WTH

What happended to being cash rich??

Unrealised loss in listed equities at ksh.3.2bn compared to a gain of sh.0.9bn in 2017
Lower returns in property investments due to depressed property market
Provisions of the new IFRS9

Return on assets is quite low coupled with high expenses

things are thick for britam, heavily invested in strungling property market and at the same time housing finance

Sell all

Retained earnings has all been wiped off

Please explain to me the above especially the IFRS9.I thought it only applies to banks(Or the HFCK relationship kicks in)

@Realtreaty has not been spotted yet?

Kenya’s largest insurance company, Britam is in discussions to own part of Tiserin Capital, a Private Equity company focused on African investments. The insurer aims to spread out its investments beyond real estate, stocks, and government securities.

Although the exact details on the transaction are not clear, Britam’s board has approved the acquisition and it is set to be the largest investor in the PE firm as per the Business Daily.

Tiserin Capital invests in healthcare, technology companies, agri-business, and the food industry.

Britam’s CEO Mr. Benson Wairegi said, “We are excited about this new partnership with Tiserin Capital that introduces us directly into the private equity space, an area with considerable potential in the region.”

Tiserin Capital Chief Executive Officer shared his delight on the partnership saying, “We are impressed by Britam’s regional expansion, its push for innovation and the stamp of approval provided by leading investors such as IFC, Swiss-Re and AfricInvest.”

Private Equity companies are largely responsible for the exponential growth in sectors such as financial services, healthcare, education, and manufacturing in most African nations. Local and international investors are moving their funds to private equity with the hope of generating higher returns than in traditional investments such as bonds, stocks, and property.

In the last financial year, Britam made a huge net loss of KSh2.2 billion. The loss was largely attributed to a decline in the value of investments in the stock market. Britam’s partial acquisition of Tiserin will provide the insurer indirect ownership in the companies the PE firm invests in.

Shareholders hapa wanachezwa

This is very serious. I recently asked a seasoned businessman his comparison in his business performance between Moi's time and now. He felt its worse now. Dont know how true that is statistically but wukans statement is very telling.