Britam owners appoint three new directors

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.

Business
Premium Burdened Kenyans walk into Easter weekend broke
Business
Premium Looming crisis as top lenders stare at Sh500b in bad loans
Business
Premium Water PS Korir put on the spot over Sh14m dam land
Business
Premium Ruto's food security hopes facing storm amid fake fertiliser scam