Britam Injects Ksh660M Into its Wealth Management Fund

Britam Holdings Plc has announced a Ksh660 million boost into its wealth management fund, Britam Wealth Management LLP.

This is a move that will ensure financial stability and solvency. The fund ran into an asset-liability mismatch in 2020 which resulted in the company making the provision in anticipation of losses.

Charles Kimani, the Group's Finance Director the boost was key owing to the gap between between the fund's assets and liabilities.

"The growth we had anticipated in the fund did not come through as expected, forcing us to go back to the drawing board," he added.