Britam Holdings Plc Channels Kes2.4Bn to Local Suppliers

• Britam Holdings Plc Channels Kes2.4Billion to Local Suppliers

Britam Holdings Plc has announced a significant investment of Sh 2.4 billion into local and minority-owned suppliers  in 2024, a move reflecting the firm’s growing commitment to inclusive procurement and ESG-aligned business practices.

The disclosure is part of Britam’s newly released 2024 Sustainability Report.

Britam championed targeted supplier inclusion measures, unlocking opportunities during the year, including a 50 percent discount on prequalification fees for women- and youth-owned businesses and full exemptions for suppliers owned by persons with disabilities (PWDs).

Tom Gitogo,  Britam Group MD and CEO, said  minority-owned businesses accounted for 21 percent of all prequalified suppliers, including 10 that self-identified as PWD-led.

“By working closely with domestic suppliers vetted using ESG criteria, Britam created downstream economic opportunities while raising sustainability standards across our supply chain,” said Gitogo.

Britam outlined additional progress on its environmental and social targets.

The diversified financial services firm breathed cleaner air by avoiding 77.82 tonnes of carbon emissions through solar installations at Britam Centre, saving Sh 2.17 million in energy costs.

It also installed electric vehicle charging stations and reverse osmosis systems in 11 branches to reduce reliance on plastic bottled water.

As it marks 60 years of impact, Britam has also committed to planting 60 million trees across Africa by 2030 a bold pledge reinforcing its long-term climate action agenda.

On the social front, Britam expanded its microinsurance portfolio to cover over 4 million people-primarily informal sector workers, women, and youth.

It also doubled the reach of its chronic illness care programme, saving Sh 5.2 million in healthcare expenses, and extended maternal and women through its Lea Mama initiative.

Customer satisfaction also improved.

Britam’s Net Promoter Score rose by 17 percent year-on-year in Kenya, reaching 42, aided by Al-driven Omni channel support tools.

The insurer highlights significant corporate governance gains, with 45 percent female board representation across Britam’s subsidiaries.

The insurer further said  4 out of the 12 Britam Subsidiaries Boards are chaired by women.

Britam was also named 1st Runner-Up in the Financial Sector at the Institute of Certified Secretaries’ Champions of Governance Awards for year 2024.

ESG oversight was formally embedded in Board Committee Terms of Reference, and 90 percent of staff received anti-corruption training.

The company also disclosed Sh 4.07 billion in tax contributions.

Britam aims to deepen ESG impact by advancing climate resilience, expanding inclusive insurance, and strengthening governance and partnerships.

“As a business built on trust, our focus is not only on short-term returns but on long-term value creation for society,” Gitogo said.

“Sustainability is not a side initiative; it’s a strategic imperative.”