at least $4.4 million based on the average price of Britam Holdings on the Nairobi Stock Exchange.
The transaction consolidates Swiss Re’s position as one of the main shareholders of Britam Holdings with 15.79% of overall stakes. In June 2018, it acquired 13.81% stake in the Kenyan insurance group (from tycoon Peter Munga for $48 million).
Last year, Britam Holdings’ founders handed over the group’s control to institutional investors. Swiss Re, the International Finance Corporation and AfricInvest hold a combined stake of 40.79% in Britam while the founders hold 39.2%.
Britam Holdings’ market capitalization is about $300 million. Its market share in Kenya is over 20%.
Live News
-
Nigerian insurer AXA Mansard’s 2025 profit falls 79% as currency gains reverse
20:19
-
Nigeria Makes Sugar a Priority for Industrial Investment
20:10
-
Funding for African Tech Rebounds, but Capital is Shifting Toward Debt and Selectivity
19:50
-
African Union, UK Plan High-Level Strategic Meeting in London
16:42
-
Gabon Approves Draft Law to Regulate Digital Archiving
13:25
-
Cabo Verde Bets on Digital Skills to Tackle Youth Unemployment
13:23
-
Abena Adoma Promotes Community-Driven Technology in Ghana
13:21
-
Sabi Yarou Sika OROU N’GOB Launches Peer-to-Peer Platform to Ease Crypto Trading
13:19
-
Cameroon Ratifies Air Deal With Qatar, Opening Market to Qatar Airways
17:51
-
State Oil Firm SNH Reshuffles Leadership, Names Five Women to Senior Roles
17:48
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
African startup M&A hits record 67 deals in 2025 Consolidation driven by funding pressures and ex...
Urban employment reached 53.7% in WAEMU in early 2025 Most jobs remain informal, low-paid, and in...
CBE introduced CBE Connect in partnership with fintech StarPay. The platform enables cross-border...
Moniepoint, Opay, Kuda, and others gain national status with tighter oversight A naira 5 billion ...
Nigerian sugar regulator partners governors’ forum to attract domestic and foreign investment Deal prioritises investor-ready sugar projects, land...
After two difficult years, funding for African tech is recovering, but the landscape has changed, with more debt, less exuberance, and a market that is...
The African Union and the United Kingdom agreed to hold a high-level strategic meeting in London in early 2026. AU Commission President Mahamoud...
Eramet ended the mandate of CEO Paulo Castellari and appointed Chair Christel Bories as interim chief executive. The board cited differences over...
Manovo-Gounda-St Floris National Park is one of the largest protected areas in Central Africa. Located in the northeastern part of the Central African...
Streaming dominates music, reshaping royalties and artist income worldwide Sub-Saharan Africa grows fast, but payouts stay far lower Platform, region,...