During the week, AfricInvest, an investment and financial services firm based in Tunisia, announced a further investment of 273 million shillings in insurance group Britam.
The investment has seen AfricInvest acquiring an extra 32.5 million shillings shares at 8.4 shillings per share, a stake of 3.3 percent in Britam.
The firm has invested in 150 companies across 25 African countries in high growth sectors such as financial services, agribusiness, consumer/retail, education and healthcare.
To date, AfricInvest’s cumulative Assets Under Management total to USD 1.2 billion (121.9 billion shillings) which are managed across 18 funds and invested in sectors such as Fintech, logistics, artificial intelligence, agri-business, customer/retail, healthcare, financial services and education.
AfricInvest has been accumulating Britam’s stocks since its initial investment of 5.7 billion shillings, acquiring 360.8 million shares, equivalent to a 14.3 percent stake in May 2018 at 15.9 shillings per share.
With this new acquisition, AfricInvest’s cumulative investment in Britam now pools to over Kshs 6.4 billion, and a stake of 17.8 percent.
This continued accumulation of Britam stocks by the firm is driven by the insurance company’s compelling asset base, a solid regional presence, a strong distribution network and a diversified business strategy.