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Britam owners appoint three new directors

By Moses Omusolo | June 22nd 2019

Shareholders of Britam Holdings have approved the appointment of three new directors.

Mr George Odo, Ms Josephine Ossiya and Mr Christopher Minter have joined the firm’s board as non-executive directors following the endorsement by shareholders yesterday.

Britam Group Managing Director Benson Wairegi said the three new directors bring a wealth of expertise that will help drive growth across the markets where Britamoperates.

The company did not, however, recommend any dividend for the year ended December 31, 2018 due to a decline in performance. In 2017, it paid out Sh756.9m in dividends.

This was attributed to slow down in the stock market, depressed property market, impairment of Housing Finance investment and one-off restructuring cost.

The firm also re-elected Ms Caroline Kigen, Mr Mohamed Karama and Ms Marianne Loner as directors in the Holding company’s Board.

Wairegi said the Group performed well in its core business with growth of assets under management to Sh146.64b, a 14 percent rise from 2017.

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