AfricInvest Invests USD3 Million for Additional Stake in Britam
Posted On: 16 Jun 2019 | Source(s): Africa Capital Digest
Africa-focused private equity fund manager AfricInvest has acquired an additional 3 percent stake in Nairobi Stock Exchange-listed financial services group Britam for KES273 million (approximately USD3 million), bringing its total stake in the company to 18 percent. Britam provides insurance, banking, and asset management services across Eastern and Southern Africa. AfricInvest originally acquired a 14 percent stake in the company in 2017 through AfricInvest Fund III.