World Bank’s IFC to acquire 10 per cent stake in Britam for Sh3.6b

Britam Group Managing Director Benson Wairegi. [Photo: Elvis Ogina/Standard]

The International Finance Corporation (IFC) has made an entry into Kenya’s insurance industry by acquiring a significant stake in Britam Holdings Ltd.

IFC, which is the investment wing of the World Bank Group, will pay about Sh3.55 billion to gain a 10.37 per cent control of the financial services provider.